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Survey of Household Finances and Living Conditions
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Survey of Household Finances and Living Conditions
| Title | Status and Characteristics of Self-employed Households according to the Survey of Household Finances and Living Conditions (SFLC) in 2012 |
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| Date | 2013-06-21 |
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Ⅰ. Household distribution by characteristics ▣ (Household distribution) As of the end of March 2012, self-employed households occupied 25.7 percent of the total households. Ⅱ. Assets and liabilities of self-employed households ▣ (Assets and liabilities) The net worth (Assets - Liabilities) for self-employed households amounted to 348.98 million won per household, which was 1.2 times higher than that for regular worker households. ▣ (Distribution of net worth) 65.5 percent of self-employed households had net worth of less than 0.3 billion won. 6.8 percent of self-employed households had net worth of 1 billion won or more. ▣ (Share of self-employed households having liabilities) The share of the self-employed having liabilities stood at 72.4 percent, which was lower than that of regular worker households having liabilities (73.6 percent). ▣ (Burden of liabilities) 72.3 percent of self-employed households having financial liabilities said 'Repaying principal and interest is burdensome.' 62.9 percent of regular worker households having financial liabilities said 'Repaying principal and interest is burdensome. Ⅲ. Financial soundness of self-employed households ▣ (Financial soundness) The debt-to-income ratio and debt service ratio of self-employed households recorded 146.1 percent and 23.1 percent, respectively. These ratios were higher than the ratios of regular worker households. Ⅳ. Income and expenditure of self-employed households ▣ (Household income) The household income of self-employed households (50.07 million won) was 0.9 times lower than that of regular worker households (55.25 million won). ▣ (Household expenditure) The household expenditures for self-employed households marked 35.73 million won, which was 0.9 times lower than those for regular worker households. ▣ (Share of the self-employed) The older, the larger share of the self-employed. ▣ (Personal income) In 2012, the average personal income for the self-employed recorded 35.15 million won per person. The average personal income for regular workers recorded 34.88 million won per person. ▣ (Preparation for the old age) 73.1 percent of the self-employed in their forties or more prepared for their old age. This share was lower than regular workers (91.4 percent). ▣ (Poverty rate) The poverty rate of the self-employed recorded 13.1 percent, which was higher than that of regular workers (4.4 percent). As for all characteristics excluding the group aged less than 30, the poverty rate of the self-employed was higher than that of regular workers. Ⅵ. Characteristics of self-employed baby boomers (born in 1955 ~ 1963) ▣ (Financial status of self-employed baby boomers) The net worth for self-employed baby boomers amounted to 411.72 million won per household, which was 1.1 times higher than that for regular worker baby boomers. In the meantime, the household income for self-employed baby boomers amounted to 58.44 million won per household, which was 0.9 times lower than that for regular worker baby boomers. The household expenditures for self-employed baby boomers amounted to 43.61 million won per household, which was 0.9 times lower than those for regular worker baby boomers. ※ For more information, refer to the attached file. |
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| Attached File | |
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