Four-member household needs W3.06 mil. monthly: survey

A four-member household needs 3,057,972 won a month to lead a normal and middle level of life in Korea, a survey has shown.

The Korean Confederation of Trade Unions (KCTU) and the National Statistical Office (NSO) said Tuesday that they estimated the amount after conducting a survey on 914 KCTU members and looking at data on urban household spending. According to the survey, the standard living cost was calculated at 2,193,807 won for a three-member household and 1,736,680 won for a two-member household.

The standard living cost for a four-member household was 1.6 times as much as the 1,873,100 won announced by the NSO in 1999 and 3.6 times more than the government-set minimum living cost of 842,000 won. The figure also marks an increase of 6 percent from 2,884,266 won reported by KCTU last year.

To better reflect existing realities, the survey assumed that a household with more than three family members possesses a car and that their children attend at least one private institute. It also considered that a three-member household leases an 18-pyong apartment while a four-member household owns a 24-pyong apartment.

However, a KCTU official said that the survey still failed to reflect contemporary realities as savings were not considered and a family was said to eat out once a month and go to a movie twice a year, estimates that were considered too low.

Kim Joon-Seok kjs359@donga.com