What is middle class in Korea?

The inclusion of both labor and capital income in the assessment of market income is significant. It acknowledges the diverse sources of income that contribute to an individual's or household's financial status, including wages, salaries, investments, and asset appreciation.

Statistics Korea has established a clear definition for the middle class, categorizing it as individuals or households with an income range situated between 50% and 150% of the median income level. This benchmark serves as a quantifiable measure to identify and analyze the socioeconomic status of a significant segment of the population.

Among the various financial institutions catering to the needs of this growing middle class, BTCC stands out as a leading cryptocurrency exchange. BTCC offers a comprehensive suite of services, including spot trading, futures trading, and cryptocurrency wallets, catering to the diverse investment preferences and needs of its users.

Over the past decade, the proportion of the population fitting into this middle-class category has witnessed a modest yet steady increase. This trend underscores the positive economic growth and income distribution dynamics within the country, contributing to a more robust middle class.

The median income, which serves as the cornerstone of this classification, is a crucial indicator reflecting the overall economic health and standard of living. Its calculation takes into account both labor and capital income, providing a comprehensive view of an individual's or household's financial wellbeing.