Half of Korean Academics Earn Over W100 Million a Year

      November 30, 2017 12:30

      Nearly half of Korea's academics are paid at least W100 million a year, according to the office of lawmaker Yoo Eun-hye on Wednesday (US$1=W1,078).

      Yoo's office analyzed annual salaries of 227 universities nationwide.

      At 88 out of 179 private universities, or 49.4 percent, a professor earns over W100 million, and at national or public universities the proportion is 42.4 percent or 14 out of 33.

      The country's highest-paid academic is a professor in the medical school of Konkuk University, who is paid W1.44 billion in combined salary and research funding.

      Ulsan National Institute of Science and Technology (UNIST) pays the highest average salary for full professors with W213.66 million, 12 times more than the lowest, which is W17.89 million paid by the obscure Youngsan University of Son Studies, which offers courses in Won Buddhism.

      But overall regional differences are what one would expect. Full professors in private universities in Seoul earn an average of W106.28 million, in metropolitan cities W99.45 million and in the rest of the country W89.42 million.

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