South Korea lifts median income benchmark 6.7% to record 6.93 million won

The Ministry of Health and Welfare, at the 80th Central Welfare Committee meeting in Seoul, approved a new median income benchmark (기준 중위소득) for the 2027 fiscal year. The figure for a four‑person household rises 6.7% to 6,929,885 won, the highest increase since the benchmark was first set in 2015. The one‑person household benchmark is set at 2,736,042 won, also a 6.7% rise.

The calculation method has been revised to incorporate the latest consumer price index, real GDP growth and other key economic indicators, allowing a more responsive adjustment to inflation and economic conditions. The benefit‑allocation ratios remain unchanged—survival benefit 32%, medical benefit 40%, housing 48% and education 50% of the benchmark. The maximum survival benefit increases by about 5,500 won for a one‑person household and about 140,000 won for a four‑person household. The changes are expected to expand eligibility for the 80 welfare programmes that use the benchmark as a reference point, such as income‑support, childcare, emergency assistance, youth housing and energy vouchers.