Koreans’ Incomes Peak at 43 and Shifts to Red at 61

The salaries of Koreans peak at 43 but turn precarious when they are 61.

Statistics Korea said Koreans begin to earn money at the age of 17 and reach an average W39.06 million at the age of 43 (US$1=W1,305).

They nominally spend the most money at the age of 17 with W35.75 million if their parents’ expenses on private crammers and other things are included, so their deficit is naturally the biggest at that age too with W35.27 million.

Commuters travel to work in Seoul on Thursday. /News1

The “black-ink life” lasts only 34 years from the ages of 27 to 60, so the era of centenarians could be miserable for many as their expenses go up but their income does not.

At the age of 61, they return to a deficit where expenditures surpass earnings, but the starting point has moved back from 56 in 2010 as more and more older people are employed.

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