S. Korea’s top office says measures to narrow income gap are working, but data …

S. Korea’s top office says measures to narrow income gap are working, but data …


now recent government data on household
income here in South Korea shows the inequality between the top and bottom
20% brackets have reached a new high after being on the receiving end of a
wave of harsh media criticism South Korea’s presidential office responded on
Sunday exists insisting the figures are not a true reflection of what’s actually
happening in the country Oh Sooyoung with the details the presidential office
of char they insist income inequality in South Korea has not worsened despite
recent government data that paints a different picture statistics korea
second quarter data released last week seems to indicate the worst level of
household income inequality in more than a decade between April and June the
average household earns around 3,900 US dollars a month up 3.8 percent on-year
however the monthly income for the bottom 20 percent income bracket
remained unchanged from the year before averaging $1,090 the top 20 percent earn
nearly seven thousand eight hundred dollars a month on average marking a 3.2
percent increase compared to the same period in 2018 this comes despite the
mundane administration’s push to generate income driven growth for the
country tither defended its efforts the top office a senior secretary for
economic affairs CEO song says sunday that the average income for the bottom
20 percent bracket was no longer in the red which he said should be viewed
positively he said various policy efforts such as strengthen social safety
nets has had a positive effect and the average household income level for 2018
to 2019 is comparatively higher than previous years the official added some
33 billion dollars will be set aside for next year’s government budget nearly
half of which will be invested in social welfare was young Arirang news

Author: Kennedi Daugherty

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