Highest-Paid Singers Earn About $ 3 Million in a Year

Credit: Ollie Millington/Redferns
Credit: Ollie Millington/Redferns, Billboard

The top 1% of singers earn more than 3.4 billion KRW (about 2,992,000 USD) a year.

According to data submitted by National Tax Service (NTS) upon request from Rep. Yang Kyung Sook, 6,372 Korean singers that reported their 2018 annual income earned a total of 409.5 billion KRW (about 363 million USD) in income. The average income per capita stands at 64.28 million KRW (about 57,000 USD).

Data showed that the top 1% earners �” 63 of them �” earned a combined 217.1 billion KRW (about 192 million USD). In 2014, the top 1% income was 48.1% of the total, but in 2018, four years later, the ratio increased to 53.0%, proving that the wealth gap among the singers has widened over the years.

The income of 18,072 people in the industry, including actors, MCs, comedians and voice actors, totaled 653.18 billion KRW (about 579 million USD) in 2018, earning 36.14 million KRW (about 32,025 USD) per person. The top 1% income earners �” 180 of them �” earned 306.4 billion KRW (about 272 million USD) annually, which is 46.9% of the total income. Each of these 1% earners made an average of 1.7 billion KRW (about 1.5 million USD) every year.

Source (1)

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