South Korean households' disposable income increased in the first quarter at the fastest pace in nearly two years, Statistics Korea reported Friday.
Households' income grew by real 3.8 percent from the prior year, helped by improvement in the labor market. This was the biggest growth since the second quarter of 2010. In the fourth quarter of 2011, the increase in real income was 3.2 percent.
On an unadjusted basis, average monthly income moved up 6.9 percent annually in the first quarter.
Elsewhere, Finance Minister Bahk Jae-wan reportedly said that maintaining price is the only way to sustain steady economic growth. Curbing consumer price growth will help to raise actual income and purchasing power of people, resulting in higher domestic demand.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.