Who counts as 'true middle class' in Korea?
What counts as being “middle class?” For many, income is the starting — and often the only — point of reference. By the OECD’s measure, 52.9 percent of Korean households fall within the middle-income range. But Park, 60, who spent more than three decades running a health care technical services business, sees the definition as less straightforward. “Looking at income alone can make the middle…
Defining what constitutes the "middle class" in South Korea is a complex matter, with income often serving as the primary gauge. According to the Organisation for Economic Co-operation and Development (OECD), approximately 52.9% of Korean households fall within the middle-income bracket. However, this simplistic view may not fully capture the essence of the middle class.
Park, a 60-year-old who spent over three decades managing a healthcare technical services business, challenges this straightforward perspective. "Income alone can make the middle class appear much broader," he asserts. "I believe a more comprehensive, multidimensional assessment is necessary." Park emphasizes that the definition extends beyond mere ability to meet essential needs.
"Life doesn't end with the basics," he points out. "It's also about standard of living people aspire to maintain and, eventually, their financial security in retirement."
For Park, true middle-class status is more than just having enough to cover basic necessities. "If you can do everything you want without worrying about it, you're at the top," he explains. "If you have to make choices but can do so without significant risk, that's what I consider the middle class. But if those choices put you at risk, then I don't think you can truly call yourself middle class."
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Who counts as 'true middle class' in Korea? koreatimes.co.kr
