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Turnover Rate of Deposits Nears 32-year Low

Turnover Rate of Deposits Nears 32-year Low

SEOUL, Nov. 15 (Korea Bizwire) — The turnover rate of deposits in South Korea hit a near 32-year low in September, central bank data showed Thursday, indicating that money circulation is clogged in Asia’s fourth-largest economy. The turnover rate of demand deposits came to 16.4 times for September, the lowest since January 1987, when the [...]

Complaints About Imported Vehicles on the Rise

Complaints About Imported Vehicles on the Rise

SEOUL, Nov. 14 (Korea Bizwire) — More complaints are being registered as an increasing number of South Korean drivers are opting for imported cars. The Korea Consumer Agency (KCA) said on Tuesday that a total of 1,410 complaints involving imported vehicles have been lodged over the past five years. A total of 2,945 complaints regarding [...]

1 in 3 Seoulites Feel They Are “Extremely Isolated”

1 in 3 Seoulites Feel They Are “Extremely Isolated”

SEOUL, Nov. 13 (Korea Bizwire) — A new survey has found that 1 out of 3 Seoulites perceive themselves as living in extreme isolation from society. According to an online survey conducted by the Seoul Metropolitan Government between October 1 and 15, 28.8 percent of 1,000 Seoul residents (288 individuals) between the ages of 20 [...]

S. Korea’s Factory Utilization Rate Falls to Lowest Level Since Asian Financial Crisis

S. Korea’s Factory Utilization Rate Falls to Lowest Level Since Asian Financial Crisis

SEOUL, Nov. 11 (Korea Bizwire) — South Korea’s factory utilization rate has fallen to the lowest level since the Asian financial crisis fueling concerns that the economy is showing signs of slowing down, observers said Sunday. Data by Statistics Korea showed the average capacity utilization ratio of factories standing at 72.8 percent in the January-September [...]

Victims of Accidents and Mishaps Feel Most “Pent-Up Anger” in Korean Society

Victims of Accidents and Mishaps Feel Most “Pent-Up Anger” in Korean Society

SEOUL, Nov. 8 (Korea Bizwire) — Victims of various accidents and mishaps had the most “pent-up anger” according to an analysis of newspapers articles dating back to the 1990s. The Center for Happiness Studies at Seoul National University processed the headlines of seven major newspapers published between 1990 and 2018 and found that 55 newspaper [...]

Garosu-gil Transforming into New Mecca for Millennials and Gen Zers

Garosu-gil Transforming into New Mecca for Millennials and Gen Zers

SEOUL, Nov. 6 (Korea Bizwire) — Garosu-gil, a short stretch of road that was once a gathering place for fashionistas, is now attracting a younger crowd including millennials and Generation Zers (Gen Z for short) who are out to seek new fads. Millennials make up the population who were born between the early 1980s and [...]

S. Korea’s Industrial Output for September Posts Sharpest Drop in 19 Months

S. Korea’s Industrial Output for September Posts Sharpest Drop in 19 Months

SEJONG, Oct. 31 (Korea Bizwire) — South Korea’s industrial output for September posted its biggest drop in 19 months due to a fall in auto and electronic parts production, government data showed Wednesday, raising concerns that the economy is on the brink of a slowdown. Production in the mining, manufacturing, gas and electricity industries backtracked [...]