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Are you in the middle class? Or lower class?

 
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Real Reality



Joined: 10 Jan 2003
Location: Seoul

PostPosted: Thu Jan 12, 2006 3:22 pm    Post subject: Are you in the middle class? Or lower class? Reply with quote

Hyundai Research Institute, in its 1999 survey, categorized the middle class as comprising people who earned at least 2.5 million won per month, lived in an apartment or home of at least 99 square meters, owned a car, had stable jobs and were university graduates.
http://joongangdaily.joins.com/200601/08/200601082253536809900092309231.html

pyung (��) and square meters
1 Py (Pyung) = 3.3 square meters
An apartment of 29 pyung is equivalent to 96 square meters
http://www.oakwoodpremier.co.kr/eng/ac/ac_0301.php

An apartment of 25.7 pyung is equivalent to 85 square meters
http://www.ired.com/news/2001/0106/chosun.htm
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Pyongshin Sangja



Joined: 20 Apr 2003
Location: I love baby!

PostPosted: Thu Jan 12, 2006 5:25 pm    Post subject: Reply with quote

So, that would be Hyundai putting the middle class at a higher level than average GDP? Some middle.
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periwinkle



Joined: 08 Feb 2003

PostPosted: Thu Jan 12, 2006 8:42 pm    Post subject: Reply with quote

That's a really weird survey. I know plenty of urban single professionals who live in a small apt. and are carless. What class would they be in, then?
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SuperHero



Joined: 10 Dec 2003
Location: Superhero Hideout

PostPosted: Thu Jan 12, 2006 11:52 pm    Post subject: Reply with quote

not counting my wife's income I qualify except that my apartment is only 24pyoung (moving to a 32 pyoung in October). On top of that I get tons more vacation than any middle class Korean gets.
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JongnoGuru



Joined: 25 May 2004
Location: peeing on your doorstep

PostPosted: Fri Jan 13, 2006 12:13 am    Post subject: Reply with quote

First of all, does "people" mean an individual or a family. 2.5 million won/month seems too low for a middle-class "urban family", even in 1999.

periwinkle wrote:
That's a really weird survey. I know plenty of urban single professionals who live in a small apt. and are carless. What class would they be in, then?

I think in that case, you'd have to determine the average monthly expense of a car (purchase price/period of ownership, upkeep, insurance, tax) and an apartment of the size mentioned. Let's say that comes to 700,000 won/mo. So, their monthly income would have to be 3.2 million won (the 2.5 mil. won minimum + the 700k as represented by car & larger apartment). If they don't measure up, they're in the "lowly scum-sucker no-hoper class". Sez Hyundai.
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skconqueror



Joined: 31 Jul 2005

PostPosted: Fri Jan 13, 2006 12:26 am    Post subject: Reply with quote

3.2 isnt really that high.

I guess I will be middle then.
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Cheonmunka



Joined: 04 Jun 2004

PostPosted: Fri Jan 13, 2006 3:03 am    Post subject: Reply with quote

What drives the aspiration? is my question.

I know some alternative lifestylers (hippies) in the West who live by the beach, have great long vacations, consume fresh air, water and bio-products. They have time to attend festivals etc.
They may not go out on any given day and buy a new car, but then neither do I!

I'm middle class. A city dweller.
But, it feels more like a trap.
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Cheonmunka



Joined: 04 Jun 2004

PostPosted: Fri Jan 13, 2006 3:04 am    Post subject: Reply with quote

What drives the aspiration? is my question.

I know some alternative lifestylers (hippies) in the West who live by the beach, have great long vacations, consume fresh air, water and bio-products. They have time to attend festivals etc.
They may not go out on any given day and buy a new car, but then neither do I!

I'm middle class. A city dweller.
But, it could easily feel more like a trap.
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Mr. Pink



Joined: 21 Oct 2003
Location: China

PostPosted: Fri Jan 13, 2006 4:05 am    Post subject: Reply with quote

Considering the prices of apartments in 1999 were really low as the 1997/1998 financial crisis still hadn't recovered, I'd say maybe that isn't a bad survey.

I can qualify all of the things that make one a middle class person according to that survey. However, in Korea was does owning a car prove? You absolutely don't need one if you live in a city and if you did buy a car, there is always Mr. Tico out there vs. someone with a real car Razz
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