MZ Generation Single-Person Household Workers, Average Monthly Income 3.5 Million Won... Likely Ineligible for Subsidies

[Sejong=Asia Economy Reporter Son Seon-hee] Most MZ generation (born 1981-2000) workers living alone are expected to be excluded from the government’s planned National Support Fund.

According to microdata from Statistics Korea on the 12th, the average monthly income in the first quarter of this year for single-person households with a household head aged 40 or younger (born in 1981 or later) who are employed was 3,502,754 KRW. This exceeds the income threshold for the National Support Fund for single-person households.

The government plans to provide 250,000 KRW per person to the "bottom 80% income group," with eligibility determined by health insurance premiums, which are known to correspond roughly to 180% of the median income. The average monthly income corresponding to 180% of the median income is ▲3.29 million KRW for single-person households ▲5.56 million KRW for two-person households ▲7.17 million KRW for three-person households ▲8.78 million KRW for four-person households ▲10.36 million KRW for five-person households ▲11.93 million KRW for six-person households.

In reality, among single-person households, there is a high proportion of low-income elderly living alone or unemployed youth, so those who have jobs mostly fall into the top 20% income bracket and are expected to be excluded from receiving the support.

However, there are concerns that MZ generation single workers, who often lack significant assets such as real estate, may express dissatisfaction if they are unable to receive support solely because their income exceeds the threshold due to employment.