Lee Yeon-woo is a financial journalist at The Korea Times. Her wide range of reporting includes policies, macroeconomics, stock market, companies and even crypto. She is passionate about connecting the dots in Korean finance and making it easier for foreign nationals to understand. Based on her previous experience as a national reporter, she also has a keen interest in social issues within the sector, including gender equality and ESG. Your tips and insights are always appreciated. You can send them to yanu@koreatimes.co.kr.
No. of high-earning young YouTubers doubles in 2 years
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By Lee Yeon-woo
The number of one-person content creators in their 20s or younger earning over 100 million won ($72,290) per year has doubled over the past two years, according to data released Monday.
Data from the National Tax Service (NTS) showed that in 2022, 1,324 one-person content creators in their 20s or younger reported income exceeding 100 million won, a figure approximately 2.5 times higher than in 2020.
This data was submitted to and released by Rep. Cha Gyu-geun from the minor opposition Rebuilding Korea Party. One-person content creators include YouTube channel operators and live streamers on various internet platforms.
In 2022, a total of 39,366 one-person content creators reported their income. Among them, 2,781 creators earned over 100 million won, representing about 7 percent of the total.
By age group, the largest number of high earners were in their 20s or younger, totaling 1,324 individuals, followed by 1,071 creators in their 30s, 273 in their 40s, and 113 aged 50 and above.
Conversely, 31,481 creators, accounting for 80 percent of the total, reported earnings of less than 25 million won.
In a 2022 report, Hwang Sun-kyung, a senior researcher at the Hana Institute of Finance, wrote that "Generation MZ" — a Korean term referring to Millennials and Generation Z — serves as the primary content consumers and suppliers.
"With the evolution of tech platforms lowering the barriers to entry, becoming a creator has emerged as a popular side job," Hwang said.
The influx of young creators, including teenagers, is indeed becoming more pronounced.
Lee Joon-soo, a former casxt member of Korean reality show, "Where Are We Going, Dad?" disclosed in April that he had earned 8 million won in monthly profits at peak. At 16, he has around 217,000 subscribers on his YouTube channel.
However, the released income data did not include donations received by YouTubers through personal account exposure during broadcasts. Cha noted that this could effectively leave a "tax blind spot."
The NTS explained that it is practically quite difficult to track transaction details when subscribers send donations directly to personal accounts.