Income inequality in S. Korea drops to 32nd out of 36 OECD members
Arirang News
2019-04-11
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한국 가계 소득격차 확대…OECD 36개국 중 32위
South Korea's income gap is getting worse compared to other members of the OECD.
Statistics Korea on Thursday reported that South Korea dropped to 32nd out of 36 OECD members in a ranking measuring the gap between rich and poor.
Only Mexico, Chile and the U.S. had a wider wealth gap than South Korea.
The report was based on the so-called "Palma ratio" -- in which the share of income of the top 10 percent of earners is divided by the share of the lowest 40 percent of earners.
South Korea's income gap is getting worse compared to other members of the OECD.
Statistics Korea on Thursday reported that South Korea dropped to 32nd out of 36 OECD members in a ranking measuring the gap between rich and poor.
Only Mexico, Chile and the U.S. had a wider wealth gap than South Korea.
The report was based on the so-called "Palma ratio" -- in which the share of income of the top 10 percent of earners is divided by the share of the lowest 40 percent of earners.
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