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Korean Youth Increasingly Indifferent to Stock Investing

Korean Youth Increasingly Indifferent to Stock Investing

SEOUL, Feb. 21 (Korea Bizwire) – The local stock market is struggling to attract young investors amid prolonged economic hardships, a record high youth unemployment rate, and an increasing number of “house poor” individuals and families.  Besides the fact that the benchmark Korea Composite Stock Price Index (KOSPI) has hovered in the same 1,850 – [...]

Retirement Plans Losing Luster with Dismal Returns

Retirement Plans Losing Luster with Dismal Returns

SEOUL, Feb. 20 (Korea Bizwire) – Retirement plans are losing their credibility with below par rates of return.  According to official data from four official bodies representing institutions offering retirement plans – the Korea Federation of Banks, the Korea Life Insurance Association, the General Insurance Association of Korea, and the Korea Financial Investment Association – [...]

S. Korea Sends Letter of Protest to FT over Report on Currency Manipulators

S. Korea Sends Letter of Protest to FT over Report on Currency Manipulators

SEJONG, Feb. 16 (Korea Bizwire) – The South Korean government has sent a letter of protest to international daily newspaper Financial Times (FT) over its recent news report that Seoul has intentionally devalued its currency, a government official said Thursday.  In the article titled “Donald Trump’s anger at Asian currency manipulators missed target” moved on [...]

1 out of 4 Employees in Financial Sector Earn More Than 100 Mln Won

1 out of 4 Employees in Financial Sector Earn More Than 100 Mln Won

SEOUL, Feb. 15 (Korea Bizwire) – One out of four employees in South Korea’s financial sector earned more than 100 million won (US$87,000) last year, a report showed Wednesday.  The report submitted to the Financial Services Commission by the Korea Institute of Finance said 24.8 percent of employees at 1,389 financial firms earned more than [...]

Young Jobseekers Fret as Youth Unemployment Rate Soars

Young Jobseekers Fret as Youth Unemployment Rate Soars

SEOUL, Feb. 13 (Korea Bizwire) – Korea’s youth unemployment rate is skyrocketing to unprecedented levels, and the unemployment rate for workers between the ages of 15 to 24 has surpassed that of the U.S. for the first time in 16 years. Even amidst the global economic recession, youth unemployment in most advanced countries has partially [...]