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S. Koreans' annual earnings peak at age 45: Statistics Korea Updated: 2020-12-07 17:25:13 KST

New data show that South Koreans reach their peak earnings at the age of 45.
That's according to Statistics Korea, which says that in 2017, the average income of a 45-year-old was around 31-thousand U.S. dollars.
The data showed that South Koreans on average make more than they spend between the ages of 28 and 58.
But from age 59, spending starts to outpace earnings due to healthcare costs.
Also in 2017, taxes paid by the working age population between the ages of 15 and 64
amounted to roughly 116 billion dollars.
And in a sign of Korea's ageing population, a little over half of that amount was spent on senior citizens through the national healthcare and pension systems.
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