We investigate the reasons for negative perceptions of inequality despite recent improvements in income distribution. The results show that while household income is becoming more equal, deepening inequality in other economic resources, such as consumption, wages, and assets, contributes to negative perceptions of distribution. Above all, the deepening of asset inequality appears to be a powerful driver of these negative perceptions. Based on these findings, we divide the policy targets into two groups: a low-income/low-asset group and a middle-income group. For the former, we propose several policies with the goal of securing household economic liquidity; for the latter, we suggest policy measures designed to increase opportunities for asset accumulation.