In 2023, the relative poverty rate in South Korea stood at around 14.9 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 19 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 40 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 13,978 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.

In 2021, more than 39 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 Poverty Gap at $1.90 a Day: 2011 PPP: % data was reported at 0.100 % in 2012. This records a decrease from the previous number of 0.200 % for 2010. Korea Poverty Gap at $1.90 a Day: 2011 PPP: % data is updated yearly, averaging 0.200 % from Dec 2006 (Median) to 2012, with 4 observations. The data reached an all-time high of 0.200 % in 2010 and a record low of 0.100 % in 2012. Korea Poverty Gap at $1.90 a Day: 2011 PPP: % 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 gap at $1.90 a day (2011 PPP) is the mean shortfall in income or consumption from the poverty line $1.90 a day (counting the nonpoor as having zero shortfall), expressed as a percentage of the poverty line. This measure reflects the depth of poverty as well as its incidence. 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.

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 Increase in Poverty Gap at $1.90: Poverty Line Due To Out-of-Pocket Health Care Expenditure: 2011 PPP: % of Poverty Line data was reported at 0.000 % in 2008. This records a decrease from the previous number of 0.001 % for 2007. Korea Increase in Poverty Gap at $1.90: Poverty Line Due To Out-of-Pocket Health Care Expenditure: 2011 PPP: % of Poverty Line data is updated yearly, averaging 0.001 % from Dec 1999 (Median) to 2008, with 7 observations. The data reached an all-time high of 0.004 % in 2005 and a record low of 0.000 % in 1999. Korea Increase in Poverty Gap at $1.90: Poverty Line Due To Out-of-Pocket Health Care Expenditure: 2011 PPP: % of Poverty Line 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: Poverty. Increase in poverty gap at $1.90 ($ 2011 PPP) poverty line due to out-of-pocket health care expenditure, as a percentage of the $1.90 poverty line; ; Wagstaff et al. Progress on Impoverishing Health Spending: Results for 122 Countries. A Retrospective Observational Study, Lancet Global Health 2017.; Weighted average;

Korea Income Share Held by Highest 20% data was reported at 39.000 % in 2012. This records a decrease from the previous number of 39.400 % for 2010. Korea Income Share Held by Highest 20% data is updated yearly, averaging 39.300 % from Dec 2006 (Median) to 2012, with 4 observations. The data reached an all-time high of 39.700 % in 2008 and a record low of 39.000 % in 2012. Korea Income Share Held by Highest 20% 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: Poverty. Percentage share of income or consumption is the share that accrues to subgroups of population indicated by deciles or quintiles. Percentage shares by quintile may not sum to 100 because of rounding.; ; 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. See PovcalNet (http://iresearch.worldbank.org/PovcalNet/WhatIsNew.aspx) for definitions of geographical regions and industrialized countries.

Korea Proportion of Population Pushed Below the $3.10: Poverty Line by Out-of-Pocket Health Care Expenditure: 2011 PPP: % data was reported at 0.040 USD in 2008. This records a decrease from the previous number of 0.045 USD for 2007. Korea Proportion of Population Pushed Below the $3.10: Poverty Line by Out-of-Pocket Health Care Expenditure: 2011 PPP: % data is updated yearly, averaging 0.040 USD from Dec 1999 (Median) to 2008, with 7 observations. The data reached an all-time high of 0.066 USD in 2006 and a record low of 0.028 USD in 2004. Korea Proportion of Population Pushed Below the $3.10: Poverty Line by Out-of-Pocket Health Care Expenditure: 2011 PPP: % 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. Proportion of population pushed below the $3.10 ($ 2011 PPP) poverty line by out-of-pocket health care expenditure, expressed as a percentage of a total population of a country; ; Wagstaff et al. Progress on Impoverishing Health Spending: Results for 122 Countries. A Retrospective Observational Study, Lancet Global Health 2017.; Weighted Average;

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.

As of 2023, South Korea had a Gini coefficient of 0.32 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 10 percent of the population has an average monthly income of more than 11 times higher than that of the poorest 10 percent in 2023.

As of the first quarter of 2024, the wealthiest ten percent claimed to have a monthly income of around 15.4 million South Korean won. A comparison between the wealthiest and poorest groups revealed that the richest earned over eleven times more than the poorest in South Korea per month.

Corée, République de: Poverty, percent of population: Pour cet indicateur, La Banque mondiale fournit des données pour la Corée, République de de à . La valeur moyenne pour Corée, République de pendant cette période était de pour cent avec un minimum de pour cent en et un maximum de pour cent en .

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.

Corée, République de: Poverty ratio, percent living on less than 1.90 USD a day: Pour cet indicateur, La Banque mondiale fournit des données pour la Corée, République de de 2006 à 2021. La valeur moyenne pour Corée, République de pendant cette période était de 0.17 pour cent avec un minimum de 0 pour cent en 2019 et un maximum de 0.5 pour cent en 2010.

KR：贫困差距增加，按1.90美元衡量：因自付医保低于贫困线：2011年购买力平价：贫困线百分比在12-01-2008达0.000%，相较于12-01-2007的0.001%有所下降。KR：贫困差距增加，按1.90美元衡量：因自付医保低于贫困线：2011年购买力平价：贫困线百分比数据按年更新，12-01-1999至12-01-2008期间平均值为0.001%，共7份观测结果。该数据的历史最高值出现于12-01-2005，达0.004%，而历史最低值则出现于12-01-1999，为0.000%。CEIC提供的KR：贫困差距增加，按1.90美元衡量：因自付医保低于贫困线：2011年购买力平价：贫困线百分比数据处于定期更新的状态，数据来源于World Bank，数据归类于全球数据库的韩国 – Table KR.World Bank.WDI：贫困。

According to the Global Hunger Index 2024, which was adopted by the International Food Policy Research Institute, Somalia was the most affected by hunger and malnutrition, with an index of 44.1. Yemen and Chad followed behind. The World Hunger Index combines three indicators: undernourishment, child underweight, and child mortality. Sub-Saharan Africa most affected The index is dominated by countries in Sub-Saharan Africa. In the region, more than one fifth of the population is undernourished . In terms of individuals, however, South Asia has the highest number of undernourished people. Globally, there are 735 million people that are considered undernourished or starving. A lack of food is increasing in over 20 countries worldwide. Undernourishment worldwide The term malnutrition includes both undernutrition and overnutrition. Undernutrition occurs when an individual cannot maintain normal bodily functions such as growth, recovering from disease, and both learning and physical work. Some conditions such as diarrhea, malaria, and HIV/AIDS can all have a negative impact on undernutrition. Rural and agricultural communities can be especially susceptible to hunger during certain seasons. The annual hunger gap occurs when a family’s food supply may run out before the next season’s harvest is available and can result in malnutrition. Nevertheless, the prevalence of people worldwide that are undernourished has decreased over the last decades, from 18.7 percent in 1990-92 to 9.2 percent in 2022, but it has slightly increased since the outbreak of COVID-19. According to the Global Hunger Index, the reduction of global hunger has stagnated over the past decade.