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Health Care Costs for Insured Foreigners Double over 5 years

Health Care Costs for Insured Foreigners Double over 5 years

SEOUL, Sept. 15 (Korea Bizwire) — Health care costs for foreigners covered by South Korea’s state health insurance have more than doubled over the past five years as more subscribe to the scheme, data showed Friday. The total medical cost for covered foreigners came to 553 billion won (US$487 million) last year, up 109 percent [...]

Young People’s Auto Purchase Dips on Budget, Car Sharing: Data

Young People’s Auto Purchase Dips on Budget, Car Sharing: Data

SEOUL, Sept. 14 (Korea Bizwire) — Young people in their 20s and 30s here have been buying fewer cars in recent years as they have difficulty finding jobs and car-sharing services here are more appealing to them, industry data showed Thursday. Those in their 30s bought a total of 144,360 vehicles in the first six [...]

Over 20 pct of Lavish Foreign Tourists Come from Mideast: Poll

Over 20 pct of Lavish Foreign Tourists Come from Mideast: Poll

SEOUL, Sept. 14 (Korea Bizwire) — Middle Eastern tourists accounted for more than 20 percent of big-spending foreign visitors to South Korea last year with their per-capita spending reaching over US$16,000, a poll showed Thursday. The survey on the top 1 percent high-spending foreign tourists, taken by the Korea Culture & Tourism Institute, showed that [...]

Foreigners Sell US$3.25 bln of S. Korean Stocks and Bonds in Aug.

Foreigners Sell US$3.25 bln of S. Korean Stocks and Bonds in Aug.

SEOUL, Sept. 13 (Korea Bizwire) — Foreign investors offloaded South Korean stocks and bonds worth US$3.25 billion in August due to security jitters and profit-taking, the central bank said Wednesday. Foreign investors sold local stocks and bonds worth $1.33 billion and $1.91 billion, respectively, the Bank of Korea (BOK) said. It marked the first sell-off [...]

S. Korea’s Cosmetics Exports to ASEAN Jump 31.6 pct in 2016

S. Korea’s Cosmetics Exports to ASEAN Jump 31.6 pct in 2016

SEOUL, Sept. 13 (Korea Bizwire) — Exports of South Korean beauty products to Southeast Asian countries soared 31.6 percent last year, amid surging demand for skin care and makeup items, a report showed Wednesday. The outbound shipments of Korean cosmetics products to the 10-member Association of Southeast Asian Nations (ASEAN) reached US$406 million in 2016, [...]

South Korea 32nd out of 35 OECD Countries on Family Spending

South Korea 32nd out of 35 OECD Countries on Family Spending

SEOUL, Sept. 11 (Yonhap) — South Korea was one of the smallest investors in families among member states of the Organization for Economic Cooperation and Development (OECD) in 2013, a report showed Monday. The country allocated 1.13 percent of its gross domestic product (GDP) to family benefits spending, and therefore ranks 32nd among 35 OECD [...]

South Korean GDP to Decline by 2050

South Korean GDP to Decline by 2050

SEOUL, Sept. 11 (Korea Bizwire) – According to Simon Baptist, Chief Economist at the Economist Intelligence Unit, by 2050, South Korea, Canada and Italy may find themselves firmly entrenched outside the global GDP top-10 list. Baptist attributes this change partly to the projected rise of India, with its growing population and migration to urban areas [...]

9 in 10 South Koreans Want Stricter Punishment for Heinous Teen Crimes

9 in 10 South Koreans Want Stricter Punishment for Heinous Teen Crimes

SEOUL, Sept. 11 (Korea Bizwire) – Amid a growing number of juvenile crimes in the country, a new poll has revealed that 9 in 10 South Koreans back legal reforms to introduce stricter punishment for teenage criminals. According to a poll conducted by Realmeter with a sample of 514 adults released on Friday, nearly 65 percent [...]