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Top 20% of S. Korean Income Earners Spend Over 4 Times Than Bottom 20%

Written: 2020-05-07 18:26:38Updated: 2020-05-07 18:47:54

Top 20% of S. Korean Income Earners Spend Over 4 Times Than Bottom 20%

Photo : YONHAP News

A new national household expenditure survey shows an enduring trend of income bipolarization in South Korea. 

The survey released by Statistics Korea on Thursday compared the bottom 20 percent and top 20 percent of households in terms of income levels last year. 

Lower-income households that earned a monthly average of one-point-65 million won spent one-point-02 million won each month while higher-income households making six-point-27 million won spent four-point-one times as much at four-point-22 million won. 

The two groups’ expenditure gap particularly widened to nearly 23 times in the area of education where the former spent only 22-thousand won per month while the latter 504-thousand won. 

Meanwhile, an average household nationwide spent two-point-46 million won every month last year.

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