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S.Korea ranks 4th in relative poverty among OECD nations
TIWN
S.Korea ranks 4th in relative poverty among OECD nations
PHOTO : TIWN

Seoul, Oct 25 (TIWN) South Korea ranks fourth in relative poverty among major economies in the world, data showed on Monday, in a sign of its high income inequality.

It is the fourth-highest rate among 37 member countries of the Paris-based club of rich nations. South Korea's figure is 5.6 percentage points higher than the OECD average of 11.1 percent.  Costa Rica has the highest relative poverty rate of 20.5 percent, followed by the United States with 17.8 percent and Israel with 16.9 percent.  Comparable figures are 15.7 percent for Japan, 12.4 percent for Britain, 11.6 percent for Canada, 8.5 percent for France and 6.1 percent for Denmark.  Some analysts say South Korea's high relative poverty rate is related to its fast population aging.

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