SEOUL, Oct. 10 (Korea Bizwire) — The proportion of children using national and public kindergartens and childcare centers is expected to hover below 40 percent, short of the government’s target, official data showed Wednesday. President Moon Jae-in earlier set a goal to expand government support for parents with young children, vowing to more than triple [...]
SEJONG, Oct. 8 (Korea Bizwire) — The value of unpaid household work, such as meal preparation and child care, was estimated at 361 trillion won (US$319 billion) in 2014, state data showed Monday. The 2014 figure was up 90.1 trillion won, or 33 percent, from five years earlier, according to the data released by Statistics [...]
SEOUL, Oct. 8 (Korea Bizwire) — As a flood of theme parks and gaming centers featuring virtual reality (VR) content have been attracting customers, a new survey highlighting the interest in VR content by the mass public was published yesterday. According to the market research firm Embrain, 81.3 percent of 1,000 adult respondents between the [...]
SEJONG, Oct. 7 (Korea Bizwire) – The number of South Korean employees in their 30s and 40s suffered the biggest fall since 2009, government data showed Sunday, in the latest sign of sluggish employment amid an economic slowdown. The data compiled by Statistics Korea showed that the average number of employed people in their 30s [...]
SEOUL, Oct. 5 (Korea Bizwire) — Due to the increase in the aging population and decrease of a productive workforce, local insurance companies are expected to go through “degrowth.” According to the Korea Insurance Research Institute (KIRI), the insurance premiums of insurance companies are expected to fall 1.7 percent per year by 2022 compared to [...]
SEOUL, Oct. 4 (Korea Bizwire) — Real estate accounted for more than half of South Korean households’ total assets, with the rate of homes owned for investments far higher compared to major economies, a report showed Thursday. It is based upon an analysis of features of household assets in five nations — South Korea, the [...]
SEOUL, Oct. 2 (Korea Bizwire) – Excess funds held by South Korean households fell in the second quarter of this year from a quarter earlier on increased purchases of new houses amid a property boom, central bank data showed Tuesday. Net financial funds, covering assets minus liabilities, controlled by households and nonprofit organizations totaled 11 trillion won [...]
SEOUL, Sept. 27 (Korea Bizwire) — The number of Koreans who succumbed to cancer last year was found to be a record high, but compared to other advanced nations, the mortality rate from cancer remained low. Meanwhile, the mortality rate of South Koreans, in general, was low among other leading nations, but deaths from pneumonia, [...]
SEOUL, Sept. 27 (Korea Bizwire) — With U.S. President Donald Trump continuing to push to implement policies to export liquefied natural gas (LNG), South Korea was found to be the largest importer of American LNG this year. According to a recent report released by the U.S. Energy Information Administration (EIA), the total amount of LNG [...]
SEOUL, Sept. 27 (Korea Bizwire) — South Korea’s propensity to consume fell to a 13-year low in 2017 as households tightened their purse strings amid a sluggish economy, central bank data showed Thursday. The average consumption propensity, or the ratio of total private and government spending to disposable income, stood at 78.9 percent, down 0.2 [...]