Income inequality deepens in Q2

[THE INVESTOR] South Korea’s income inequality worsened in the second quarter of the year, Statistics Korea data showed on Aug. 19.

According to the data, the income of households in the bottom 20 percent dropped 6 percent compared to the same period last year to come in at about 1.39 million won (US$1,240).

In contrast, that of the top 20 percent of households increased 1.7 percent to come in at 8.21 million won per month.

The drop in the lowest income households’ earnings was attributed to falls in the employment rates of seniors, temporary workers and day laborers.

By Choi He-suk (cheesuk@heraldcorp.com)