Wage Cost

Country comparison

Korea vs Latvia

Compare average wages, historical trends and everyday price levels across two economies. A common wage-year frame and a visible United States = 100 price benchmark keep the view comparable.

All Countries
Korea$61,2592025 · PPP-adjusted annual wage

Overall Price Level: 60.10 · 2024

Data reviewed: August 2026

Latvia$44,7092025 · PPP-adjusted annual wage

Overall Price Level: 52.20 · 2024

Data reviewed: August 2026

Compare average wages, historical trends and everyday price levels across two economies. A common wage-year frame and a visible United States = 100 price benchmark keep the view comparable.

Wage trend comparison

How Wages Have Changed

$64k$55k$47k$38k$29k20152025PPP-adjusted annual wage (USD)

USD PPP, constant 2025 prices · click a legend name to hide it; at least one line remains.

Price Level Comparison

Compare Everyday Price Levels

Compare eight consumer price categories using the United States benchmark of 100.

OverallKorea +7.9
FoodKorea +45.8
ClothingKorea +10.5
HousingKorea +6.9
HealthKorea +6.0
TransportLatvia +12.6
RecreationKorea +0.7
RestaurantsKorea +7.0
Korea 60.10Latvia 52.20
Overall
Korea 60.10
Latvia 52.20
Difference Korea +7.90
Food
Korea 136.00
Latvia 90.20
Difference Korea +45.80
Clothing
Korea 103.00
Latvia 92.50
Difference Korea +10.50
Housing
Korea 38.00
Latvia 31.10
Difference Korea +6.90
Health
Korea 37.00
Latvia 31.00
Difference Korea +6.00
Transport
Korea 73.80
Latvia 86.40
Difference Latvia +12.60
Recreation
Korea 71.60
Latvia 70.90
Difference Korea +0.70
Restaurants
Korea 82.40
Latvia 75.40
Difference Korea +7.00

Key Differences

Understanding Korea and Latvia

Korea records a higher 2025 PPP-adjusted annual wage than Latvia, while both countries have overall price levels below the U.S. benchmark in 2024. The page keeps the arithmetic difference visible but does not turn it into a causal explanation or a living-standard judgement.

Wage Comparison

Korea shows the higher PPP-adjusted annual wage: $16,550 (37.0%) more than Latvia. Over the latest reported year, both economies recorded positive one-year wage changes (+0.58% and +3.34%). The widest price category gap is Food at 45.8 index points, and both overall price levels sit below the U.S. benchmark of 100 in 2024. Wages are reported for 2025, while prices cover 2024; the two datasets are labelled separately.

Price Profile

Both overall price indices remain below the United States benchmark. Korea is marginally higher overall, while the largest category difference appears in Food, where Korea exceeds Latvia by 45.8 index points. Each value remains relative to the United States = 100 benchmark.

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Data Notes

Wage data: 2025 common-year PPP-adjusted annual wages. Price data: 2022–2024, United States = 100. Missing values display – without zero fill, interpolation, or automatic year fallback.

Data reviewed: August 2026