Only 24.6% of South Korean households qualify as true middle class under a measure combining income, consumption, savings and at least two of three additional tests covering assets, debt and retirement readiness. Income alone placed 52.9% of households and 58.6% of the population in the middle class, defined as annual disposable income of 28.08 million won to 74.88 million won, or 75% to 200% of median equivalized disposable income of 37.44 million won. The findings come from the 133rd edition of the THE100 Report, titled "Korea's True Middle Class: 25%," published by NH Investment & Securities' 100-Year Life Institute; the publication date is reported as both the 16th and Sept. 17. Among households meeting the broader definition, median annual disposable income was 75.72 million won, annual consumption was 38.22 million won, median net assets were 417.05 million won and financial assets totaled 112.30 million won. Some 72.5% owned their homes. The report, written by research fellow Kim Jin-woong using microdata from the 2025 Survey of Household Finances and Living Conditions, found that income, consumption and savings alone do not establish financial stability or future preparedness.