Less than 2 out of 10 people on the rise in the income bracket...only 17.6%

Less than 2 out of 10 South Koreans have increased their income throughout the year, according to the report.

The National Statistical Office reported that income mobility, or the percentage of people whose income quintile as of 2022 was up or down from a year ago, was 34.9%, showing a second year of decline.

It also said 17.6% of the income quintile movers saw their classes rise and 17.4% fell.

When looking at the ratio of maintenance by income quintile in 2022, the 5th quintile, which is the top 20%, was the highest at 86%.

This means that about nine out of 10 people who were in the fifth quartile in 2021 remained in the fifth quartile the following year without a drop in the income bracket.

The ratio of maintaining the income quintile of the first quintile, the lowest 20%, was 69.1%, the second highest after the fifth quintile.

This means that 7 out of 10 poor people remained in the same class the following year without getting out of poverty.

The phenomenon in which the income maintenance ratio of the 5th and 1st deciles is higher than that of the other deciles can be interpreted as having a high probability of income polarization sticking.