SEOUL, Oct. 28 (Korea Bizwire) – South Korea’s income inequality among self-employed business owners has reached striking levels, with the top 10% of business income earners making seven times the average income, according to new tax data. National Assembly data released on October 27 reveals that the top 10% of business income earners, approximately 847,354 individuals, [...]
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 [...]
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, Aug. 2 (Korea Bizwire) – The opening of a premium coffee shop in Seoul’s upscale Cheongdam-dong district has ignited controversy over luxury pricing in a time of high inflation, highlighting the growing economic disparities in South Korean society. Lotte Department Store introduced Bacha Coffee, a Moroccan luxury coffee brand, to South Korea on August 1. The [...]
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, [...]
SEJONG, Feb. 28 (Korea Bizwire) – A striking wage gap has emerged in South Korea, with graduates from the top 20% of universities earning up to 50% more than those from the bottom 20%. This significant disparity is fueling intense competition for university admissions, contributing to social issues such as low birth rates and regional imbalances, [...]
SEOUL, Jan. 20 (Korea Bizwire) – Assortative mating inequality in South Korea is lower than in other countries while the proportion of single-person or single-parent households in the country is also lower than in other nations, a central bank report said Thursday. In a recent study, the Bank of Korea reported that the Gini coefficient of [...]
SEOUL, Dec. 31 (Korea Bizwire) — A number of low-income households had less than an appropriate amount of food with less or no consideration for a balanced diet last year. The Korea Disease Control and Prevention Agency conducted an analysis of national health and nutritional surveys, which showed that only 86.6 percent of low-income households [...]
SEOUL, Sept. 27 (Korea Bizwire) — A recent study has shown that the increase in land prices greatly outpaced that of consumer prices last year, deepening inequality in land ownership. According to a report released by the Institute of Land and Liberty on the basis of government data, land prices in South Korea grew by [...]
SEOUL, June 23 (Korea Bizwire) — More than two thirds of South Koreans from the so-called MZ generation see income inequality as a social problem. Accounting firm Deloitte Anjin LLC announced the results of a survey conducted by Deloitte Global with the participation of 22,928 millennials (born between 1983 and 1994) and Generation Z (born [...]