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About 1 in 20 Young Seoul Residents Live in Social Isolation Due Mainly to Unemployment

About 1 in 20 Young Seoul Residents Live in Social Isolation Due Mainly to Unemployment

SEOUL, Jan. 18 (Korea Bizwire) — About 1 in 20 young people in Seoul live in isolation or seclusion from society due mainly to difficulties in finding a job or mental problems, a survey by the city government showed Wednesday. An estimated 4.5 percent, or about 129,000, of Seoul residents aged between 19-39 were surveyed [...]

Number of Foreigners Filing Taxes in S. Korea Down for 2021 Income amid Pandemic

Number of Foreigners Filing Taxes in S. Korea Down for 2021 Income amid Pandemic

SEOUL, Jan. 18 (Korea Bizwire) — The number of foreign workers filing taxes in South Korea for 2021 income fell 7.3 percent from a year earlier, data showed Wednesday, amid the restricted travel following the COVID-19 pandemic. A total of 505,000 foreign workers filed a year-end tax settlement for their 2021 income, down from 545,000 [...]

Top Firms Invest Big in Environment, Safety Areas in 2022

Top Firms Invest Big in Environment, Safety Areas in 2022

SEOUL, Jan. 18 (Korea Bizwire) — Major South Korean companies spent more than 5 trillion won (US$4.04 billion) in 2022 to help cut air pollution and promote workplace safety as part of their so-called environment, social and governance (ESG) management, a report said Wednesday. The country’s top 100 firms by sales invested 5.44 trillion won [...]

U.S. Beef Takes Up Over Half of S. Korea’s Total Imports in 2022

U.S. Beef Takes Up Over Half of S. Korea’s Total Imports in 2022

SEOUL, Jan. 17 (Korea Bizwire) — U.S. beef accounted for more than 50 percent of South Korea’s total imports of the meat in 2022, taking up the top spot for six years, industry data showed Tuesday. Asia’s fourth-largest economy imported 256,910 tons of American beef last year, or 54.1 percent of its total beef imports [...]

S. Korea’s Exports of K-pop Albums Hit Record High of US$233 mln in 2022

S. Korea’s Exports of K-pop Albums Hit Record High of US$233 mln in 2022

SEOUL, Jan. 16 (Korea Bizwire) — South Korea’s exports of K-pop albums hit a fresh high last year, data showed Monday, as limitations caused by the COVID-19 pandemic continued to push up demand for physical albums. K-pop album exports hit US$233.113 million in 2022, up 5.6 percent from a year ago, according to import and [...]

Proportion of Self-employed Hits All-time Low in 2022 amid Pandemic

Proportion of Self-employed Hits All-time Low in 2022 amid Pandemic

SEOUL, Jan. 16 (Korea Bizwire) — The proportion of self-employed people in South Korea touched a record low in 2022 in the wake of the prolonged coronavirus pandemic, data showed Monday. Asia’s fourth-largest economy had 5.63 million self-employed people as of end-December, accounting for 20.1 percent of the 28.09 million employed in the country, according [...]

S. Korean Population Falls for 3rd Consecutive Year in 2022

S. Korean Population Falls for 3rd Consecutive Year in 2022

SEOUL, Jan. 15 (Korea Bizwire) — South Korea’s population shrank last year, continuing its downward trend for three years in a row, with the number of single-person households close to 10 million, government data showed Sunday. The Ministry of Interior and Safety said the country’s registered population stood at 51,439,038 as of Dec. 31 of [...]

S. Korea’s ICT Exports Hit Record High of US$233 bln in 2022

S. Korea’s ICT Exports Hit Record High of US$233 bln in 2022

SEOUL, Jan. 12 (Korea Bizwire) — South Korea’s exports of information and communication technology (ICT) products hit a fresh high last year on strong overseas demand for chips and mobile phones, data showed Thursday. Outbound shipments of ICT products rose 2.5 percent on-year to US$233.3 billion for 2022, outnumbering the previous high of $227.6 billion [...]

Banks’ Household Loans Slip for 1st Time in 18 yrs in 2022

Banks’ Household Loans Slip for 1st Time in 18 yrs in 2022

SEOUL, Jan. 12 (Korea Bizwire) — Household loans extended by banks in South Korea declined for the first time in 18 years last year, due mainly to higher borrowing costs, the central bank’s data showed Thursday. Banks’ outstanding household loans decreased by 2.6 trillion won (US$2.09 billion) to 1,058.1 trillion won, according to the data [...]