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More than Half of S. Koreans Pessimistic About Children’s Ability to Climb Social Ladder

More than Half of S. Koreans Pessimistic About Children’s Ability to Climb Social Ladder

SEJONG, Nov. 25 (Korea Bizwire) — More than half of South Koreans believe their children cannot move up the social ladder, a survey showed Monday. The survey released by Statistics Korea showed that 55.5 percent of those surveyed said they do not think their children can ascend to a higher social status, down from 55 [...]

No Silver Spoon, No Social Mobility

No Silver Spoon, No Social Mobility

SEOUL, Jan. 10 (Korea Bizwire) — A recently released report from the Korea Institute for Health and Social Affairs indicates that the number of young adults hoping for higher social status has sharply decreased. Young adults no longer believe moving up the social hierarchical ladder is possible without inheriting wealth from their parents. Not so [...]