Average annual salary of 37.4 million won last year… 850,000 annual salaries

The average annual salary per worker last year was around 37 million won.

The number of’billionaires’ was 850,000, less than 5% of the total.

◇ Average annual salary of 37.4 million won for workers… 850,000 annual salaries

According to the ‘2020 National Tax Statistical Yearbook’ published by the National Tax Service on the 29th, the number of workers who reported year-end settlement of earned income last year was 19.17 million, an increase of 3.1% from the previous year.

Of these, 7.75 million (36.8%) had a determined tax amount of ‘0 won’. The proportion dropped by 2.1 percentage points from 2018 (38.9%). Of these, 986 had an annual salary of over 100 million won, but earned income tax was 0 won due to various deductions.

The total salary equivalent to the’pre-tax annual salary’ of the year-end settlement worker was on average 37.4 million won, an increase of 2.7% from the previous year.

The number of’billionaire annual salaries’ exceeding 100 million won was 852,000 (4.4% of the total), an increase of 50,000 from the previous year.

The average gross income per person for daily wage earners (7.46,000 people) was 8,07 million won, down 20,000 won from a year ago.

◇ 159,000 people report financial income over 20 million won

Last year, the number of people who filed comprehensive income tax increased by 9.9% to 7.95 million people, and the reported tax amount increased by 8.9% to 34.89 trillion won.

159,000 taxpayers reported comprehensive income tax due to financial income of over 20 million won last year. It increased by 30,000 (23.6%) from 2018. 4,810 people reported that they earned more than 500 million won in financial income.

◇ 990,000 asset transfers, 4.6% decrease… Only the stock transfer increases rapidly

Last year, the number of reported asset transfers was 992,000, down 4.6% from 2018. The transfer of land (-7.2%), housing (-18.3%), real estate rights (-20.5%), and other buildings (-12.5%) decreased. However, the stock transfer jumped 91.7%.

This is because the transfer of unlisted stocks surged from 72,000 cases to 141,000 cases. Foreign stocks are included in unlisted stocks, but the number of foreign stock investors has increased since last year, so stock transfer reports have also increased sharply. Overseas stocks are subject to capital gains tax, even if they are not owned by major shareholders.

The average transfer price of houses that reported capital gains tax (undertaxable, excluding tax for one-family, one-family house) was found to be 348 million won, up 2.3% from 2018. The average transfer price by region was Seoul, which was the highest with 738 million won, followed by Gyeonggi (312 million won) and Daegu (2999 million won).

Last year, the number of public interest corporations for mandatory disclosure of financial statements increased to 9,860, 450 more than a year ago. The project cost of the `public interest purpose project` reported by these organizations is 15.4% higher than last year, totaling 115,4161 billion won. Among them, they reported that they spent 10,295 trillion won in project execution expenses and 12.15 trillion won in general management expenses. 35.1 billion won was spent for fundraising.

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