Top 0.1 percent earned 64 times more than median income in Korea in 2017, according to the national tax agency report to a lawmaker of ruling Democratic Party.

The total amount of income including earnings from labor, business, financial assets and house rentals of the 0.1 percent wealthiest Koreans numbering 2,482 Koreans averaged 1.47 billion won ($1.242 million) in 2017. Such earnings were 64 times above the median income of Koreans at 23.01 million won.

An average 0.1 percent individual earned 82.3 percent more than the average salary income of 808.7 million won of the highest-paid group.

The median income reached 34.38 million won, hovering below their average labor income of 35.19 million won.

The top 0.1-percent group earned a combined 33.139 trillion won in total income, taking up 4.3 percent of all. This is equivalent to a combined total of 34.884 trillion won earned by the bottom 27-percent.

By Pulse (translation)

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