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South Korea Confronts ‘Dementia Money’ Crisis as Elderly Asset Lock-In Rises

South Korea Confronts ‘Dementia Money’ Crisis as Elderly Asset Lock-In Rises

SEOUL, May 12 (Korea Bizwire) — As South Korea grapples with the financial implications of its aging population, the government has released the nation’s first full-scale survey on so-called “dementia money”—the frozen assets held by elderly citizens with dementia—and experts are urging swift action modeled on Japan’s experience. According to the Presidential Committee on Aging Society [...]

Despite Falling Birthrate, More Young Koreans Say They Still Want to Marry, Survey Finds

Despite Falling Birthrate, More Young Koreans Say They Still Want to Marry, Survey Finds

SEOUL, May 12 (Korea Bizwire) — South Korea’s birthrate continues to decline, but a growing number of unmarried adults now say they still intend to marry—offering a potential, if modest, glimmer of hope in the nation’s battle against population decline. According to a comprehensive 2024 survey released Sunday by the Korea Institute for Health and Social [...]

South Koreans Cut Back on Essentials but Spend Freely on Travel

South Koreans Cut Back on Essentials but Spend Freely on Travel

SEOUL, May 9 (Korea Bizwire) — South Korean consumers reined in spending on everyday items and luxury goods in the first quarter of 2025, while showing a notable willingness to spend on travel-related expenses, according to new data from mobile analytics platform IGAWorks. The firm’s Mobile Index data, based on estimated credit and debit card transactions [...]

South Korea Slips to 20th in Global Human Development Index as Inequality Widens Worldwide

South Korea Slips to 20th in Global Human Development Index as Inequality Widens Worldwide

SEOUL, May 7 (Korea Bizwire) — South Korea has dropped one spot to 20th in the United Nations Development Programme’s (UNDP) latest Human Development Index (HDI) rankings, despite a slight improvement in its overall score, highlighting growing international competition and widening inequality between countries. According to the 2025 Human Development Report released Tuesday by the UNDP, [...]

Online Processed Food Shopping Surges Among Korean Households

Online Processed Food Shopping Surges Among Korean Households

SEOUL, May 6 (Korea Bizwire) — Seven in 10 households made online purchases of processed foods in 2024, a survey showed Tuesday, marking a sharp increase from a year earlier and a significant change in where and how people shop. According to the survey conducted by the Korea Rural Economic Institute, 72.3 percent of households [...]

Elderly Dementia Patients Hold Assets Worth 6.4 pct of GDP: Data

Elderly Dementia Patients Hold Assets Worth 6.4 pct of GDP: Data

SEOUL, May 6 (Korea Bizwire) — Elderly dementia patients in South Korea hold assets worth a combined 153.5 trillion won (US$110.9 billion), which is equivalent to about 6.4 percent of the country’s gross domestic product (GDP), data showed Tuesday. The assets had been owned by 1.24 million dementia patients aged 65 and above as of [...]

Child Mental Health Cases in Korea Double Over Four Years, Sparking Concern Among Experts

Child Mental Health Cases in Korea Double Over Four Years, Sparking Concern Among Experts

SEOUL, May 5 (Korea Bizwire) —  The number of children in South Korea seeking outpatient psychiatric treatment has more than doubled over the past four years, with sharp increases observed particularly among elementary school-aged children, according to newly released government data. Figures from the Health Insurance Review and Assessment Service, submitted to Rep. Jin Sun-mi of [...]

Taller, Leaner, but Still Struggling: What South Korea’s Student Health Report Reveals

Taller, Leaner, but Still Struggling: What South Korea’s Student Health Report Reveals

South Korean High School Freshmen Average 172.9 cm in Height as Student Obesity Declines for Third Year SEOUL, April 30 (Korea Bizwire) — At a glance, the data reads like good news: South Korea’s teens are growing taller, and for the third year in a row, fewer of them are obese. But behind the steady gains [...]

The Vanishing Promise of Equal Pay: South Korea’s Labor Divide Deepens

The Vanishing Promise of Equal Pay: South Korea’s Labor Divide Deepens

As non-regular workers fall further behind in wages, benefits, and protections, a growing segment of the workforce risks being left out of the country’s economic future. SEOUL, April 30 (Korea Bizwire) —  In South Korea’s rapidly changing labor market, a widening wage chasm is sending a sobering message: for non-regular workers, the dream of financial parity [...]

One in Three South Korean Women Have Faced Physical or Sexual Violence, Survey Finds

One in Three South Korean Women Have Faced Physical or Sexual Violence, Survey Finds

SEOUL, April 24 (Korea Bizwire) — One in three South Korean women have experienced physical or sexual violence at least once during their lifetime, a government survey showed Thursday. The gender ministry said the survey conducted in-person on 7,027 female adults nationwide from September to November last year showed that 36.1 percent of women had [...]