significant change in the size of income inequality during the period 1965–1993.1
In fact, income distribution improved between the mid-1960s and the early 1970s,
although it worsened in the mid-1970s, before steadily improving in the 1980s.
Still, the Gini coefficient calculated by Ahn (1997) (Gini 1 in Table 11.1 and
Figure 11.11) showed that the Republic of Korea’s income distribution deteriorated
in the mid-1970s and again in the late 1980s.2 Thus, it is generally accepted
that the Republic of Korea’s income distribution improved or at least did not
consistently deteriorate up until the early 1990s (Kang 2001).
However, the Republic of Korea’s income inequality has worsened since 1998
when post-crisis structural reforms were implemented. Thus, the country is
becoming more unequal than it used to be and discontent is rising about inequality
(The Economist 2011b).