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Surviving on Empty Pockets: French Expats in Korea Reveal the Shocking 2.05 Million Won Reality Check

Surviving on Empty Pockets: French Expats in Korea Reveal the Shocking 2.05 Million Won Reality Check

September 13, 2024 Catherine Williams - Chief Editor Business

French People’s Perception of Minimum Monthly Cost of‍ Living Revealed


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[Image source: Pixabay]

A recent survey⁤ has shed⁢ light on the minimum monthly cost of⁤ living in France,‍ with ⁢respondents citing approximately ⁢2.05 million⁣ won as the benchmark.

Ipsos, a renowned public opinion research company,⁢ conducted a⁣ survey ‌on poverty indicators among 996 individuals in France last May, with the⁤ results published on the 12th (local time).

The⁢ survey ‌revealed that the poverty ⁣level assessed by the French people was 1,396 euros (approximately 2,055,000 won), marking a 19-euro (about ⁢27,000 won) increase from the previous year.

Notably, this figure is almost identical to the actual French ‍minimum wage of 1,398 ⁢euros (2,058,000 won).

Ipsos has been⁢ publishing indicators ​of poverty felt by the ⁢French people annually​ since 2007, at the request ⁣of the French private aid organization (Secours Populaire).

The baseline for assessing poverty⁤ varied by region, with the metropolitan area’s subjective poverty baseline standing at 1,431 euros (2,106,000 won), while‌ rural areas reported 1,388 euros ‌(2,043,000 won).

Families with at least one child⁢ under 18 had a higher poverty threshold of⁢ 1,447 euros (2.13 million won), compared to families without ‌children (1,377 euros, 2.027 million won).

Only 48%⁣ of⁤ respondents reported being ​able to⁢ save money, while 16% stated they were in a financial deficit.

According to the subjective poverty baseline,‍ 62%⁤ of respondents reported experiencing poverty or being at risk of​ facing poverty, a ​4-percentage-point increase from​ the previous year.

Specifically, 80% of workers, 70% of those⁣ aged between‌ 45 and 59, and 69% of rural residents reported experiencing poverty⁢ or being on the verge of ‍poverty. Among low-income households with a monthly household‍ income ⁤of​ less than 1,200⁣ euros ‍(1,766,000 won), this ratio ⁢was 77%.

Respondents also expressed concerns about the next generation’s risk of poverty, with 79% of those questioned stating they were worried about ​their children’s future. This⁤ rate reached​ 86% among ⁢parents ‍with children under⁣ 18.

The negative impact of financial struggles on everyday life was evident, with 47% ⁣of French‍ people⁢ struggling to pay ​their energy bills, a 2-percentage-point increase from the⁣ previous year and the highest ever recorded.

Additionally, 38% of⁣ respondents reported trouble paying rent or a mortgage, while 29% struggled ⁣to pay health insurance premiums.

As purchasing power declines, 43% of French people reported ‘sometimes ​or regularly’ not heating their homes when it’s cold, while 32% stated they ‘sometimes or regularly’ reduced their daily meals ⁢to less than three.

Ipsos noted, “The survey results show⁤ that the instability felt by the ‍French people⁤ is⁢ worsening,” and added, “It is particularly worrying⁣ that some vulnerable groups⁢ have less access to essential public goods such ​as energy⁤ and medical care.”

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