The annual salary for the newly elected lawmakers is expected to be around 138 million won ($118,000), the National Assembly said Monday.

According to the document published by the National Assembly secretariat, the scheduled annual payment is similar to that of the lawmakers of the 19th Assembly. The last time the government raised the salary was 2013 and the payment has remained the same since then.

Taking into account extra payment for business expenses such as the cost of running the office and supporting legislative work, the lawmakers’ salary amounts to 235 million won. Considering the payment given to his aides and staff, the total payment is estimated to be 676 million per year.

The six figure salary has often been singled out as extravagant privileges granted to the lawmakers. In a 2014 survey conducted by then main opposition Democratic United Party, more than 70 percent of respondents said that the lawmakers’ high income was “unnecessary” and that the salary should be reduced.

A 2014 analysis by the Korea Employment Information Service ranked members of the Assembly as holding the fourth highest-earning job. The lawmakers’ annual salary is lower than that of Cabinet ministers (156 million won), but higher than that of vice or deputy ministers (135 million won).

Compared to other advanced democracies, South Korean lawmakers’ annual salary is higher than their counterparts in the U.K., where it was 112 million won as of 2012, and in France where it was 126 million won as of 2010, according to data from the Assembly secretariat. 

In a move to address concerns, lawmakers-elect and political parties have vowed to cut back their salary and use the money to support legislative affairs. The ruling Saenuri Party has announced that it would have its members divert 2.5 million won of the monthly salary to create an advisory group for the lawmakers.

The main opposition The Minjoo Party of Korea’s lawmaker-elect Kim Young-choon said he would push to cut back lawmakers’ salary by 30 percent. The progressive Justice Party plans to cut the salary to 75 million won per year, which is almost five times higher than minimum wage.

By Yeo Jun-suk (jasonyeo@heraldcorp.com)