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Spending 7.53 Million Won Per Capita Last Year

Posted December. 21, 2003 23:01,   


According to last year’s Korean National Statistical Office study, Koreans made an average gross income of 11.92 million won per person and spent 7.53 million won, sixty three percent of their income. Moreover, it also gathered a statistics of divorce rate, which increased significantly due to financial problems of each household.

According to the “2003 Korean Social Index” prepared by Korean National Statistical Office on December 21, the current total population of Korea as of July 1, 2003 was 47,925,000, with an increase of 0.6 percent compared to the same period in 2002. Compared to the growth rate of 1.99 percent in 1970, it decreased approximately 66 percent. The population of those over the age of 65 was 8.3 percent. With the current trend, the ratio of those over 65 is expected to reach 14.4 percent and further to exceed the rate of infancy and childhood population (0~14yrs), which is 14.1 percent.

Yearly income per capita in 2002 was $10,013 (11.92 million won, $1 per 1190.6 won), which increased 11.3 percent over 2001. From total expenses of 7.532 million won, the spending in a service sector amounted to 60 percent of the total expenditures for the first time.

Marriage registrations of 306,000 were reported, and 145,000 divorce notices were reported last year. Financial problems cited as the main reason of divorce increased to a surprising 13.7 percent, a significant increase from 1.9 percent in 1992.

Last year, the work week was 46.2 hours, which was a slight decrease from 47 hours in 2001. The most important matter of concern and interest was health, taking up 44.9 percent of entire study.

In 2001, couples purchased a home 10.8 years after marriage. Prior to their home purchases, the average household moved an average of five times.

In addition, the smoking rate decreased, unlike the drinking rate. The rate of entering a college was reached at 79.7 percent, but the percentage of employment for college graduates was marked only on 59.2 percent.

Ki-Jeong Ko koh@donga.com