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…
What constitutes a "middle class" identity in South Korea has been a topic of debate. While the Organisation for Economic Co-operation and Development (OECD) estimates that 52.9% of Korean households fall within the middle-income bracket, this figure alone may not provide a complete picture. Park, a retired health care technical services executive, argues that a more nuanced approach is necessary.
"Income alone cannot capture the essence of the middle class," he asserts. "It's not just about affording basic necessities." Park emphasizes the importance of considering an individual's overall quality of life and their ability to maintain that standard into retirement. For him, true middle-class status is achieved when one can make choices without undue financial risk.
"If you can fulfill all your desires without worrying about money, that's the top tier," he explains. "The middle class lies in the middle – where you can make decisions but still have to weigh the costs." According to Park, if making those choices puts you at financial risk, then you cannot truly be considered part of the 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.
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- Who counts as 'true middle class' in Korea? koreatimes.co.kr
