2023-09-30 02:44:23
[시사저널e=이상구 기자] The average assets of households in metropolitan areas such as Seoul, Gyeonggi, and Incheon were calculated to be regarding 70% higher than those in non-metropolitan areas.
On the 30th, Kim Hoe-jae, a member of the Democratic Party of Korea, commissioned the National Assembly Research Service to analyze the results of the National Statistical Office’s Household Financial Welfare Survey. As of the end of March last year, the average assets of households in the metropolitan area were 692.46 million won. This is 69.2% more than the average assets of households in non-metropolitan areas of 409.35 million won.
The asset gap between households in the metropolitan area and non-metropolitan areas shows a gradual increasing trend. In 2018, the average assets of households in the metropolitan area (504.65 million won) were 47.5% higher than those in non-metropolitan areas (342.2 million won). Afterwards, the gap gradually widened to 53.6% in 2019, 59.6% in 2020, 65.6% in 2021, and 69.2% last year.
Analysis suggests that the trend of increasing real estate prices centered in the metropolitan area is the main cause of this widening asset gap. The metropolitan area concentration, which is the ratio of the total assets of households in the metropolitan area to the total assets of households nationwide, increased from 57.8% in 2018 to 58.7% in 2019, 60.2% in 2020, 61.2% in 2021, and 61.8% last year. This means that as of last year, households in the metropolitan area held regarding 62% of the nation’s total assets.
However, it is necessary to interpret the figures considering that assets include liabilities and that the Household Financial Welfare Survey is a sample survey of approximately 20,000 households nationwide to understand the level of economic life of households at a microscopic level.
The average ordinary income of households in the metropolitan area (annual in 2021) was 70.22 million won, 20.4% higher than the 58.32 million won in non-metropolitan areas. Ordinary income refers to relatively regular and predictable income, such as earned income. Compared to 22.2% in 2018, 21.3% in 2019, 20.2% in 2020, and 20.8% in 2021, the gap was similar or decreased.
The concentration of total current income in the metropolitan area was 53.1% in 2018, 52.9% in 2019, 53.2% in 2020, 53.5% in 2021, and 53.5% last year. Rep. Kim Hoe-jae said, “As most companies and infrastructure are concentrated in the metropolitan area, the gap in assets and income is widening,” and “Administrative and financial support must be provided to companies that relocate their headquarters to non-metropolitan areas or establish new branches of a similar size to their headquarters.” He emphasized.
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