The monthly average income of households, including one-person households, amounted to 4,825,000 won (3,772 U.S. dollars) in the January-March quarter, up 10.1 percent from a year earlier, according to Statistics Korea.
It marked the fastest quarterly increase since relevant data began to be compiled in 2006.
The double-digit growth came as the government lifted all anti-COVID-19 measures except an indoor mask mandate, leading to expanded employment, especially in the services industry.
The monthly average earned income jumped 10.2 percent over the year to 3,062,000 won (2,394 U.S. dollars) in the first quarter, while business income advanced 12.4 percent to 862,000 won (674 U.S. dollars).
Public transfer income gained 9.5 percent as the government offered cash handouts to the self-employed and small merchants affected by the COVID-19 pandemic.
Real household income, adjusted for inflation, added 6.0 percent in the first quarter on a yearly basis owing to the accelerated headline inflation.
The monthly average household expenditure picked up 6.2 percent from a year earlier to 3,496,000 won (2,733 U.S. dollars) in the first quarter.
Consumption expenditure grew 4.7 percent to 2,531,000 won (1,979 U.S. dollars) in the cited quarter due to higher spending on education, leisure and culture and the eatery and lodging services.
Non-consumption expenditure, such as the payment of taxes and social insurance premiums, expanded 10.5 percent to 965,000 won (754 U.S. dollars).
Real household expenditure added 0.8 percent in the first quarter from a year earlier.
The monthly average disposable income climbed 10 percent to 3,860,000 won (3,018 U.S. dollars) in the first quarter.
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