SEJONG, Oct. 15 (Korea Bizwire) – As South Korea grapples with one of the world’s lowest birth rates, a new study suggests that rising income inequality may be a significant contributing factor, prompting calls for integrated redistribution and birth support policies. The research, presented at a recent fiscal policy forum by Lee Jong Ha, a professor [...]
SEOUL, Oct. 9 (Korea Bizwire) – A new study from South Korea has uncovered a disturbing link between diabetes, economic hardship, and suicide risk, highlighting the urgent need for social attention and practical support for vulnerable patients. The Korean Diabetes Association (KDA) reported on October 8 that low-income individuals with diabetes face a suicide risk 4.34 times [...]
SEJONG, Oct. 8 (Korea Bizwire) – A recent analysis of tax data has revealed significant income disparities within South Korea’s professional sectors, with lawyers and accountants showing particularly pronounced inequality. According to a report released on October 7 by Park Sung-hoon, a lawmaker from the People Power Party, the top 10% of earners in these professions accounted [...]
SEOUL, Oct. 2 (Korea Bizwire) — The government on Wednesday unveiled additional financial support for low-income earners that include complete debt forgiveness for those who are willing but unable to repay their loans. The move comes amid sharp increases in household debts and the number of people going bankrupt. The number of people filing for [...]
SEOUL, Sept. 30 (Korea Bizwire) – A recent analysis of South Korea’s health insurance system has revealed a significant disparity affecting many self-employed individuals. According to data from the National Health Insurance Service, approximately 230,000 self-employed business owners are paying health insurance premiums based on their highest-paid employees’ salaries, even when their own incomes are lower. [...]
SEJONG, Sept. 23 (Korea Bizwire) – A stark revelation about the economic struggles of South Korea’s self-employed population has emerged from recent tax data, showing that nearly 75% of individual business owners reported monthly incomes below 1 million won in 2022. The figures, released by the National Tax Service and analyzed by Representative Park Sung-hoon of [...]
SEOUL, Sept. 2 (Korea Bizwire) — A recent survey has revealed that approximately 80% of South Korean workers are either currently engaged in side jobs or considering taking on additional work, highlighting the economic pressures faced by many in the country’s workforce. The survey results, released by the job search app Albamon on August 29, polled [...]
SEOUL, Jun. 5 (Korea Bizwire) – South Korea’s leading food delivery platform, Baemin, has announced that its delivery riders working over 40 hours per week earned an average monthly income of 3.93 million won from January to April this year. This figure represents a notable increase of 400,000 won (11.3%) compared to the same period in [...]
SEOUL, May 20 (Korea Bizwire) – The average rental income for individuals in the top 0.1% of landlords residing in Seoul neared a staggering 1.3 billion won, highlighting a stark divide in the capital compared to other regions of South Korea. The average for this elite tier in Seoul was 4.7 times higher than in Sejong, [...]
SEOUL, Apr. 1 (Korea Bizwire) – A survey of South Korean office workers has revealed that an automatic parental leave system paired with income protection during leave is viewed as the most critical labor policy needed to address the nation’s chronically low birth rates. According to the civic group Gabjil 119, which polled 1,000 office employees, [...]