hankyoreh

By Ahn Seon-hee, Staff Writer
　
Statistics Korea (KOSTAT) data show a trend of increasing income satisfaction among South Koreans with monthly earnings of more than 4 million Won ($3,491). The data also showed that 40 percent of elderly households were in debt in 2009 and that these individuals relied on bank loans rather than their children to make up for the shortfall in living expenses.
These data appeared in the “South Korean Social Trends 2010” report released by the KOSTAT on Thursday. A study of income satisfaction by income level in 2009 showed 45.7 percent of those earning 3 million to 3.99 million Won per month rating their satisfaction as “average,” 38.3 percent as “unsatisfactory,” and 16.0 percent as “satisfactory.”
Beyond this range, however, the ratings of average and unsatisfactory stayed the same or dropped off, while the ratings of satisfactory increased. Satisfactory ratings were given by 20.7 percent of those earning 4 million to 4.99 million Won per month, 29.4 percent of those earning 5 million to 5.99 million Won per month, and 36.8 percent of those earning 6 million Won or more per month.
KOSTAT said, “It could be said that the monthly income range of 3 million to 3.99 million Won marks the boundary point in determining income satisfaction.”
　　
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