SEOUL, May 26 (Korea Bizewire) — Single-member households in South Korea remain vulnerable to poverty despite increased state employment projects and fiscal spending, a report said Tuesday. The relative poverty rate of such households, referring to the percentage of people with income below 50 percent of the median income, edged down to 51.3 percent in [...]
SEOUL, March 15 (Korea Bizwire) – The poverty rate of South Korea’s elderly was by far the highest among advanced countries, while the net pension replacement rate for the population was one of the lowest, a report showed Sunday. According to the report from the government-funded Korea Labor Institute, South Korea’s poverty rate among elderly [...]
SEOUL, Nov. 27 (Korea Bizwire) — Korea’s effect of taxes and social spending on poverty reduction turned out smallest among Organization for Economic Cooperation and Development member nations. According to the 2014 Household Finance and Welfare Survey released on November 26, Korea’s poverty rate in 2013 was 18.9 percent in terms of market income and 16.4 percent in [...]