Government Data: 3 Million S. Koreans in Poverty in 2015

Write : 2017-07-31 18:42:02 Update : 2017-07-31 18:45:05

Government Data: 3 Million S. Koreans in Poverty in 2015

A new government data shows there were approximately three million “poor” people in South Korea in 2015.  

The Ministry of Health and Welfare said Monday the number of the country’s poverty population as defined by the Organization for Economic Cooperation and Development(OECD) stood at three-million-90-thousand in 2015, down by 270-thousand from a year earlier.

The OECD defines the poverty population as those whose incomes are below half the median household income of the total population.

The ministry said among those living in poverty in 2015, 930-thousand people were ineligible for government assistance because their incomes were slightly above the absolute poverty threshold, and thus ended up in a worse situation than those who received assistance.

In percentage terms the population living in poverty had two to six times more so-called vulnerable households, including single member households and households with elderly or disabled persons.

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