Prosperity gap in South Korea
South Korea: Prosperity gap was 0.7 average shortfall from a prosperity standard of $28/day in 2021. ▼ Falling
Prosperity gap in South Korea, 2006–2021
Source: World Bank, Poverty and Inequality Platform. Data are based on primary household survey data obtained from government statistical agencies and World Bank country departments. Data for high-income econ. Measured in average shortfall from a prosperity standard of $28/day.
Analysis
The most recent figure for prosperity gap in South Korea is 0.7 average shortfall from a prosperity standard of $28/day, measured in 2021. That is the lowest value across all 11 years on record.
The figure is down 41.7% over ten years.
Over the whole period, prosperity gap in South Korea peaked at 1.2 average shortfall from a prosperity standard of $28/day in 2006 and was at its lowest, 0.7 average shortfall from a prosperity standard of $28/day, in 2019.
South Korea ranks 108th of 121 countries on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 11 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 1.2 average shortfall from a prosperity standard of $28/day | 1.2 average shortfall from a prosperity standard of $28/day | 1.2 average shortfall from a prosperity standard of $28/day | 2 |
| 2010s | 0.9286 average shortfall from a prosperity standard of $28/day | 0.7 average shortfall from a prosperity standard of $28/day | 1.2 average shortfall from a prosperity standard of $28/day | 7 |
| 2020s | 0.7 average shortfall from a prosperity standard of $28/day | 0.7 average shortfall from a prosperity standard of $28/day | 0.7 average shortfall from a prosperity standard of $28/day | 2 |
Countries ranked near South Korea
- 105 Austria 0.8 average shortfall from a prosperity standard of $28/day compare
- 105 Czechia 0.8 average shortfall from a prosperity standard of $28/day compare
- 105 Denmark 0.8 average shortfall from a prosperity standard of $28/day compare
- 108 Canada 0.7 average shortfall from a prosperity standard of $28/day compare
- 108 Finland 0.7 average shortfall from a prosperity standard of $28/day compare
- 108 Ireland 0.7 average shortfall from a prosperity standard of $28/day compare
- 108 Malta 0.7 average shortfall from a prosperity standard of $28/day compare
More poverty & inequality data for South Korea
- Poverty headcount ratio at $8.30 a day (2021 PPP) 0.5% (2021)
- Poverty headcount ratio at $4.20 a day (2021 PPP) 0.2% (2021)
- Poverty gap at $3.00 a day (2021 PPP) 0.1% (2021)
- Poverty headcount ratio at $3.00 a day (2021 PPP) 0.1% (2021)
- Poverty gap at $8.30 a day (2021 PPP) 0.2% (2021)
- Poverty headcount ratio at societal poverty line 14.2% (2021)
- Poverty gap at $4.20 a day (2021 PPP) 0.1% (2021)
- Population living in slums 4.5% (2022)
- Income share held by second 20% 12.4% (2021)
- Gini index 32.9 (2021)
Frequently asked questions
- What is prosperity gap in South Korea?
- Prosperity gap in South Korea was 0.7 average shortfall from a prosperity standard of $28/day in 2021, according to World Bank, Poverty and Inequality Platform. Data are based on primary household survey data obtained from government statistical agencies and World Bank country departments. Data for high-income econ.
- What is the highest prosperity gap recorded in South Korea?
- The highest recorded value was 1.2 average shortfall from a prosperity standard of $28/day in 2006.
- What is the lowest prosperity gap recorded in South Korea?
- The lowest recorded value was 0.7 average shortfall from a prosperity standard of $28/day in 2019.
- How does South Korea rank for prosperity gap?
- South Korea ranks 108th out of 121 countries with data for 2021.
- Is prosperity gap rising or falling in South Korea?
- Over the last ten years it is down 41.7%. The long-run trend across the full record is falling.
- Where does this South Korea data come from?
- The figures come from World Bank, Poverty and Inequality Platform. Data are based on primary household survey data obtained from government statistical agencies and World Bank country departments. Data for high-income econ, published as part of Prosperity gap (average shortfall from a prosperity standard of $28/day). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 11 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
The average shortfall from a prosperity standard of $28 per day (adjusted for differences in purchasing power parity across countries). It is measured as the average factor by which incomes fall short of $28.