The top 1% of earners in South Korea earned at least KRW 661 million ($588,000) in 2019, according to a report by the National Tax Service. The group consists mostly of business owners and high-level professionals in finance, law and medicine, and may also inherit wealth from their families or earn income from investments or real estate holdings. The income gap between the top 1% and the rest of the population is significant, with the top 10% earning around nine times more than the bottom 10%. South Korea ranks high in terms of income inequality among OECD countries. Efforts to address inequality include raising the minimum wage, expanding social welfare programs and increasing taxes on the wealthy.