ABSTRACT
Compared with other East Asian countries such as Taiwan and Singapore, as well as other developing countries, South Korea is considered to have the lowest level of economic inequality. While there is still controversy over the relationship between the degree of income inequality and economic growth, which was a question raised in other East Asian countries, the low level of economic in equality in Korea is regarded as the key factor to Korea’s economic success (UNDP 1996, 52–53). Korea has been cited as an exemplary case for economic growth with relatively equal distribution.
