Korea Ranks Near Bottom in Income Inequality Among OECD Members

Korea ranked near the bottom in income inequality among members of the OECD.

Statistics Korea on Thursday reported that the country ranked 30th out of 36 OECD members in terms of the wealth gap between rich and poor, with a lower ranking representing a larger gap. Only Chile, Mexico and the U.S. had a wider gap than Korea.

The report was based on the so-called "Palma ratio," which divides the share of income of the top 10 percent by that of the bottom 40 percent.