Korea’s wealth gap is leading to social instability, says KDI

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Korea’s wealth gap is leading to social instability, says KDI

Korea’s inability to reduce income inequality is fueling social instability and populism in Asia’s fourth-largest economy, a report by a state-run think tank showed yesterday.

The report by the Korea Development Institute said Asia’s fourth-largest economy had succeeded in reducing the earnings gap up until the early 1990s, but this trend was disrupted by the 1997-98 Asian financial crisis. It claimed that the country has only made limited gains in reducing polarization.

Yonhap

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