<Anchor> This is a



friendly economic time. Today (12th), I will be with reporter Kim Hye-min. Reporter Kim These days, there is a lot of talk about the Hwacheon Daeyu incident. However, young people, in particular, feel a great sense of loss when they see this incident. There is also this talk.



<Reporter>



Not long ago, a large

poster

like this was posted on the Yonsei University campus. "While someone took 5 billion won, young people died on their first day of work or suffered from economic hardship and died alone."



The allegations that Rep. Kwak Sang-do and the children of former Special Prosecutor Park Young-soo received special favors from Hwacheon Daeyu are on the news every day.



Real estate prices and prices continue to rise, and job opportunities are getting narrower. It's getting harder and harder to have any hope that you'll succeed no matter how hard you try.



In fact, statistics show that the lives of people in their 20s and 30s are hard. Last year, the average wealth of those in their 20s and 30s increased, but the wealth gap, that is, the gap between rich and poor, also widened.



<Anchor>



Reporter Kim, the average wealth has increased, but the wealth gap has widened. It's a little hard to say. Can you please explain and interpret it?



<Reporter>



Assets include not only the money I earned but also debts. So, the increase in average assets in their 20s and 30s could be due to a lot of loans or the so-called 'parent's chance', or there could be several reasons. However, the widening wealth gap can be a serious social problem.



After lining up houses in their 20s and 30s according to the amount of assets they own, the average wealth of households in the bottom 20% was found to be around 24 million won. Compared to a year ago, the increase was only 640,000 won.



On the other hand, the average asset of the top 20% group was 870 million won. This is an increase of 70 million won compared to a year ago. Just by looking at the difference between 640,000 won and 70 million won, you can see the asset gap at a glance.



There is also a 'quintile multiplier' that is often calculated when measuring inequality. It is the average of the top 20% divided by the average of the bottom 20%. As the number increases, inequality becomes more severe.



The wealth quintile ratio of young people was 33 times in 2019. Last year, it increased to 35 times.



<Anchor>



The wealth gap between people in their 20s and 30s is much bigger than I thought, really. Up until now, we've been looking at people in their 20's and 30's together. Then, by dividing by generation in a little more detail, the inequality in their 20s is more serious than in their 30s. There is also this talk.



<Reporter>



When I looked at people in their 20s and 30s, meaningful results came out. First of all, the income gap in their 20s was smaller than in their 30s. The difference between a 20-something earning less and a 20-year-old making a lot of money is not that big.



Yet, curiously, the asset gap was getting wider every year. As shown in the table now, the wealth quintile ratio for households in their 20s was worse last year than in 2019.



Also, the gap between those in their twenties and those in their thirties is even greater. In summary, wealth inequality in their 20s is getting worse and worse, but it is not because of income.



In fact, there are limits to some extent when it comes to getting a loan in your 20s. Those in their twenties, whose assets are rapidly increasing, are highly likely to be 'parent's chance', that is, the inheritance of wealth.



It also means that the younger generation has a different starting line, and the gap is getting wider and wider.



<Anchor>



This gap widens because of the inheritance of wealth. Of course, there are parts of it, but it is not only criticizing them for focusing too much on it, but it also seems that some measures from the government are needed so that those in their 20s who are entering society for the first time do not suffer from too poor conditions.



<Reporter>



While there are young people who start their social life without debt with the help of their parents, on the other hand, there are many young people who have to pay off student loans first.



The amount of arrears accumulated due to failure to repay student loans even after getting a job has tripled in the past three years.



Most of the cases are when young people who were earning a certain income either lost their job or could not pay their student loans due to other living expenses.



I'm glad I got a job anyway.

Many remain unemployed.

As of July of this year, there were 308,000 youth unemployed, and more than one in six young people is unemployed.



A life that seemed ordinary in the past, when starting a job, buying a house, and getting married, has now become a dream come true for many young people.

It is time to think deeply about what policies can bridge the broken ladder of young people.