General Assembly Second Committee - ECOFIN
Korea, Republic of


Gisella Kontaria

Cite as

Position Paper_GisellaKontaria_ECOFIN_RepublicOfKorea

Republic of Korea on Reducing Economic Inequality and Financing Sustainable Economy

Country: Republic of Korea

Committee: General Assembly Economic and Financial Council (ECOFIN)

Topic Area: Economic Inequality and Financing Sustainable Economy

I. Problem

The extent of income inequality and the trend observable in many countries towards increasingly inequitable income distribution has become a key issue of political and social debates in many places. A small percentage of the population brings home a large share of the nation’s total income resulting in an inevitable economic disparity with the working population. The importance of economic growth as a tool to improve the economic status of the members in a society and as a weapon against poverty has been widely discussed among policymakers. The idea that an improving economy benefits all members in that economy is most famously summarized in the former ...