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Korea (12.3%) accounted for the same proportion as Costa Rica, with only Chile (11.7%) and Mexico (7.4%) having a lower proportion than Korea. [36] The average public social welfare expenditure to GDP in 38 countries where the ratio of public social welfare expenditure to GDP was identified was 20.1%, and Korea spent 61.2% of the OECD average. [38]
Between 1990 and 2007, South Korean government welfare expenditure increased at a rate of 11% per year in real terms, the fastest rate of increase in the OECD area. [ 4 ] [ 3 ] Social expenditure between 1990 and 2001 rose from 4.25% to 8.7%, peaking at 10.9% in 1998.
The poverty rate of elderly people in South Korea is the highest among the OECD countries Poverty rate in South Korea (age 65+) in 2011. Choo, Park and Yoon noted that both absolute and relative poverty have declined in Korea from 1965 to 1990. [1]
These tables are lists of social welfare spending as a percentage of GDP compiled by Organisation for Economic Co-operation and Development ("OECD") into the OECD Social Expenditure Database which "includes reliable and internationally comparable statistics on public and mandatory and voluntary private social expenditure at programme level." [1]
A 2018 Korea University degree paper conducted a study on how social welfare policies improve economic inequality. The income of the top 10% was about 6.6 times the income of the lowest 10% in 1990. As of 2016 this has increased to about 10 times.
South Korea introduced its Basic Old-Age Pension in 2008 as part of its pension system.According to the Ministry of Health, Welfare and Family Affairs, the Basic Old-Age Pension is "designed to enhance welfare of the elderly by providing a monthly pension payment to the elderly in need."
Adoption in South Korea, specifically the low rates of domestic adoption in their history, has been a point of discussion for the country, causing new policies to be passed over the years. South Korea, at the conclusion of the Korean War in 1953, began to partake in transnational adoption.
Adoption from South Korea began in 1955 when Bertha and Harry Holt went to Korea and adopted eight war orphans after passing a law through Congress. [6] Their work resulted in the founding of Holt International Children's Services. The first Korean babies sent to Europe went to Sweden via the Social Welfare Society in the mid-1960s.