This study examines whether polarization has become more serious using 1994-2007 household survey of Korea based on recently developed method for polarization. While the previous studies indicate that income polarization in Korea is reaching a serious level using labor income since 1997 Asian financial crisis, this paper concludes that there is no evidence for increasing polarization of income. This result is robust for empirical analysis using disposable income including that of those who are self-employed. on the contrary, the polarization of consumption expenditure shows the decreasing trend. When households are classified according to the occupation the household head has and the line of business he or she is engaged in, there are no significant differences among them. However, high school graduates and college graduates are quite different, implying the existence of polarization in terms of  education level. In addition, the polarization of education expenditure has deepened since 2001, calling for some policy measures to address this.