South Korea: household income changes of millionaires during the pandemic 2020

As of August 2020, 68 percent of people in South Korea owning financial assets of one billion South Korean won or more stated that their monthly household income did not change much during the pandemic, while about 31 percent experienced a decrease in monthly household income during the same period. Only one percent stated that their monthly household income had increased.

Changes in monthly household income of millionaires during the COVID-19 pandemic in South Korea as of August 2020

Characteristic	Share of respondents
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Release date

October 2020

More information

Region

South Korea

Survey time period

July 6 to August 7, 2020

Number of respondents

400 millionaires*

Age group

20 years and older

Method of interview

Face-to-face interview

Supplementary notes

*Millionaires are defined here as individuals who have financial assets of one billion South Korean won or more.

1,000 South Korean won equals 0.83 U.S. dollars or 0.74 euros as of March 2022.

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