Income gap (PG)▶ Click here to enlarge
It was found that the top 0.1%’super high-income class’ earned more money a year than the bottom 26% of the population’s income combined.
According to the data received from the National Tax Service by Yang Gyeong-sook of the National Assembly’s Planning and Finance Committee on the 4th, the combined income of 24,149 people, the top 0.1%, was 36,66239 billion won. .
The average per person is 1516.65 million won.
Integrated income is the sum of earned income and comprehensive income (business income, financial income, rental income) and can be viewed as the total income of an individual.
The share of integrated income of the top 0.1% attributable to 2019 was 4.19%, a 0.04 percentage point (p) larger than in 2018. Their consolidated income exceeded the combined income of about 6.28 million in the lower 26% (34,5538 billion won).
The combined income of 241,494 people in the top 1% totaled 98.159 billion won, an average of 455.87 million won per person.
In the median section of the top 49-50%, 241,494 people earned an average of 25.08 million won.
The average combined income per capita of the top 0.1% and 1% is 60 and 16 times, respectively, in the median segment.
When the combined income is divided into thousands of percentiles according to the type of income, financial income such as dividend income and interest income has become more severe.
The top 0.1% of earned income accounted for 2.05%, but the top 0.1% of dividend income and interest income accounted for 47.00% and 17.43%, respectively.
The average income gap between the top 0.1% and the median section also reached 27 times as much as earned income, but in the combined financial income and business/rental income, this gap reached 236 times.
Rep. Yang Kyung-sook said, “The trend of wealth in financial income called’unearned income’ is more severe than the result of hard work, which is called’unearned income’, which slows the improvement of the overall income (integrated income) gap.” Amid concerns, we will actively seek alternatives to alleviate asset polarization and inequality.”
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