Coyner’s Comment:
The headline is an euphemism. As one reads through this piece, one can see that many are slipping into the lower class.
Now, what constitutes the ‘lower class’ is a matter of definition and perception. In Britain, anyone earning 40% or less than the national median is considered in the lower class. But much also has to do with the individuals’ perceptions of how well or poorly they are faring.
All of this, in a well connected and educated society such as South Korea, naturally makes for a potentially volatile populace when it comes to politics. Of course, Koreans by their very nature are volatile (when was the last time one met a mellow Korean?) But this factor alone promises making 2012 a particularly interesting electoral year.
Middle class is losing hope of becoming rich
중산층에게서 멀어진 ‘부자의 꿈’
By Kim Young-hoon
Korea JoongAng Daily
Dec 17, 2011
Click here to read article and view graph.
