It found that the top 0.1% of high income earners in Korea earned more than 3.3 billion won per person in a year. Compared to the bottom 20%, they earn 1400 times more.
According to the percentile income data presented by the National Tax Service by Democratic Party lawmaker Jin Seon-mi, the total income earned by 9,399 income earners in the top 0.1% of global income as of 2021 was 31,128.5 billion and won. In terms of average per capita income, 3.33 billion was earned. Global income is the sum of the different types of income attributed to individuals, such as business income, earned income, interest income, dividend income, pension income, and other income.
On the other hand, the income earned by 1,867,893 earners in the bottom 20% was 4,450.5 billion won, with an average per capita income of 2.38 million earned. In other words, the difference in income between the top 0.1% and the bottom 20% has reached 1,400 times.
Income concentration in the top group is increasing. In 2021, the income earned by the top 0.1% earners accounted for 10.4% of total comprehensive income. The share of the top 0.1% of total comprehensive income exceeded 10% for the first time in 2020 (10.2%), and then increased to 10.4% in 2021.
