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Survey Outline

Overview

Survey Name

  • Survey of Household Finances and Living Conditions

Survey Type

  • Survey Statistics

Type of Statistics

  • Designated Statistics (No. 930001)

Purpose

  • To identify the size, composition and distribution of household assets, liabilities and income, and households' microscopic financial soundness and to use them as basic data for the government's financial and fiscal policies
  • To comprehensively grasp the status of economic and social standard of living, change, duration, change factors, etc. and use them for social and welfare policies and research

Frequency

  • Annual

Target Population

  • General households of one or more members residing in Dong/Eup/Myeon nationwide

Survey Unit and Target Population Size

  • Survey unit: household
    • Include single children who do not live together with their family members due to study or spouses who do not live together with their family members due to a job (close to family units)
    • Households to be excluded
      * Households of non-married children who do not live together with their family members due to study
      * Households of spouses who do not live together with their family members due to a job
      * Households consisting of only household members aged 14 or less
      * Households consisting of only foreigners
      * Households that can't respond due to aging or disability
        (In the meantime, the survey includes family members living in a social institution or family members living in other households without a blood tie.)
      Survey population: 20,268 households (2021)
    • Survey population: 20,000 households (2017)

Survey Reference Period and Date

  • Reference period
    • Household composition, Assets and Liabilities: March 31, 2021
    • Income, Expenditure and Repayment of principal and interest: Jan. 1 ~ Dec. 31, 2020 (for 1 year)

History

  • 2006: Carried out the first survey of Household Wealth on a 5-year basis
  • 2010: Carried out the first Survey of Household Finances
    • A joint survey among Statistics Korea (household assets), the Financial Supervisory Service (household credit) and the Bank of Korea (household panel survey)
  • 2011: Carried out the second Survey of Household Finances
  • 2012: Changed the survey title into the Survey of Household Finances and Living Conditions and carried out the first Survey of Household Finances and Living Conditions
    • The sample was redesigned (finances: 10,000 households / living conditions: 10,000 households) to guarantee cross-sectional and panel analyses after selecting a representative sample of 20,000 households nationwide.
  • 2015: Adopted a rotating panel design
  • 2016: Carried out the fifth Survey of Household Finances and Living Conditions
  • 2017: Carried out the sixth Survey of Household Finances and Living Conditions
  • 2018: The income, the disposable income and the non-consumption expenditures have been compiled by using administrative data in addition to survey data.
  • 2019: Integrated the statistical tables of the finance and welfare sections into a single table
  • 2020: Carried out the ninth Survey of Household Finances and Living Conditions and conducted non-contact surveys in some regions due to COVID-19

Data Provision

Method of Publication and URL

  • Press releases, data loading into KOSIS (https://kosis.kr), online publications

Publication Frequency

  • Annual

Publication Title

  • Report on the 2021 Survey of Household Finances and Living Conditions (will be published in Mar. 2022)
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