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Inequality of the Household Income and Wealth in Korea : Research Outcome and Agenda
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한국 사회 가구 소득과 자산의 불평등 : 연구 성과와 과제

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Type
Academic journal
Author
Sungkyun Lee (울산대학교) Heeju Shin (가톨릭대학교) ChangHwan Kim (University of Kansas)
Journal
Korean Critical Sociological Association ECONOMY AND SOCIETY WN.127 KCI Excellent Accredited Journal
Published
2020.9
Pages
60 - 94 (35page)
DOI
10.18207/criso.2020..127.60

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Inequality of the Household Income and Wealth in Korea : Research Outcome and Agenda
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This paper reviews the previous studies on income and wealth inequality in Korea and provides new findings by analyzing the 2012~2019 Survey of Household Finances and Living Conditions. The household income inequality, which started to rise in the first half of the 1990s, kept rising until 2009 from which it has been subdued. Our decomposition analyses uncover that the largest source of household income inequality is labor income. We also show that, while the extent to which labor income affects inequality is stable during the 2010s, the amount of contribution of business income has decreased and that of transfer income has increased. As for wealth, the largest contribution to inequality is the real estate, and the contribution of the non-living asset is particularly large. The growing market value of the real estate asset during the late 2010s has led to the widened wealth gap between the top- and bottom-decile households, resulting in the overall rise in wealth inequality. The correlation analyses between wealth and various income sources confirm that household income is strongly associated with wealth. The real estate asset has a significant implication on the income of the rich and old-age groups. Contrary to this, labor and business incomes instead of property income are more closely associated with wealth among the poor and the younger generations. In conclusion, we emphasize the necessity of the utilization of high-quality data such as the administrative data and the panel data to extend the studies of inequality in the future.
#소득불평등 #자산불평등 #지니계수 분해 #소득-자산 상관성 #income inequality #wealth inequality #Gini coefficient decomposition #income and wealth correlation

Contents

1. 서론
2. 소득불평등의 변화와 현실
3. 자산불평등의 변화와 현실
4. 자산과 소득의 상관성
5. 결론: 연구 결과 요약 및 새로운 자료의 필요성
참고문헌
Abstract

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