OECD report urges South Korea to make greater efforts to tackle income inequality
- 6 years ago
South Korea is being urged to allocate more government funds to strengthen the nation's income distribution.
According to a new report by the OECD, South Korea's relative poverty rate in 2015 or the proportion of people earning less than half their country's median income was 17-point-seven percent by market income or total wages and salaries before tax,... but 13-point-eight percent by disposable income after tax.
The OECD says that means the South Korean government's fiscal contribution to income distribution was 22 percent in 2015.
The figure was far below the OECD average of almost 57 percent.
According to a new report by the OECD, South Korea's relative poverty rate in 2015 or the proportion of people earning less than half their country's median income was 17-point-seven percent by market income or total wages and salaries before tax,... but 13-point-eight percent by disposable income after tax.
The OECD says that means the South Korean government's fiscal contribution to income distribution was 22 percent in 2015.
The figure was far below the OECD average of almost 57 percent.