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Korea Ranks Near Bottom in Income Inequality Among OECD Members

Korea ranked near the bottom in income inequality among members of the OECD.

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Statistics Korea on Thursday reported that the country ranked 30th out of 36 OECD members in terms of the wealth gap between rich and poor, with a lower ranking representing a larger gap. Only Chile, Mexico and the U.S. had a wider gap than Korea.

The report was based on the so-called "Palma ratio", which divides the share of income of the top 10 percent by that of the bottom 40 percent.

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