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National Pension’s Fund Set to be Depleted in 2057 Under Current System

National Pension’s Fund Set to be Depleted in 2057 Under Current System

SEOUL, Aug. 17 (Korea Bizwire) — South Korea’s state pension fund is on course to be depleted in 2057 under the existing system, studies showed Friday, with the pension operator suggesting two major options to keep it running. According to the latest studies conducted by the National Pension Service (NPS), also the country’s top institutional [...]

Lobby Group Pushes for Marijuana Legalization

Lobby Group Pushes for Marijuana Legalization

SEOUL, Aug. 13 (Korea Bizwire) — A non-governmental advocacy group lobbying for the legalization of marijuana for medical use was officially launched yesterday. The Organization of Legalizing Medical Cannabis in Korea held its first general meeting at the An Jung-geun Memorial Hall in Seoul, formally announcing the organization’s establishment. Choi Hyeok-yong, the President of the [...]

Orders of Shade Structures Surge but Supply Falls Behind Demand

Orders of Shade Structures Surge but Supply Falls Behind Demand

BUSAN, Aug. 11 (Korea Bizwire) — With the heat wave still going strong, municipalities have been installing large public shade structures near pedestrian crossings, but with the supply of large shades lacking, many local governments are still waiting for their orders to be fulfilled. According to the city government of Busan, the installation of public [...]

1,191 New HIV/AIDS Cases Reported 2017

1,191 New HIV/AIDS Cases Reported 2017

SEOUL, Aug. 11 (Korea Bizwire) — The number of new cases of Human Immunodeficiency Virus Infection and Acquired Immune Deficiency Syndrome (HIV/AIDS) totaled 1,191 in South Korea in 2017. Approximately 1 out of 3 infected individuals were in their 20s. According to data provided by the Korea Centers for Disease Control and Prevention on the [...]

National Pension Fund Payouts Could Become “Pocket Money”

National Pension Fund Payouts Could Become “Pocket Money”

SEOUL, Aug. 9 (Korea Bizwire) — With worry by the public over the depletion of the national pension fund becoming more widespread, many critics are saying that the monthly subsidies provided to retired senior citizens may become “mere pocket money,” unable to cover the most basic daily expenses in the future. According to the Ministry [...]

More Young S. Koreans Seek Hobbies Following Shortened Work Hours

More Young S. Koreans Seek Hobbies Following Shortened Work Hours

SEOUL, Aug. 7 (Korea Bizwire) — More young South Koreans are heading to department stores to take culture classes as the country pushes to help workers strike a balance between work and their personal lives, data showed Tuesday. According to Hyundai Department Store, 52 percent of people who enrolled for one-day classes at its culture [...]

Sales of Scalp and Hair Products Soar During Heat Wave

Sales of Scalp and Hair Products Soar During Heat Wave

SEOUL, Aug. 6 (Korea Bizwire) – With the intense summer heat continuing to take a toll, sales of hair and hair-loss products have multiplied fivefold with the onset of not only the heat but also high UV rays. The e-commerce website Auction said today that hair-related products including scalp massagers and hair loss treatments grew 498 percent [...]