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Posted : 2012-12-26 16:27
Updated : 2012-12-26 16:27

High-income earners jump 30% since 2010

By Kim Jae-won

High-income earners, those making more than 100 million won ($93,000) annually, topped 360,000 last year, latest data showed, Wednesday.

According to the National Tax Service (NTS), the number of salaried workers earning more than 100 million won reached 362,000 in 2011, up 29.3 percent from 280,000 in 2010. The figure accounts for 2.3 percent of that workforce.

This is first time that the ratio surpassed 2 percent of the total number employed.

The number of female high-income earners has also increased quickly.

Women taxpayers whose annual income topped 100 million won reached 30,016 last year, up 16.8 percent from a year ago, up from 4.8 percent in 2008.

The portion of female employees to the whole employed also increased gradually over the last four years, according to other data from the tax agency.

Female employees subject to income tax stood at 3.3 million in 2011, accounting for 32.8 percent of all employees, up 3.6 percentage points from 2007.

In the corporate sector, the combined net profits of corporations marked 151.5 trillion won in 2011, up 41.5 percent from the previous year. Net income of corporations reached an average of 329 million won during the same period, up 35.4 percent from a year ago, a record high.

A total of 461,000 firms filed corporate tax reports last year, paying a combined 38 trillion won, up 28.3 percent from a year ago. “Companies enjoyed better profits thanks to increased exports and good mood in the finance sector at the time,” the agency said in a report.


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