Top 0.1 pct of S. Koreans earn US$1.26 mln in 2018

SEOUL, The highest 0.1 percent of the income bracket in South Korea earned 1.47 billion won (US$1.26 million) in 2018, over 60 times more than that for median income earners, government data showed Tuesday.
The 0.1 percent top income earners, which numbered 23,246, reported a combined annual income of 34.2 trillion won, according to the data, which the National Tax Service provided for an annual parliamentary inspection.
The per capita income for the highest 0.1 percent of the income bracket was 61 times more than the average 35.5 million-won annual income for those in the middle of the bracket.
The total income for the top 0.1 percent accounted for 4.2 percent of the 824 trillion won made by the 23.25 million individual income earners in Asia’s fourth-largest economy.
Some 232,400 people belonging to the top 1 percent of the income bracket earned about 92 trillion won in 2018, or 11.2 percent of the total, with the per capita income reaching 396 million won.

Source: Yonhap News Agency

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