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.

Yearly (annual) dataset of the South Korea Poverty Rate, including historical data, latest releases, and long-term trends from 2006-12-31 to 2021-12-31. Available for free download in CSV format.

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.

Historical dataset showing South Korea poverty rate by year from 2006 to 2021.

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.

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).

South Korea: Poverty ratio, percent living on less than 5.50 USD a day: The latest value from 2021 is 0.5 percent, unchanged from 0.5 percent in 2020. In comparison, the world average is 25.11 percent, based on data from 71 countries. Historically, the average for South Korea from 2006 to 2021 is 1.21 percent. The minimum value, 0.5 percent, was reached in 2019 while the maximum of 2.2 percent was recorded in 2010.

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.

South 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 South Korea from to is percent. The minimum value, percent, was reached in while the maximum of percent was recorded in .

South Korea Poverty Headcount Ratio at Societal Poverty Lines: % of Population data was reported at 14.200 % in 2021. This records an increase from the previous number of 14.000 % for 2020. South Korea Poverty Headcount Ratio at Societal Poverty Lines: % of Population data is updated yearly, averaging 15.200 % from Dec 2006 (Median) to 2021, with 11 observations. The data reached an all-time high of 17.200 % in 2016 and a record low of 14.000 % in 2020. South Korea Poverty Headcount Ratio at Societal Poverty Lines: % of 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 poverty headcount ratio at societal poverty line is the percentage of a population living in poverty according to the World Bank's Societal Poverty Line. The Societal Poverty Line is expressed in purchasing power adjusted 2017 U.S. dollars and defined as max($2.15, $1.15 + 0.5*Median). This means that when the national median is sufficiently low, the Societal Poverty line is equivalent to the extreme poverty line, $2.15. For countries with a sufficiently high national median, the Societal Poverty Line grows as countries’ median income grows.;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).

Poverty gap at $1.9 a day of Republic of Korea plummeted by 100.00% from 0.1 % in 2014 to 0.0 % in 2016. 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.

Korea Poverty Headcount Ratio at $1.90 a Day: 2011 PPP: % of Population data was reported at 0.300 % in 2012. This stayed constant from the previous number of 0.300 % for 2010. Korea Poverty Headcount Ratio at $1.90 a Day: 2011 PPP: % of Population data is updated yearly, averaging 0.300 % from Dec 2006 (Median) to 2012, with 4 observations. The data reached an all-time high of 0.300 % in 2012 and a record low of 0.300 % in 2012. Korea Poverty Headcount Ratio at $1.90 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 $1.90 a day is the percentage of the population living on less than $1.90 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.

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.

Poverty gap at $3.2 a day of Republic of Korea sank by 50.00% from 0.2 % in 2014 to 0.1 % in 2016. Poverty gap at $3.20 a day (2011 PPP) is the mean shortfall in income or consumption from the poverty line $3.20 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.

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 Proportion of Population Pushed Below the $1.90: Poverty Line by Out-of-Pocket Health Care Expenditure: 2011 PPP: % data was reported at 0.002 % in 2008. This records a decrease from the previous number of 0.003 % for 2007. Korea Proportion of Population Pushed Below the $1.90: Poverty Line by Out-of-Pocket Health Care Expenditure: 2011 PPP: % data is updated yearly, averaging 0.003 % from Dec 1999 (Median) to 2008, with 7 observations. The data reached an all-time high of 0.013 % in 2004 and a record low of 0.001 % in 1999. Korea Proportion of Population Pushed Below the $1.90: 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 $1.90 ($ 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;

Korea Increase in Poverty Gap at $3.10: Poverty Line Due To Out-of-Pocket Health Care Expenditure: 2011 PPP: % of Poverty Line data was reported at 0.007 % in 2008. This records a decrease from the previous number of 0.009 % for 2007. Korea Increase in Poverty Gap at $3.10: Poverty Line Due To Out-of-Pocket Health Care Expenditure: 2011 PPP: % of Poverty Line data is updated yearly, averaging 0.009 % from Dec 1999 (Median) to 2008, with 7 observations. The data reached an all-time high of 0.015 % in 2006 and a record low of 0.004 % in 1999. Korea Increase in Poverty Gap at $3.10: 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 Korea – Table KR.World Bank: Poverty. Increase in poverty gap at $3.10 ($ 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;

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 Number of People Pushed Below the $1.90: Poverty Line by Out-of-Pocket Health Care Expenditure: 2011 PPP data was reported at 1,000.000 Person in 2008. This records a decrease from the previous number of 2,000.000 Person for 2007. Korea Number of People Pushed Below the $1.90: Poverty Line by Out-of-Pocket Health Care Expenditure: 2011 PPP data is updated yearly, averaging 2,000.000 Person from Dec 1999 (Median) to 2008, with 7 observations. The data reached an all-time high of 6,000.000 Person in 2004 and a record low of 0.000 Person in 1999. Korea Number of People Pushed Below the $1.90: 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. Number of people pushed below the $1.90 ($ 2011 PPP) poverty line by out-of-pocket health care expenditure; ; Wagstaff et al. Progress on Impoverishing Health Spending: Results for 122 Countries. A Retrospective Observational Study, Lancet Global Health 2017.; Sum;