Household income rises 4.5% in Q2 on higher wage, transfer income
Shoppers purchase groceries at a supermarket in Seoul, Friday. Yonhap
Korea's average household income rose 4.5 percent from a year earlier in the second quarter of 2026 on increases in wage and transfer income, data showed Thursday.
The average monthly household income came to 5.29 million won ($3,810) in the April-June period, according to data from the Ministry of Data and Statistics.
In a separate report, the finance ministry said inflation-adjusted household income rose 1.5 percent.
Average monthly wage income edged up 0.8 percent from a year earlier to 3.21 million won, with growth limited by fewer wage workers and slowing wage growth.
Average monthly business income came to 977,000 won, up 3.8 percent from a year earlier amid stronger retail sales.
Transfer income jumped 20.4 percent to 931,000 won following the government's cash subsidies to households aimed at easing the burden of high fuel prices.
Property income jumped 21.3 percent to a monthly average of 67,000 won.
Monthly household spending grew 3 percent to 3.99 million won.
Of the total, consumption spending, which refers to household purchases of goods and services, rose 3.4 percent to 2.9 million won, extending gains to 22 consecutive quarters. When adjusted with inflation, however, the growth came to 0.4 percent.
The increase was led by higher spending in the household goods and services and restaurant and hotel categories. By contrast, spending on transportation, alcoholic beverages and tobacco declined.
Non-consumption spending, which includes taxes and insurance premiums, rose 1.9 percent to 1.06 million won on higher interest costs and social insurance payments.
The average monthly income of households in the bottom 20 percent income bracket rose 7.5 percent on-year to 1.28 million won.
Households in the top 20 percent earned an average of 11.1 million won per month, up 3.8 percent from a year earlier. Income rose across all income brackets.
The ratio of the average equivalized disposable income of households in the top 20 percent to that of those in the bottom 20 percent, a key gauge of income inequality, came to 4.97 in the second quarter, down 0.48 from a year earlier.