Income Inequality Archives | Be Korea-savvy
S. Korea’s Income Gap Hits Record High in Q4

S. Korea’s Income Gap Hits Record High in Q4

SEJONG, Feb. 21 (Korea Bizwire) — South Korea’s household income inequality hit a record high in the fourth quarter of 2018, government data showed Thursday. An average household earned 4.6 million won (US$4,000) per month in the October-December period, up 3.6 percent from the previous year, according to the data compiled by Statistics Korea. The [...]

Gap Between Rich and Poor Nowhere More Pronounced Than Star-Driven Entertainment Industry

Gap Between Rich and Poor Nowhere More Pronounced Than Star-Driven Entertainment Industry

Seoul, Oct. 27 (Korea Bizwire) – Despite a commonly spoken refrain that roughly translates to “the most pointless worrying in the world is worrying over celebrities”, a National Tax Service (NTS) document revealing the stark gap in earnings of the top 10 percent of entertainers compared to the rest of the field is challenging the [...]

Most Seoul Residents No Longer Believe in Social Mobility, Survey Finds

Most Seoul Residents No Longer Believe in Social Mobility, Survey Finds

SEOUL, June 9 (Korea Bizwire) – Nearly seven in ten Seoul residents say they have little to no hope of moving up the social ladder, giving social equality in South Korean society a score of 4.5 on a scale of one to ten. When asked about the prospects of improving their social and financial status [...]