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Gini Coefficient Readings Suggest Income Inequality in S. Korea

Written: 2015-12-08 10:43:50Updated: 2015-12-08 15:26:32

Gini Coefficient Readings Suggest Income Inequality in S. Korea

A think tank says inequality in household income and spending in South Korea has not shown signs of improvement.
 
In its 2015 Poverty Statistics Yearbook, the Korea Institute for Health and Social Affairs pointed out that the nation's latest Gini coefficient figures stood at stagnant or deteriorating levels last year.
 
The Gini coefficient for disposable income jumped as high as zero-point-305 in 2008 during the global financial crisis but has been stagnant since dropping to zero-point-294 in 2013.
 
The Gini index for consumer expenditure also decreased up until 2012 but climbed back again since 2013 to a financial crisis-level.
 
The Gini coefficient is a commonly used measure of income inequality, gauging the income distribution of a nation's residents. A reading of zero expresses perfect equality, while a coefficient of one expresses maximal inequality.
 

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