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S. Korea’s Income Gap Hits Record High in Q4

S. Korea’s Income Gap Hits Record High in Q4

SEJONG, Feb. 21 (Korea Bizwire) — South Korea’s household income inequality hit a record high in the fourth quarter of 2018, government data showed Thursday. An average household earned 4.6 million won (US$4,000) per month in the October-December period, up 3.6 percent from the previous year, according to the data compiled by Statistics Korea. The [...]

S. Korea to Provide More Incentives to Foreign Firms

S. Korea to Provide More Incentives to Foreign Firms

SEJONG, Jan. 29 (Korea Bizwire) — South Korea’s industry ministry said Tuesday it plans to provide more incentives to overseas companies operating in the country and induce them to carry out more foreign direct investment (FDI). The Ministry of Industry, Trade, and Energy, which hosted meetings with officials from foreign companies here, said it is [...]

S. Korea’s Financial Literacy Scores Slightly below OECD Average

S. Korea’s Financial Literacy Scores Slightly below OECD Average

SEOUL, Jan. 28 (Korea Bizwire) — South Koreans’ financial literacy was slightly lower than the average of the Organization for Economic Cooperation and Development (OECD) countries last year, a survey showed Monday.  The financial literacy of South Korean people aged between 18 and 79 came to 62.2 points in 2018, according to the survey by the Bank of Korea [...]