April 20, 2024

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[THE INVESTOR] Korea’s real household income rose in the fourth quarter of last year from a year earlier, a government report showed on Feb. 22.

An average household earned 4.45 million won (US$4,100) per month in the October-December period, up a nominal 3.1 percent from the previous year, according to the report by Statistics Korea.

The inflation-adjusted real income also increased 1.6 percent on-year over the one-year period, the data showed.

The real income has been on a steady decline since the last three months of 2015.

The latest findings showed households’ income earned through wages rose 0.9 percent on-year to an average 2.93 million won over the three-month period, and transferred income, which includes state welfare support, climbed 10.1 percent to 468,000 won.

Profits generated by assets and earnings from business operations rose 9.5 percent and 8.5 percent, respectively, they showed.

The monthly average income of the bottom 10 percent income bracket advanced 10.2 percent on-year, the most in eight years, to 1.5 million won.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)