The Statistics Bureau announced that the release of the Household Financial Welfare Survey results has been postponed due to data errors found on the day of publication.
On the 5th, the Statistics Bureau sent a message to the press stating, “The publication plan for the 2024 Household Financial Welfare Survey press release will be changed due to numeric errors.”
The Household Financial Welfare Survey, an official statistic for income distribution indicators, is conducted to assess financial soundness and understand the economic standard of living and changes, through data on household assets, liabilities, income, and expenditures.
The Statistics Bureau, in collaboration with the Financial Supervisory Service and the Bank of Korea, conducts this survey on a sample of over 20,000 households nationwide.
The Statistics Bureau was scheduled to brief the results of the Household Financial Welfare Survey at 10 a.m. that day, with the report and publication time set at noon.
However, due to errors discovered in the materials distributed to the press before publication, the scheduled briefing and material release were postponed to the 9th.
This is an unprecedented occurrence where errors were discovered just before publication in the annual indicators jointly prepared by the three institutions, leading to a schedule delay.
A Statistics Bureau representative explained, “There was a part that was not checked in the process of linking some data in the non-consumption expenditure section of the distribution indicators,” and added, “We are reviewing everything.”
Reported by Kang Seung-gu in Sejong ([email protected])