South Korean physician salaries average 285 million KRW

The South Korean Ministry of Health and Welfare released the results of its second healthcare workforce survey, covering 20 occupations and approximately 2.32 million license and certificate holders. As of 2023, the average annual compensation for physicians was 285.18 million KRW, the highest among all surveyed professions. This represents a 1.7-fold increase compared to ten years ago.

Compensation varies significantly by the type of medical institution. Physicians working in hospitals earned the highest average annual salary at 354.27 million KRW, followed by those in clinics at 325.99 million KRW. In contrast, those in tertiary general hospitals earned an average of 199.76 million KRW, a difference attributed to the educational and research roles often held by younger staff in those institutions.

Other notable findings include: - Average annual salaries for other professions: Dentists (202.77 million KRW), Oriental medicine doctors (103.68 million KRW), pharmacists (84.26 million KRW), and nurses (51.95 million KRW). - The highest annual growth rate in compensation was seen among second-class emergency medical technicians at 6.3%. - There is a growing concentration of physicians in the Seoul metropolitan area, while non-metropolitan regions face an aging workforce. For instance, the average age of physicians in Gyeongbuk is 50.8, compared to 44.7 in Seoul.