Statistics Korea Delays Release to December 9 Due to Distribution Indicator Error, Front view of the Government Complex Daejeon, where Statistics Korea is located. / Photo: Government Complex Management Office,
Statistics Korea postponed the release of the Household Finance and Welfare Survey results, which was initially scheduled for the 5th due to an error in the ‘distribution indicator,’ crucial for assessing the degree of polarization. Concerns have arisen about potential governance disruptions amid the fallout from the martial law declaration.
Statistics Korea notified the press on the 5th that they would change the release plan due to numerical errors in the 2024 Household Finance and Welfare Survey materials.
The Household Finance and Welfare Survey, published annually by Statistics Korea, the Bank of Korea, and the Financial Supervisory Service, includes indicators for assessing household financial health and economic status changes, such as assets, liabilities, income, and expenditure. It also covers distribution indicators like the Gini coefficient, the income quintile share ratio (average income of the top 20% divided by that of the bottom 20%), and the relative poverty rate, which reflect the level of economic inequality.
The findings were distributed to the press at 8:30 am, and a briefing was scheduled at 10 am at the Government Complex Sejong, with the official release at noon.
However, after distributing the information to the press, Statistics Korea identified a significant error, delaying the release to the 9th. The preliminary data suggested a slight decline in distribution indicators. An official noted that the error requires more than simple typographical corrections and may necessitate a complete data recalculation.
The joint annual publication error from the three institutions and its delay on the release day is unprecedented. The Ministry of Economy and Finance and other government departments that had received the findings were visibly unsettled, especially as this undermines public trust amid governmental turmoil. A Statistics Korea representative stated that they aim to correct the error swiftly and present the results promptly.