Government concerned about income inequality: Finance Minister
- 6 years ago
김동연 "분배악화 대응과제, 필요시 예산•세제안에 적극 반영"
The South Korean government is concerned about widening income inequality.
Finance Minister Kim Dong-yeon said on Thursday that the government sees the fall in average income for the low-income households and worsening income inequality as an important issue.
He cited unemployment and a slump in wholesale and retail markets, as well as an increase in older households due to aging population as factors driving income inequality.
The minister added that income inequality comes from structural problems and that a long-term policy is needed to tackle the issue.
The comments came after Statistics Korea reported that the disparity in earnings widened despite real household income increasing in the first quarter compared to the previous year.
The South Korean government is concerned about widening income inequality.
Finance Minister Kim Dong-yeon said on Thursday that the government sees the fall in average income for the low-income households and worsening income inequality as an important issue.
He cited unemployment and a slump in wholesale and retail markets, as well as an increase in older households due to aging population as factors driving income inequality.
The minister added that income inequality comes from structural problems and that a long-term policy is needed to tackle the issue.
The comments came after Statistics Korea reported that the disparity in earnings widened despite real household income increasing in the first quarter compared to the previous year.