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Biz News Korea(Eng)
Income of 40-something householders drops for the first time in Korea
- Collected
- 2016.11.28
- Distributed
- 2016.11.29
- Source
- Go Direct
According to Statistics Korea Sunday, the average monthly salary of householders aged between 40 and 49 in the three months ended September stood at 5,052,153 won ($4,291), down 1,569 won compared to the same period a year earlier.
The income of 40-something household heads has been growing at a steady pace until the end of the second quarter last year, as it was up 5 percent on year. However, the growth rate slowed to 1.63 percent in the fourth quarter last year, down to 0.2 percent in the second quarter ended June this year, and below 0 in the third quarter.
The cut in the income is largely attributable to lower income of self-employed individuals that dropped 62,000 won on year. Monthly property income also hit a record low of 5,759 won in a record-long low interest rate environment. On the other hand, income for regular salary-earners, which make up the largest portion of the entire income, rose 2.9 percent on year to 3.65 million won.
By Kim Gyu-sik
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]