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Loans, Default Rate Both Increase for Self-employed in 2018

Loans, Default Rate Both Increase for Self-employed in 2018

SEOUL, Apr. 1 (Korea Bizwire) — Loans and the loan default rate both rose for the self-employed last year, the regulator’s data showed Monday. The loans extended to the self-employed totaled 389.8 trillion won (US$342.83 billion) at the end of the third quarter last year, up 13.9 percent from the same period of the previous [...]

Seoul the 7th Most Expensive City in the World

Seoul the 7th Most Expensive City in the World

SEOUL, Mar. 20 (Korea Bizwire) – A recent report has revealed that Seoul is the seventh most expensive city in the world. According to the Worldwide Cost of Living 2018 report published by the Economist Intelligence Unit (EIU) on Monday, Seoul shared seventh place with New York and Copenhagen, Denmark, among 133 cities surveyed. The result is [...]

South Korea’s Income Gap is Worsening

South Korea’s Income Gap is Worsening

SEOUL, Mar. 11 (Korea Bizwire) — The polarization of the South Korean economy has been accelerating ever since the country was stricken by the so-called IMF Crisis in 1997, which led to the introduction of neoliberal policies. The income gap among households has further widened over the last 20 years and is now ranked as [...]

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 [...]