Recent National Tax Service figures reveal a growing income polarization among medical professionals, while trends vary across dental, oriental medicine, and pharmacy sectors.

SEOUL — South Korea’s medical professionals, particularly physicians, have seen their average business earnings climb significantly, though the data also points to a widening gap between high- and middle-earning practitioners.

According to data compiled by the National Tax Service and made public by lawmakers on November 27, the comprehensive income tax reports filed for the 2024 tax year show that 43,718 practicing doctors reported a combined business income of approximately 17.56 trillion won.

This translates to an average annual business income of 402 million won per doctor, marking a 24 million won increase from the 378 million won recorded in 2023. Meanwhile, the total head count of reporting doctors grew slightly by 1,110 from 42,608 the previous year.

Widening Disparity Between Average and Median Despite the rising overall average, income distribution within the profession remains skewed by high earners. The median business income—representing the midpoint where half earn more and half earn less—was logged at 264 million won for 2024, showing a marginal rise of just 1 million won (0.4%) from 263 million won in 2023.

Because the average climbed sharply while the median remained relatively stable, the gap between the two figures expanded by 23 million won in a single year, rising from a difference of 115 million won in 2023 to 138 million won in 2024.

Over a broader seven-year span, doctors' earnings have experienced robust growth. Average business income jumped 53% from 263 million won in 2017 to 402 million won in 2024, while median income advanced 51.7% from 174 million won over the same period. Financial analysts note, however, that earnings were not entirely linear; the average dipped temporarily from 398 million won in 2022 to 378 million won in 2023 before bouncing back to a new high in 2024.

Mixed Financial Trajectories for Other Medical Fields Other licensed medical and health sectors displayed varying economic fortunes according to the 2024 tax statistics:

Dentists: Average business earnings crept up by 2 million won to reach 222 million won, with the median income also ticking up by 2 million won to 169 million won.
Oriental Medicine Doctors: Average annual income rose by 16 million won to hit 119 million won, while the median income increased by 6 million won to 77 million won.
Pharmacists and Herbal Pharmacists: Unlike their physician and practitioner counterparts, pharmacists saw a slight contraction in earnings. Their average business income dropped from 103 million won to 101 million won, and the median income edged down from 80 million won to 78 million won.

[ⓒ Global Economic Times. 무단전재-재배포 금지]