S. Korea's income gap hits record high in Q4
SEJONG, Feb. 21 (Yonhap) -- South Korea's household income inequality hit a record high in the fourth quarter of 2018, government data showed Thursday.
An average household earned 4.6 million won (US$4,000) per month in the October-December period, up 3.6 percent from the previous year, according to the data compiled by Statistics Korea.
The monthly average income of the bottom 20 percent income bracket dropped 17.7 percent on-year to 1.23 million won due mainly to a sharp decline in the number of people employed.
The number of jobless households accounted for 55.7 percent of the bottom 20 percent income bracket in the fourth quarter, compared with 43.6 percent from a year earlier, according to the Ministry of Economy and Finance.
In contrast, households in the upper 20-percent-income range earned 9.32 million won during the fourth quarter, up 10.4 percent vis-a-vis the same three month period in 2017.
Consequently, the country's distribution ratio for disposable income -- a key barometer of earnings equality -- reached 5.47, the highest level for any fourth quarter since 2003, when such data began to be compiled.
entropy@yna.co.kr
(END)
-
All BTS members renew contract with BigHit
-
Top court upholds life sentence for woman over drowning death of husband for insurance money
-
Late wife of Australian veteran of Korean War laid to rest in Busan
-
Remains of another Korean War soldier identified
-
(LEAD) Fighter jet crashes in Seosan; pilot makes emergency escape
-
Top court upholds life sentence for woman over drowning death of husband for insurance money
-
Late wife of Australian veteran of Korean War laid to rest in Busan
-
24 teachers caught illegally selling exam questions to private educators
-
Remains of another Korean War soldier identified
-
(LEAD) Fighter jet crashes in Seosan; pilot makes emergency escape
-
All BTS members renew contract with BigHit
-
Presidential office to discuss with China on Xi's possible visit to S. Korea
-
S. Korea, U.S. stage joint naval drills in East Sea amid N.K. threats
-
Russian FM to visit Pyongyang next month as follow-up to Kim-Putin summit
-
S. Korea, China, Japan to hold talks this week to discuss three-way summit