Why Are Korean Millennials More Resentful of Inequality than Their Japanese Peers?

While increasing social inequality and precarity is a common global phenomenon, the ways in which social inequality is felt, perceived, and responded to by young citizens differ from country to country. This paper investigates institutional contexts in which young people in Japan and South Korea make sense of social inequality in different ways: why, despite comparable levels of income inequality, do young Koreans feel more insecure about their financial condition and are more sensitive to social inequality than their Japanese peers? To better understand one central mechanism behind this trend, we look at the pace at which institutions of education, labor, and housing markets have changed in recent decades and how they have shaped both daily experiences and future prospects of individuals. Our analysis suggests that the institutional contexts through which young people experience inequality are as important for social outcomes as the magnitude of inequality.