SEOUL, Feb. 21 (Xinhua) -- Income disparity in South Korea posted the highest fourth-quarter figure last year as the rich got richer while the poor earned lower income, a government report showed Thursday.
The rate of disposable income for the upper 20 percent of high-income households with at least two family members to earnings for the bottom 20 percent of the income bracket was 5.47 in the October-December quarter, according to Statistics Korea.
It was higher than any fourth-quarter reading since the statistical agency began compiling the data in 2003.
The widening income inequality came as the high-income earners made more money while the low-income bracket earned less.
Disposable income for the upper 20 percent jumped 10.4 percent over the year to 9,324,300 won (8,285 U.S. dollars) in the fourth quarter, marking the biggest quarterly expansion.
Income for the bottom 20 percent tumbled 17.7 percent to 1,238,200 won (1,100 U.S. dollars), the biggest quarterly reduction since the data began to be compiled 16 years ago.
The income disparity continued to widen for the fourth consecutive quarter despite the government's efforts to lift the income of low-income households by sharply raising the minimum wage.
The South Korean government pushed for a so-called income-led growth to increase wages and create decent jobs, which was forecast to boost private consumption and lead to economic recovery.
