SEOUL, June 23 (Korea Bizwire) — South Koreans in their 30s to 60s scored an average of 69.9 out of 100 in overall retirement preparedness, reflecting modest improvement over the past five years but revealing persistent disparities across income levels, marital status, and geographic regions. According to a new government-commissioned report released by the Korea [...]
SEOUL, June 23 (Korea Bizwire) — The share of South Korean households burdened by catastrophic medical expenses—those that exceed 40 percent of a household’s ability to pay—rose for the second consecutive year, according to new government data, highlighting widening healthcare inequality despite improvements in overall access to treatment. A joint report released Saturday by the Korea [...]
SEOUL, June 20 (Korea Bizwire) — Seoul’s subway system has faced a deluge of temperature-related complaints in recent months, with over 283,000 grievances filed from January through May, according to Seoul Metro. The figure accounts for 75.5% of all customer service issues reported during the five-month period. As temperatures rose in May, so did commuter frustration, [...]
SEOUL, June 19 (Korea Bizwire) — Contrary to persistent public concerns that foreign nationals are draining South Korea’s national health insurance system, new data reveal a dramatically different reality: foreign enrollees have delivered a growing budget surplus for eight consecutive years, reaching an all-time high in 2024. According to figures released Wednesday by the National [...]
SEOUL, June 18 (Korea Bizwire) — Foreign visitors to South Korea ranked punctuality as the most satisfying aspect of the country’s railway services, according to a new customer satisfaction survey released by national rail operator KORAIL. The survey, conducted on May 18–19, polled 301 foreign tourists at major transportation hubs including Seoul Station, Busan Station, [...]
SEOUL, June 17 (Korea Bizwire) — The Bank of Korea’s issuance of 10-won coins hit an all-time monthly low in May, underscoring the accelerating decline of physical currency in a society increasingly reliant on digital payments. According to data released Tuesday from the central bank’s Economic Statistics System, just 17 million won worth of 10-won [...]
SEOUL, June 16 (Korea Bizwire) — Nearly half of caregivers for people with developmental disabilities in South Korea are providing care alone, often without any backup support in emergencies, according to a nationwide study released Sunday. The survey, commissioned by the Ministry of Health and Welfare and conducted by the Korea Institute for Health and Social [...]
SEOUL, June 15 (Korea Bizwire) — South Korea’s household debts stood at nearly 1.7 times their disposable income, data showed Sunday, with the pressure for loan repayment driving down consumer spending, potentially triggering an economic recession. The debt-to-income ratio for South Korean households and nonprofit organizations came to 174.7 percent as of end-2024, according to [...]
SEOUL, June 12 (Korea Bizwire) — South Korea’s tobacco market is undergoing a seismic shift, with traditional cigarettes giving way to e-cigarettes and flavored tobacco products that promise less smoke and odor — but are raising fresh public health concerns. A government-commissioned report released Thursday by the Korean Society for Smoking Cessation, titled “2024 In-Depth [...]
SEOUL, June 10 (Korea Bizwire) — South Korean consumers ranked the dawn delivery market as the most consumer-friendly, while wedding services received the lowest score in a nationwide survey released Tuesday by the Korea Consumer Agency. The findings are part of the agency’s “2024 Consumer Market Evaluation Index,” which assesses how consumer-oriented various markets are [...]