Pay at South Korea's Top 100 Companies: How Far Public Data Can See
The idea that you can estimate corporate pay from South Korea's National Pension workplace data has been around for years. We actually pulled 6.23 million rows and tried it. Then we checked the results against DART disclosures — the answer key — and the estimate failed at every one of the top 100 companies. There is a single reason why.
National Pension: 6,232,583 rows · 12 snapshotsDART: 2,999 listed companiesBasis: FY2025 / 2026-06
Meritz Securities: $143,754, NH Investment & Securities: $129,367, SK hynix Inc: $125,810, KB Securities: $117,121, Samsung Securities: $116,874, Mirae Asset Securities: $116,040, SK Telecom: $114,979
First, the actual numbers
The table below is measured, not estimated. It comes from the "Status of Employees" section of annual reports filed with DART, the electronic disclosure system run by South Korea's Financial Supervisory Service: the total annual payroll a company reports itself, divided by headcount. Among listed companies with 1,000 or more employees, we ranked the top 100 by pay.
In the bar at the right of each row, the green segment is the range National Pension data can see; the hatched segment is the range the cap clips off.
Dollar figures are indicative conversions from Korean won at the 2026-08-16 rate of 1 USD = 1,414.43 KRW.
| # | Company | Employees | Avg. pay per employee | Range visible to National Pension | ||
|---|---|---|---|---|---|---|
| 1 | Meritz Securities008560 | 1,593 | $143,754 | $123,343 | 6.5 yrs | |
| 2 | NH Investment & Securities005940 | 3,137 | $129,367 | $125,224 | 13.7 yrs | |
| 3 | SK hynix Inc000660 | 34,549 | $125,810 | $122,784 | 13.4 yrs | |
| 4 | KB Securities003450 | 2,970 | $117,121 | $112,886 | 15.7 yrs | |
| 5 | Samsung Securities016360 | 2,614 | $116,874 | $114,392 | 13.1 yrs | |
| 6 | Mirae Asset Securities006800 | 3,310 | $116,040 | $110,143 | 15.7 yrs | |
| 7 | SK Telecom017670 | 5,316 | $114,979 | $108,906 | 13.7 yrs | |
| 8 | Samsung Life Insurance032830 | 5,124 | $111,168 | $108,758 | 17.4 yrs | |
| 9 | Samsung FIRE & Marine Insurance000810 | 5,535 | $110,058 | $108,340 | 15.9 yrs | |
| 10 | Shinhan Card032710 | 2,440 | $109,069 | $108,715 | 19.2 yrs | |
| 11 | Samsung Electronics Co,.Ltd005930 | 128,881 | $108,616 | $105,555 | 13.7 yrs | |
| 12 | Shinhan Securities008670 | 2,574 | $104,565 | $99,892 | 12.9 yrs | |
| 13 | Samsung CARD029780 | 2,033 | $104,247 | $101,999 | 16 yrs | |
| 14 | Citibank Korea Inc016830 | 1,498 | $103,681 | $100,450 | 19.4 yrs | |
| 15 | SK Innovation096770 | 2,064 | $103,165 | $90,927 | 10.9 yrs | |
| 16 | Samsung SDS018260 | 11,219 | $99,708 | $98,174 | 17.2 yrs | |
| 17 | NAVER Corporation035420 | 5,047 | $99,659 | $91,931 | 7.7 yrs | |
| 18 | S-Oil Corporation010950 | 3,537 | $98,400 | $95,254 | 17.4 yrs | |
| 19 | SK Broadband033630 | 2,472 | $96,993 | $92,362 | 16.1 yrs | |
| 20 | Yuanta Securities Korea003470 | 1,777 | $96,286 | $93,168 | 12.7 yrs | |
| 21 | KIA Corporation000270 | 36,566 | $94,540 | $93,557 | 20.8 yrs | |
| 22 | Samsung E&A028050 | 4,438 | $94,391 | $91,966 | 12.1 yrs | |
| 23 | Doosan000150 | 1,749 | $94,222 | $80,916 | 13.7 yrs | |
| 24 | Hyundai Mobis012330 | 12,535 | $94,116 | $92,801 | 13.1 yrs | |
| 25 | Hyundai WIA011210 | 2,843 | $93,522 | $89,746 | 12.3 yrs | |
| 26 | Posco International047050 | 1,738 | $93,274 | $90,715 | 15.4 yrs | |
| 27 | KIWOOM Securities039490 | 1,190 | $92,893 | $82,500 | 6.1 yrs | |
| 28 | Hyundai Motor CO005380 | 72,598 | $92,716 | $91,083 | 15.8 yrs | |
| 29 | Daishin Securities003540 | 1,432 | $91,981 | $85,483 | 15.6 yrs | |
| 30 | HD Hyundai Electric267260 | 2,209 | $90,524 | $88,354 | 6.4 yrs | |
| 31 | HD Korea Shipbuilding & Offshore Engineering009540 | 1,543 | $90,475 | $83,942 | 4.3 yrs | |
| 32 | Busan BANK005280 | 2,995 | $88,481 | $87,682 | 15.2 yrs | |
| 33 | Hanwha Aerospace012450 | 8,168 | $87,894 | $86,211 | 13.1 yrs | |
| 34 | KEB Hana Bank004940 | 11,837 | $87,887 | $87,399 | 15.6 yrs | |
| 35 | HITE Jinro000080 | 2,935 | $87,838 | $83,779 | 18.3 yrs | |
| 36 | Seoul Guarantee Insurance Company031210 | 1,547 | $87,442 | $86,982 | 13.9 yrs | |
| 37 | LG Uplus Corp032640 | 9,765 | $87,131 | $85,610 | 11.3 yrs | |
| 38 | Samsung C&T Corporation028260 | 9,261 | $87,010 | $84,062 | 15 yrs | |
| 39 | Hanwha Vision489790 | 1,060 | $86,862 | $81,757 | 11.7 yrs | |
| 40 | Shinhan BANK000010 | 12,781 | $86,303 | $85,957 | 15.4 yrs | |
| 41 | Kyongnam Bank192520 | 2,231 | $86,282 | $85,519 | 17.7 yrs | |
| 42 | HMM011200 | 1,933 | $85,922 | $84,182 | 9.3 yrs | |
| 43 | Korea ZINC INC010130 | 2,054 | $85,830 | $79,198 | 12.4 yrs | |
| 44 | LG Electronics INC066570 | 34,144 | $85,653 | $83,892 | 13.8 yrs | |
| 45 | Woori Bank000030 | 14,203 | $85,589 | $85,321 | 16.3 yrs | |
| 46 | Cheil Worldwide Inc030000 | 1,511 | $85,547 | $82,005 | 10.4 yrs | |
| 47 | Kookmin BANK060000 | 15,389 | $85,243 | $84,571 | 17.3 yrs | |
| 48 | Korea Aerospace Industries, LTD047810 | 5,241 | $85,101 | $84,295 | 13.7 yrs | |
| 49 | KakaoBank Corp323410 | 1,806 | $84,903 | $83,072 | 4.1 yrs | |
| 50 | Hyundai-Rotem Co064350 | 4,541 | $84,868 | $83,914 | 11.3 yrs | |
| 51 | Korean AIR Lines003490 | 18,318 | $83,921 | $83,221 | 18.4 yrs | |
| 52 | Hanwha LIFE Insurance088350 | 2,794 | $83,214 | $79,481 | 16.8 yrs | |
| 53 | Hyundai Engineering & Construction000720 | 6,900 | $83,065 | $81,192 | 13.8 yrs | |
| 54 | iM Bank005270 | 3,181 | $82,535 | $82,047 | 16.1 yrs | |
| 55 | SK Inc034730 | 4,419 | $82,203 | $77,876 | 11.7 yrs | |
| 56 | Standard Chartered Bank Korea Ltd000110 | 3,352 | $82,203 | $79,530 | 18 yrs | |
| 57 | Sebang Global Battery004490 | 1,284 | $81,984 | $80,555 | 12 yrs | |
| 58 | LG CNS064400 | 6,890 | $81,672 | $80,174 | 12.9 yrs | |
| 59 | KB Insurance002550 | 2,991 | $81,609 | $80,188 | 15.5 yrs | |
| 60 | KT&G Corporation033780 | 4,331 | $81,588 | $79,431 | 18.2 yrs | |
| 61 | Hyundai Glovis086280 | 2,319 | $80,810 | $78,102 | 7 yrs | |
| 62 | KRAFTON, Inc259960 | 2,118 | $80,138 | $74,200 | 3.2 yrs | |
| 63 | Hyundai Steel Company004020 | 11,694 | $79,764 | $78,746 | 14 yrs | |
| 64 | Pan Ocean028670 | 1,326 | $79,537 | $79,042 | 9.4 yrs | |
| 65 | Kakao Corp035720 | 3,922 | $79,226 | $76,080 | 6.3 yrs | |
| 66 | Samsung Biologics207940 | 5,455 | $79,007 | $77,013 | 4.9 yrs | |
| 67 | LG Energy Solution, LTD373220 | 12,922 | $78,958 | $76,752 | 8.2 yrs | |
| 68 | KT Corporation030200 | 14,701 | $78,031 | $76,617 | 19.3 yrs | |
| 69 | LG CHEM LTD051910 | 12,869 | $78,017 | $76,554 | 14 yrs | |
| 70 | Samsung Electro-Mechanics009150 | 12,173 | $77,862 | $77,035 | 15.8 yrs | |
| 71 | The Kwangju Bank, Ltd192530 | 1,759 | $77,819 | $74,822 | 12.6 yrs | |
| 72 | LIG Defense&Aerospace079550 | 5,382 | $77,459 | $75,840 | 10.4 yrs | |
| 73 | NC Corporation036570 | 3,262 | $77,084 | $71,216 | 7.5 yrs | |
| 74 | GS Engineering & Construction Corp006360 | 4,996 | $76,929 | $74,588 | 15.4 yrs | |
| 75 | HL Mando204320 | 3,828 | $76,787 | $74,836 | 18.4 yrs | |
| 76 | Hanwha Systems272210 | 4,855 | $76,059 | $74,765 | 10.6 yrs | |
| 77 | Doosan Enerbility034020 | 6,233 | $75,790 | $72,404 | 13.4 yrs | |
| 78 | Hyosung Corporation004800 | 1,030 | $75,394 | $69,102 | 9.5 yrs | |
| 79 | DL E&C375500 | 4,742 | $75,189 | $74,037 | 13.5 yrs | |
| 80 | Hanwha Investment&Securities003530 | 1,027 | $74,751 | $69,816 | 13.5 yrs | |
| 81 | Samsung Heavy Industries010140 | 10,589 | $74,489 | $74,143 | 17.2 yrs | |
| 82 | Hyundai Elevator017800 | 2,867 | $73,895 | $70,622 | 12 yrs | |
| 83 | Hyundaimarine&Fireinsuranceco.,Ltd001450 | 3,987 | $73,648 | $71,209 | 15.3 yrs | |
| 84 | Hanon Systems018880 | 2,223 | $73,577 | $73,309 | 18.6 yrs | |
| 85 | DB Insurance005830 | 4,716 | $73,316 | $71,414 | — | |
| 86 | Kumho Petro Chemical011780 | 1,606 | $73,231 | $68,395 | 13.1 yrs | |
| 87 | Lotte Chemical Corporation011170 | 4,349 | $72,913 | $71,082 | 14.6 yrs | |
| 88 | Seoyon E-Hwa200880 | 1,068 | $72,814 | $69,540 | 15.3 yrs | |
| 89 | THE Jeonbuk BANK LTD006350 | 1,432 | $72,538 | $71,159 | 11.3 yrs | |
| 90 | Celltrion, Inc068270 | 3,153 | $72,135 | $68,734 | 6.2 yrs | |
| 91 | Daewoo Engineering & Construction047040 | 5,146 | $72,079 | $71,046 | 16.5 yrs | |
| 92 | HD Construction Equipment267270 | 1,123 | $71,711 | $70,297 | 6.2 yrs | |
| 93 | Ssangyongc&E.Co.,Ltd003410 | 1,091 | $71,647 | $71,039 | 16.9 yrs | |
| 94 | KoreaGasCorporation036460 | 4,289 | $70,509 | $70,431 | 16.5 yrs | |
| 95 | Hankook TIRE & Technology161390 | 6,493 | $70,141 | $66,783 | 11.1 yrs | |
| 96 | Yuhan Corporation000100 | 2,153 | $70,092 | $67,561 | 12.7 yrs | |
| 97 | Hyundai Autoever Corporation307950 | 5,753 | $70,007 | $69,484 | 6.9 yrs | |
| 98 | Isupetasys007660 | 1,368 | $69,632 | $67,752 | 12.4 yrs | |
| 99 | LX Semicon108320 | 1,417 | $69,357 | $66,670 | 6.5 yrs | |
| 100 | Posco DX Company LTD022100 | 2,103 | $69,088 | $68,642 | 15 yrs |
Based on FY2025 annual reports filed with DART. "Excl. executives" deducts the pay of unregistered executives, who count as employees in the disclosures.
How the analysis was done
The National Pension Service (NPS), South Korea's public pension scheme, publishes the number of enrolled members and the premium billed that month for every workplace in the country. Premiums are charged at a flat rate on income, so dividing back out gives income per person.
- 01Collect everythingThrough the open API on data.go.kr, South Korea's public data portal, we pulled 12 points in time going back to 2015 — 6.23 million workplace rows. The most recent snapshot alone holds 590,000 workplaces.
- 02Work back from the premiumAmount billed ÷ members ÷ contribution rate = average assessed monthly income per person. We read the rate straight from the data for each snapshot — it rose from 9% to 9.5% in 2026.
- 03Check against DARTWe pulled disclosed payroll for the 2,999 listed companies, matched on company name, and verified the match against headcount. If a name matches the wrong company, the headcount is wildly off.
- 04Measure the errorFor the 1,746 companies with clean matches, we compared the estimates against the disclosed figures.
So how close did it get?
At companies where pay is low, the estimate holds up well. As pay rises, it breaks down fast.
| Company pay level | Estimate ÷ actual | Companies |
|---|---|---|
| 40–60% of the cap | 1.043 | 126 |
| 60–80% of the cap | 0.933 | 313 |
| 80–100% of the cap | 0.872 | 231 |
| 100–120% of the cap | 0.795 | 112 |
The cause is the cap on assessed monthly income. National Pension contributions are levied only on the first $4,504 (6,370,000 KRW) of monthly income. Someone earning $4,242 (6,000,000 KRW) a month and someone earning $21,210 (30,000,000 KRW) a month pay the same premium. In the data, the two end up as the same number.
And all 100 companies sit above it.
Even the 100th company in this table pays more than the cap. National Pension data alone therefore cannot rank pay at large companies — the limit is structural, not statistical. No correction formula fixes it: information that has been clipped off cannot be restored.
So what is this data good for?
Where DART cannot see. Fewer than 3,000 companies file annual reports, while the National Pension data covers 590,000 workplaces. Unlisted small and mid-sized firms, and month-by-month changes in headcount, are visible nowhere else. Paradoxically, this data works best everywhere except at the largest companies.
What to keep in mind
DART's "average pay per employee" is not a perfect answer key either. The numerator includes pay disbursed to people who left during the year, and the denominator differs from company to company — year-end headcount at some, average headcount over the year at others. "Employees" in the disclosures includes unregistered executives, which pushes the average up (the "Excl. executives" column in the table nets that out). These are pre-tax totals, not take-home pay.
Every figure in this article is either reproduced from published material or calculated by the method described, and all of them are company-level averages, not the pay of any individual worker.
Data sources
- National Pension Service — Register of workplaces enrolled in the National Pensiondata.go.kr dataset ID 15083277 · monthly snapshots · 12 points in time collected between 2015-11 and 2026-06https://www.data.go.kr/data/15083277/fileData.do
- Financial Supervisory Service — DART annual reports, "Status of Employees"OpenDART empSttus · unrstExctvMendngSttus · FY2024 and FY2025https://opendart.fss.or.kr
- National Pension Service — Upper and lower limits on assessed monthly income, and the contribution rateCap of $4,504 (6,370,000 KRW) applicable 2025-07 to 2026-06 · 2026 contribution rate of 9.5%https://www.nps.or.kr/pnsinfo/ntpsklg/getOHAF0038M0.do
Material from data.go.kr is used with attribution, as its terms of service require. If a figure is wrong or needs correcting, please tell us.