The Value of Money, in Ramen
All scenes › Chapter 4 Why it still feels that way
The last few years
Wages 19.2% · prices 16.6%
View in 3DThe last few years: the saying was right
But the last few years tell a different story. Data on workers' monthly wages starts in 2020. From 2020 to 2025, workers' average wages rose about 19.2%, but prices also rose about 16.6%. The green bar (wages) and the red bar (prices) are almost the same height. Prices rose about as much as wages, so what people could buy stayed almost the same.
Why?In particular, in 2022 and 2023, prices rose faster than wages. In years like those, it really does feel like "wages stay the same, but prices keep rising."
Learn moreHere, wages mean the average monthly pay of people working at companies (Labor Force Survey at Establishments, before tax). This is different data from "what one person earns" in the earlier scene. The bars are stretched so the difference is easier to see.
- How much wages rose, 2020 → 2025
- 19.2%
- Monthly wage, 2020
- about 3,530,000 won
- Monthly wage, 2025
- about 4,210,000 won
calculated from Bank of Korea ECOS data and recorded ramen prices
View this scene in 3D →Read more
Bank of Korea · Economic Statistics System (ECOS, in Korean)
More in the series
Prices, money, income, wages and interest rates come from the Bank of Korea Economic Statistics System (ECOS); ramen prices come from the National Archives of Korea and the Korea Price Research Center (as reported). All income and wage figures are averages. The banknote and ramen packs in the 3D view are sample drawings, not real designs or brands.