SEOUL, Jun. 23 (Korea Bizwire) — The National Pension Service’s low interest loan packages dubbed “Silver Loans” are a big hit among its target demographic of pensioners who are 60 and above. Launched in May of 2012, the Silver Loan (officially titled “Rapid Loans for the Elderly Program”) initiative is still going strong with numerous [...]
SEOUL, Jun. 22 (Korea Bizwire) — Dongguk University is finding itself at the center of attention for all the wrong reasons. On the June 21, handwritten posters listing a string of misogynistic and homophobic slurs popped up throughout the campus. Disquieting in and of itself, the situation becomes even more controversial when considering the source. [...]
SEOUL, Jun. 22 (Korea Bizwire) — According to the Bank of Korea’s latest report submitted to the National Assembly, overall levels of household debt are on the rise. The report concludes that the two major factors responsible are excessive real estate investment and the aging population. Almost two thirds of the average Korean’s financial portfolio [...]
SEOUL, June 21 (Korea Bizwire) – Amidst concerns that an increasingly aging population coupled with low birth rates will cause a population crisis, current data indicates that the Busan Metropolitan Area is the South Korean region most likely to be harmed by the demographic changes. On June 20, the Korea Research Institute for Local [...]
SEOUL, June. 21 (Korea Bizwire) — With the advent of technology, South Korean shopping channels as we know them are in for a dramatic makeover. The massive conglomerates behind many of these channels are increasingly tapping comedians and internet stars to be the face of their sales broadcasts through digital platforms. One industry powerhouse leading the [...]
SEOUL, June 16 (Korea Bizwire) – A public statement from Gyeonggi Province’s Department of Education indicating that foreign language and private high schools will be gradually phased out has touched off a firestorm of controversy in education circles. While the schools under threat of future dissolution argue that the government’s decision is a singular dismissal of [...]
SEOUL, Feb. 10 (Korea Bizwire) – Reading the morning paper on the bus or subway may soon become a thing of the past. A study by the Korea Information Strategy Development Institute revealed that 86.3 percent of the survey participants used cell phones on public transportation as their favorite go-to medium for killing time – which [...]
SEOUL, Feb. 10 (Korea Bizwire) – Reading the morning paper on the bus or subway may soon become a thing of the past. A study by the Korea Information Strategy Development Institute revealed that 86.3 percent of the survey participants used cell phones on public transportation as their favorite go-to medium for killing time – which [...]
SEOUL, Nov. 29 (Korea Bizwire) – “Make yourself at home”. It is not a catchphrase from a private enterprise, but the motto of the Chungnam Provincial Government. The provincial administration has adopted a ‘Thinking Day’ policy that allows employees to be absent from work between 1 p.m. and 6 p.m. every Wednesday, an initiative that began [...]
SEOUL, Nov. 28 (Korea Bizwire) – Income among households in their 40s decreased in the third quarter of 2016, the first time that earnings in this demographic have dropped since figures were first tabulated in 2003. The drop in income is indicative of the accelerating Korean economic crisis, as those in their 40s are usually [...]