Key Facts: South Korea vs Cayman Islands Wages
- South Korea Minimum Wage
- ₩10,320/hr ($6.84 USD)
- Cayman Islands Minimum Wage
- $8.75/hr ($10.50 USD)
- South Korea Avg. Gross Monthly Salary
- ₩3,960,000 /mo ($2,624.88 USD)
- Data Sources
- Minimum Wage Commission (최저임금위원회) (2026-05-15), Cayman Islands Government — Department of Labour and Pensions (2026-05-04)
South Korea 
Cayman Islands
Updated 2026-05-15
Cayman Islands Minimum Wage
$8.75 /hr
$10.50 USD
The minimum wage in South Korea is 35% lower than in the Cayman Islands in USD terms, though average salaries tell a different story.
Detailed Comparison
| Metric | South Korea | Cayman Islands |
|---|---|---|
| Minimum wage /hr | ₩10,320 $6.84 | $8.75 $10.50 |
| Minimum wage /mo | ₩2,156,880 $1,429.69 | $1,516.67 $1,820.08 |
| Minimum wage /yr | ₩25,882,560 $17,156.22 | $18,200 $21,840.87 |
| Avg. gross salary /mo | ₩3,960,000 /mo $2,624.88 | N/A/mo |
| Avg. net salary /mo | ₩3,170,000 /mo $2,101.23 | N/A/mo |
| Median individual income /yr | ₩33,360,000 /yr $22,112.63 | N/A/yr |
Percentage differences are based on USD equivalent values. Positive means South Korea is higher.
Work Week
- South Korea
-
40 hrs/wk standard
Max 52 hrs/wk
Overtime : 1.5x pay
Labour Standards Act sets 40 hrs/week base with maximum 12 hrs overtime (52 total). Overtime, night work (10pm-6am), and holiday work each receive a 50% premium. Businesses with 5-49 employees had a phased implementation completed in 2021. Government proposed a flexible 69-hour weekly cap in 2023 but withdrew after public backlash.
- Cayman Islands
-
40 hrs/wk standard
Max 48 hrs/wk
Overtime : 1.5x pay
Standard workweek is 40 hours under the Labour Act.
• WAGE TRAJECTORY (USD/hr)
What This Means for Workers
A minimum wage worker in South Korea earns 54% less per hour in USD terms than one in the Cayman Islands.
See this comparison from Cayman Islands's perspective: Cayman Islands vs South Korea
Compare South Korea with...
South Korea vs United States $ 7.25 /hr 
South Korea vs China ¥ 25 /hr 
South Korea vs Germany € 13.9 /hr 
South Korea vs United Kingdom £ 12.71 /hr 
South Korea vs India ₹ 4,576 /mo 
South Korea vs Japan ¥ 1,121 /hr 
South Korea vs France € 12.02 /hr 
South Korea vs Canada C$ 18.1 /hr 
South Korea vs Australia A$ 24.95 /hr 
South Korea vs Brazil R$ 7.37 /hr 
South Korea vs Russia ₽ 156.31 /hr 
South Korea vs Mexico MX$ 9,583.52 /mo 
South Korea vs Indonesia Rp 33,058 /hr 
South Korea vs Netherlands € 14.71 /hr 
South Korea vs Saudi Arabia ﷼ 23.08 /hr 
South Korea vs Turkey ₺ 164.94 /hr 
South Korea vs Taiwan NT$ 190 /hr 
South Korea vs Switzerland 
South Korea vs Poland zł 31.4 /hr 
South Korea vs Thailand ฿ 10,400 /mo 
South Korea vs Sweden 
South Korea vs Argentina ARS 1,762 /hr 
South Korea vs Singapore 
South Korea vs Norway Frequently Asked Questions
Is the minimum wage higher in South Korea or Cayman Islands?
In South Korea, the minimum wage is ₩10,320/hr ($6.84 USD). In the Cayman Islands, it is $8.75/hr ($10.50 USD). Cayman Islands has the higher rate by 54% in USD terms. That nominal gap does not account for local prices; see the purchasing power comparison below for a cost-of-living-adjusted view. Workers in South Korea may retain a larger share of their earnings if prices there are lower.
How do work hours compare between South Korea and Cayman Islands?
Both South Korea and Cayman Islands mandate a similar standard work week of 40 hours. When work hours are equal, the country with the higher minimum wage delivers proportionally higher weekly earnings. Standard work week rules set the baseline; actual hours worked often differ based on industry norms and individual employment contracts.