In 2023, the relative poverty rate in South Korea stood at around **** percent, which was the same as the previous year. The relative poverty rate, the share of people living with less than half of the national median disposable income, has fallen in recent years. However, the numbers are still relatively high by global standards, especially among older people. Relative poverty among older adults The share of older people in South Korea continues to rise. In 2023, the elderly population aged 65 years and older accounted for about ** percent of the total South Korean population. In 2024, South Korea has become a 'super-aged' society, with people aged 65 and older accounting for more than 20 percent of the total population. However, the economic situation of older people has improved little – around ** percent of the elderly population lives in relative poverty, which is among the highest rates of member countries of the Organization for Economic Co-operation and Development (OECD). Poverty and suicide risk among older adults South Korea has the highest suicide rate in the OECD, with ****** people taking their own lives in 2023. The suicide rate among older adults is exceptionally high. The suicide rate was highest among the elderly male population aged 80 years and older. The most cited causes of suicide among people aged 65 years and older were health problems and financial difficulties.

South Korea poverty rate for 2021 was 0.50%, a 0% increase from 2020.

<ul style='margin-top:20px;'>

<li>South Korea poverty rate for 2020 was <strong>0.50%</strong>, a <strong>0% increase</strong> from 2019.</li>
<li>South Korea poverty rate for 2019 was <strong>0.50%</strong>, a <strong>0.5% decline</strong> from 2018.</li>
<li>South Korea poverty rate for 2018 was <strong>1.00%</strong>, a <strong>0.2% decline</strong> from 2017.</li>
</ul>Poverty headcount ratio at $5.50 a day is the percentage of the population living on less than $5.50 a day at 2011 international prices. As a result of revisions in PPP exchange rates, poverty rates for individual countries cannot be compared with poverty rates reported in earlier editions.

North Korea poverty rate for was 0.00%, a 0% increase from .

<ul style='margin-top:20px;'>

<li>North Korea poverty rate for was <strong>0.00%</strong>, a <strong>0% increase</strong> from .</li>
<li>North Korea poverty rate for was <strong>0.00%</strong>, a <strong>0% increase</strong> from .</li>
<li>North Korea poverty rate for was <strong>0.00%</strong>, a <strong>0% increase</strong> from .</li>
</ul>Poverty headcount ratio at $5.50 a day is the percentage of the population living on less than $5.50 a day at 2011 international prices. As a result of revisions in PPP exchange rates, poverty rates for individual countries cannot be compared with poverty rates reported in earlier editions.

In 2021, more than ** percent of people over 65 years in South Korea were living in relative poverty. This was the second-highest rate among member countries of the Organization for Economic Co-operation and Development (OECD).

Korea Relative Poverty Rate: All Households: Disposable Income data was reported at 14.700 % in 2016. This records an increase from the previous number of 13.800 % for 2015. Korea Relative Poverty Rate: All Households: Disposable Income data is updated yearly, averaging 14.700 % from Dec 2006 (Median) to 2016, with 11 observations. The data reached an all-time high of 15.300 % in 2009 and a record low of 13.800 % in 2015. Korea Relative Poverty Rate: All Households: Disposable Income data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H066: Household Income and Expenditure Survey (HS): Income Distribution.

In 2022, the overall poverty rate based on disposable income in South Korea amounted to **** percent of the total population living below the poverty line. However, this was doubled among the disabled population, with almost ** percent living in poverty.

Korea Relative Poverty Rate: All Households: Mkt Income data was reported at 19.500 % in 2016. This records an increase from the previous number of 18.600 % for 2015. Korea Relative Poverty Rate: All Households: Mkt Income data is updated yearly, averaging 17.900 % from Dec 2006 (Median) to 2016, with 11 observations. The data reached an all-time high of 19.500 % in 2016 and a record low of 16.600 % in 2006. Korea Relative Poverty Rate: All Households: Mkt Income data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H066: Household Income and Expenditure Survey (HS): Income Distribution.

Korea Relative Poverty Rate: excl 1 ppl & Farm Households: Disposable In data was reported at 11.100 % in 2016. This records an increase from the previous number of 10.400 % for 2015. Korea Relative Poverty Rate: excl 1 ppl & Farm Households: Disposable In data is updated yearly, averaging 12.250 % from Dec 2003 (Median) to 2016, with 14 observations. The data reached an all-time high of 13.000 % in 2009 and a record low of 10.400 % in 2015. Korea Relative Poverty Rate: excl 1 ppl & Farm Households: Disposable In data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H066: Household Income and Expenditure Survey (HS): Income Distribution.

Korea Relative Poverty Rate: excl 1 ppl & Farm Households: Mkt Income data was reported at 15.600 % in 2016. This records an increase from the previous number of 14.500 % for 2015. Korea Relative Poverty Rate: excl 1 ppl & Farm Households: Mkt Income data is updated yearly, averaging 14.750 % from Dec 2003 (Median) to 2016, with 14 observations. The data reached an all-time high of 15.600 % in 2016 and a record low of 13.100 % in 2003. Korea Relative Poverty Rate: excl 1 ppl & Farm Households: Mkt Income data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H066: Household Income and Expenditure Survey (HS): Income Distribution.

Out of all OECD countries, Cost Rica had the highest poverty rate as of 2022, at over 20 percent. The country with the second highest poverty rate was the United States, with 18 percent. On the other end of the scale, Czechia had the lowest poverty rate at 6.4 percent, followed by Denmark.

The significance of the OECD

The OECD, or the Organisation for Economic Co-operation and Development, was founded in 1948 and is made up of 38 member countries. It seeks to improve the economic and social well-being of countries and their populations. The OECD looks at issues that impact people’s everyday lives and proposes policies that can help to improve the quality of life.

Poverty in the United States

In 2022, there were nearly 38 million people living below the poverty line in the U.S.. About one fourth of the Native American population lived in poverty in 2022, the most out of any ethnicity. In addition, the rate was higher among young women than young men. It is clear that poverty in the United States is a complex, multi-faceted issue that affects millions of people and is even more complex to solve.

Korea Poverty Headcount Ratio at $3.20 a Day: 2011 PPP: % of Population data was reported at 0.700 % in 2012. This stayed constant from the previous number of 0.700 % for 2010. Korea Poverty Headcount Ratio at $3.20 a Day: 2011 PPP: % of Population data is updated yearly, averaging 0.700 % from Dec 2006 (Median) to 2012, with 4 observations. The data reached an all-time high of 0.700 % in 2012 and a record low of 0.700 % in 2012. Korea Poverty Headcount Ratio at $3.20 a Day: 2011 PPP: % of Population data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: Poverty. Poverty headcount ratio at $3.20 a day is the percentage of the population living on less than $3.20 a day at 2011 international prices. As a result of revisions in PPP exchange rates, poverty rates for individual countries cannot be compared with poverty rates reported in earlier editions.; ; World Bank, Development Research Group. Data are based on primary household survey data obtained from government statistical agencies and World Bank country departments. Data for high-income economies are from the Luxembourg Income Study database. For more information and methodology, please see PovcalNet (http://iresearch.worldbank.org/PovcalNet/index.htm).; ; The World Bank’s internationally comparable poverty monitoring database now draws on income or detailed consumption data from more than one thousand six hundred household surveys across 164 countries in six regions and 25 other high income countries (industrialized economies). While income distribution data are published for all countries with data available, poverty data are published for low- and middle-income countries and countries eligible to receive loans from the World Bank (such as Chile) and recently graduated countries (such as Estonia) only. The aggregated numbers for low- and middle-income countries correspond to the totals of 6 regions in PovcalNet, which include low- and middle-income countries and countries eligible to receive loans from the World Bank (such as Chile) and recently graduated countries (such as Estonia). See PovcalNet (http://iresearch.worldbank.org/PovcalNet/WhatIsNew.aspx) for definitions of geographical regions and industrialized countries.

0,20 (%) in 2021. Population below $3.1 a day is the percentage of the population living on less than $3.1 a day at 2005 international prices. As a result of revisions in PPP exchange rates, poverty rates for individual countries cannot be compared with poverty rates reported in earlier editions.

North Korea: Poverty, percent of population: The latest value from is percent, unavailable from percent in . In comparison, the world average is 0.00 percent, based on data from countries. Historically, the average for North Korea from to is percent. The minimum value, percent, was reached in while the maximum of percent was recorded in .

Multidimensional Poverty Headcount Ratio: World Bank: % of total population data was reported at 0.100 % in 2021. This stayed constant from the previous number of 0.100 % for 2020. Multidimensional Poverty Headcount Ratio: World Bank: % of total population data is updated yearly, averaging 0.100 % from Dec 2010 (Median) to 2021, with 9 observations. The data reached an all-time high of 0.400 % in 2010 and a record low of 0.100 % in 2021. Multidimensional Poverty Headcount Ratio: World Bank: % of total population data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Korea – Table KR.World Bank.WDI: Social: Poverty and Inequality. The multidimensional poverty headcount ratio (World Bank) is the percentage of a population living in poverty according to the World Bank's Multidimensional Poverty Measure. The Multidimensional Poverty Measure includes three dimensions – monetary poverty, education, and basic infrastructure services – to capture a more complete picture of poverty.;World Bank, Poverty and Inequality Platform. Data are based on primary household survey data obtained from government statistical agencies and World Bank country departments. Data for high-income economies are mostly from the Luxembourg Income Study database. For more information and methodology, please see http://pip.worldbank.org.;;The World Bank’s internationally comparable poverty monitoring database now draws on income or detailed consumption data from more than 2000 household surveys across 169 countries. See the Poverty and Inequality Platform (PIP) for details (www.pip.worldbank.org).

In 2023, South Korea had a Gini coefficient of **** for after-tax income. The Gini coefficient of South Korea has decreased over the past decade. What is the Gini coefficient? The Gini coefficient is a number that ranges from zero to one, used to measure the degree of inequality in income distribution. A Gini coefficient of zero indicates minimum inequality, meaning everyone in the population receives the same adjusted household income. Conversely, a coefficient of one signifies maximum inequality, where one person receives all the adjusted household income while everyone else receives none. Countries typically have a Gini coefficient of income distribution between 0.3 (30 percent) and 0.75 (75 percent). Wealth distribution in South Korea South Korea's economically active population has been increasing over the past decade. Alongside this expansion, the net disposable income in the country has also been rising over the past 20 years. Despite these developments, significant disparities in wealth remain a pressing issue within South Korean society. For example, the wealthiest ** percent of the population had an average monthly income that was more than ** times higher than that of the poorest ** percent in 2023.

Korea Relative Poverty Rate: Urban Households: Market Income data was reported at 15.400 % in 2016. This records an increase from the previous number of 14.200 % for 2015. Korea Relative Poverty Rate: Urban Households: Market Income data is updated yearly, averaging 12.200 % from Dec 1990 (Median) to 2016, with 27 observations. The data reached an all-time high of 15.400 % in 2016 and a record low of 7.200 % in 1991. Korea Relative Poverty Rate: Urban Households: Market Income data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H066: Household Income and Expenditure Survey (HS): Income Distribution.

Korea Poverty Headcount Ratio at $5.50 a Day: 2011 PPP: % of Population data was reported at 1.300 % in 2012. This records a decrease from the previous number of 1.700 % for 2010. Korea Poverty Headcount Ratio at $5.50 a Day: 2011 PPP: % of Population data is updated yearly, averaging 1.350 % from Dec 2006 (Median) to 2012, with 4 observations. The data reached an all-time high of 1.700 % in 2010 and a record low of 1.300 % in 2012. Korea Poverty Headcount Ratio at $5.50 a Day: 2011 PPP: % of Population data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: Poverty. Poverty headcount ratio at $5.50 a day is the percentage of the population living on less than $5.50 a day at 2011 international prices. As a result of revisions in PPP exchange rates, poverty rates for individual countries cannot be compared with poverty rates reported in earlier editions.; ; World Bank, Development Research Group. Data are based on primary household survey data obtained from government statistical agencies and World Bank country departments. Data for high-income economies are from the Luxembourg Income Study database. For more information and methodology, please see PovcalNet (http://iresearch.worldbank.org/PovcalNet/index.htm).; ; The World Bank’s internationally comparable poverty monitoring database now draws on income or detailed consumption data from more than one thousand six hundred household surveys across 164 countries in six regions and 25 other high income countries (industrialized economies). While income distribution data are published for all countries with data available, poverty data are published for low- and middle-income countries and countries eligible to receive loans from the World Bank (such as Chile) and recently graduated countries (such as Estonia) only. The aggregated numbers for low- and middle-income countries correspond to the totals of 6 regions in PovcalNet, which include low- and middle-income countries and countries eligible to receive loans from the World Bank (such as Chile) and recently graduated countries (such as Estonia). See PovcalNet (http://iresearch.worldbank.org/PovcalNet/WhatIsNew.aspx) for definitions of geographical regions and industrialized countries.

Korea Relative Poverty Rate: Urban Households: Disposable Income data was reported at 11.000 % in 2016. This records an increase from the previous number of 10.400 % for 2015. Korea Relative Poverty Rate: Urban Households: Disposable Income data is updated yearly, averaging 10.800 % from Dec 1990 (Median) to 2016, with 27 observations. The data reached an all-time high of 13.100 % in 2009 and a record low of 6.500 % in 1992. Korea Relative Poverty Rate: Urban Households: Disposable Income data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H066: Household Income and Expenditure Survey (HS): Income Distribution.

In 2022, South Korea's elderly population is facing rapidly increasing medical expenses, with total spending reaching around 45.8 trillion won. This marks a staggering 178 percent increase over the past decade, reflecting the growing healthcare needs of the country's aging population. This is putting pressure on the country’s overall spending on healthcare and social welfare. Further, many still struggle financially and cannot solely survive off their savings and pensions. Demographic shift fueling healthcare costs South Korea's elderly population is a key factor behind the growing medical expenses. By 2022, the number of people aged 65 years and over had reached approximately nine million. This figure is projected to more than double by 2050, potentially reaching 19 million by then. The elderly are taking up an increasing share of the total medical expenditure, rising from around 34 percent in 2012 to over 44 percent in 2021. As this demographic continues to expand, healthcare demands and associated costs are likely to rise further, putting pressure on both public and private healthcare resources. Korean society’s role in senior social welfare A 2022 survey found that the majority of people considered the responsibility of caring for elderly parents to lie with the combined forces of family, society, and the government. However, almost one in four held the view that this was primarily the responsibility of each individual family. A similar share of retired seniors was partially financed by support from their children or other relatives, though this number was far lower among those who were still working. Despite this, and the large annual increase in total national pension benefits paid out every year, 61 percent of seniors reported having insufficient means to live comfortably. Such insufficiency has partly led to South Korea having one of the highest relative elderly poverty rates among all OECD countries.

In 2023, the suicide rate in South Korea was particularly high among the elderly population over the age of **, with **** deaths per 100,000 population. The overall suicide rate among people aged 10 to 79 years increased compared to the previous year. Suicide was the leading cause of death among people aged 10 to 39 years. Suicide among the elderlySouth Korea has the highest suicide rate in the Organisation for Economic Co-operation and Development (OECD). One driving factor for suicide among the elderly is poverty. Almost half of the senior citizens in the country live with less than half the median disposable income. Many do not want to become a financial burden for their families and end up committing suicide as a result of not being able to support themselves.Suicide prevention Since the South Korean government implemented its initial suicide prevention program in 2004, numerous measures have been put in place to address the alarmingly high suicide rate. However, these efforts have not been very successful. Despite an increase in the annual budget for suicide prevention, it still remains significantly lower compared to international standards. If you are having suicidal thoughts, or you know someone who is, it is essential to seek help. Many countries have suicide crisis or prevention lines that offer free advice and support in such situations. If you live in the United States, you can reach the Suicide & Crisis Lifeline by simply calling *** to receive free and confidential support ****. If you live in South Korea you can call the suicide prevention hotline ***.