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Lack of Economic Optimism in South Korean Millennials

Lack of Economic Optimism in South Korean Millennials

SEOUL, Feb. 6 (Korea Bizwire) – The Deloitte Millennial Survey 2017 revealed that South Korean youth are losing hope in their very own economy, ranking fairly low among surveyed countries. The survey was based on 8,000 millennials from 30 countries born after 1982, with permanent jobs and at least a bachelor’s degree. It is the [...]

Amid Economic Slump, “Cost-Effectiveness” Becomes Key Term for Consumption

Amid Economic Slump, “Cost-Effectiveness” Becomes Key Term for Consumption

SEOUL, Feb. 2 (Korea Bizwire) – Amid a prolonged economic downturn, practicality, or cost-effectiveness, has become the key element of consideration when purchasing a new product. In other words, more people are choosing budget-friendly products with the best performance.  Daiso, a discount store franchise similar to American dollar stores, is among the companies benefiting from [...]

S. Korea’s Economic Growth Decelerates in Q4: BOK

S. Korea’s Economic Growth Decelerates in Q4: BOK

SEOUL, Jan. 25 (Korea Bizwire) – South Korea’s economy grew at a slower pace in the fourth quarter than three months earlier on decreased demand and construction investments, central bank data showed Wednesday.  In the October-December period, the country’s gross domestic product rose 0.4 percent from the previous quarter, decelerating from a 0.6 percent on-quarter [...]

S. Korea’s Top 100 Firms Cut Jobs amid Economic Slump

S. Korea’s Top 100 Firms Cut Jobs amid Economic Slump

SEOUL, Jan. 16 (Korea Bizwire) – South Korea’s top 100 large-cap companies have cut more than 7,000 jobs in 2016, data showed Monday, as they are reluctant to hire new employees amid the economy’s prolonged sluggishness.  According to the data by market tracker Chaebul.com, the leading companies had a combined 861,578 employees as of the [...]

Even Wealthy Families Tighten Purse Strings amid Economic Slump

Even Wealthy Families Tighten Purse Strings amid Economic Slump

SEOUL, Jan. 11 (Korea Bizwire) – South Koreans, both poor and rich, are tightening their belts with no economic recovery in sight and the prices of goods ascending, data showed Wednesday.  The spending-to-income ratio of local households hit a record low despite stagnant wage levels.  Department stores and duty-free shops, two routine shopping spots for [...]