This chapter begins with a summary of the major findings from poverty studies of the past two decades, especially those marking the cut-off poverty line and the incidence of absolute and relative poverty by various measures. A wide variation in the estimated measures considered here is attributed to both the theoretical definitions of estimating poverty and problems in using statistical data. The authors attempt to deal with these problems separately, although they are often interrelated. Rapid economic growth during the past 30 yr in Korea has alleviated poverty to a great extent. Yet there remain many pockets of absolute and relative poverty in Korea, for which comprehensive policy measures need to be adopted. Such neglect represents a research and academic failure as much as the administrative and managerial failure of poverty alleviation efforts.