Koreans have a high level of happiness, with an average of 73.68 points out of 100.
Women (74.51 points) were happier than men (72.96 points). In terms of their employment status, there was no statistically significant difference in women, but employed men showed 2.90 points higher happiness than the unemployed men.
As a factor affecting the happiness of Koreans, the self-perceived ‘subjective economic status’ had the most significant impact, followed by the real ‘household income’ and ‘personal income.’
It is crucial to create a social culture that promotes rational consumption so that people at similar income levels can feel more happy and relaxed. Also, price stability is needed to improve real income. Furthermore, because household income has a greater effect on personal happiness than personal income, welfare policies should be enhanced to guarantee an adequate income on a household basis.