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'Top 0.1% of Income Earners Make 1,000 Times More Than Bottom 10%'

Written: 2018-09-02 12:25:36Updated: 2018-09-02 14:44:48

'Top 0.1% of Income Earners Make 1,000 Times More Than Bottom 10%'

Photo : KBS News

State data shows the top point-one percent of income earners made about one thousand times more than the bottom ten percent last year, highlighting the widening income gap.

According to Rep. Sim Sang-jeung's analysis of statistics by the National Tax Service, about 17-thousand-700 people or the top point-one percent in terms of earned income reported an average of 660 million in earned income last year.

That's about one thousand times more than 690-thousand won, an average income of the bottom ten percent.

The combined income of the top bracket came to eleven-point-eight trillion won, accounting for two-point-six percent of the total reported income of 17-point-seven million people.

Also, the combined earned income of the top ten percent reached 165 trillion won, taking up 37 percent of the total reported income.

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