Recent statistics found that income increased for all age groups except for those in their 20s and younger.

Statistics Korea released a report on social trends in 2023 on Friday, which included data on household income showing that people in their 20s and younger averaged 31-point-14 million won, or around 24-thousand U.S. dollars, down seven-point-four percent compared to 2018.

In contrast, income increased over the same period by eleven-point-five percent for those in their 30s, ten-point-eight percent for those in the 40s, ten-point-six percent for those in their 50s and 22-point-five percent for those in their 60s or older.

As a result, those in their 20s and under surpassed those in their 60s for the age group with the lowest income.

The survey also concluded that the amount of debt held by people in their 20s or younger in 2022 stood at 50-point-14 million won, an increase of 93-point-five percent compared to 2018.