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In Korea, inequalities have declined, while gaps have widened??

  • Date 2024-02-28
  • Hits 111

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Video Description

Type: KIHASA Policy Featurette

Topic: In Korea, inequalities have declined, while gaps have widened??

Guest Speaker: Lee, Tae Soo, President, KIHASA


Transcript

The graph shows a clear, continuous decline of the Gini coefficient for disposable income since 2016. This is the result of a combination of various efforts, including a significant relaxation of the family support obligation rule in the Basic Livelihood Security System, an increase in the minimum wage, and the implementation of various public work projects. These efforts can be commended for their significant impact on reducing inequality.

But what about the public’s perception? Specifically, does the general public view the state of disparity with optimism? A KIHASA survey found that 74.3 percent of the general public and a higher 76 percent of experts viewed the current state of gaps as highly worrying.

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