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Top 1% of Investment Income Earners Made Average of 4.45 Bln Won in 2016

Written: 2018-10-24 11:12:01Updated: 2018-10-24 11:28:51

Top 1% of Investment Income Earners Made Average of 4.45 Bln Won in 2016

Photo : YONHAP News

The top one percent of South Korean taxpayers earned an average of four-point-45 billion won in 2016.  

Ruling Democratic Party lawmaker Kim Doo-gwan's office revealed on Wednesday 2016 data from the National Tax Service regarding the nation's top one percent income earners in four categories -- income from financial investment, business, real estate rental and salary. 

According to the data, the average income from financial investment was 18-point-three times bigger than the comparable figure for salaried workers, which was 243 million won. 

Investment income accounted for 34 percent of total earnings from the top one percent earners, followed by income from businesses with 22 percent, rental income with 18 percent and income from salary with seven-point-three percent.

Rep. Kim called for the government to abolish some tax break rules on investment income to reduce the gap between investment and salary income.

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