South Korea’s household income grew for the second successive quarter due to a sharp increase in public transfer income, statistical office data showed Thursday.
On a nominal basis, the monthly average income per household with one or more family members rose 3.9 percent over the year to 5,024,000 won (3,770 U.S. dollars) in the October-December quarter 2023, according to Statistics Korea.
It continued to expand for the second straight quarter after sliding 0.8 percent in the second quarter of 2023.
The real household income, adjusted for inflation, added 0.5 percent in the fourth quarter after climbing 0.2 percent in the previous quarter.—Xinhua
