This study examines the causes and effects of childhood poverty in Korea using longitudinal data from the Seoul Child Panel Study. In the study, we find that not living with two parents or full-time employed parents are significant risk factors for child poverty in Korea. We also find that poverty is a risk factor lowering children's school achievement, and that family process factors such as family relation and parental monitoring are strongly related to children's internalizing and externalizing problem behaviors. The article concludes by suggesting policy approaches to reduce child poverty and the negative impact of poverty on children's development.

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