SEOUL, March 25 (Korea Bizwire) — South Korea’s elderly poverty rate remains the highest among OECD nations, according to the “Korea SDG Implementation Report 2025″ released by Statistics Korea on March 24. The comprehensive report, which analyzes Korea’s progress on 17 sustainable development goals through comparisons with other OECD countries, reveals both improvements and persistent [...]
SEOUL, March 23 (Korea Bizwire) — The number of South Korean companies with liabilities exceeding their assets has surged to its highest level in six years, signaling deepening concerns over corporate health amid delayed economic recovery and persistently high interest rates. According to a report released on Sunday by the Korea Economic Research Institute (KERI), 4,466 [...]
SEOUL, March 23 (Korea Bizwire) — Nearly half of South Koreans over the age of 50 who transitioned from wage employment to self-employment are earning less than the country’s minimum wage, highlighting the precarious financial situation of older entrepreneurs. According to a report released on Sunday by the Korea Employment Information Service, analysis of Korea Welfare [...]
SEOUL, March 21 (Korea Bizwire) — Seven out of 10 South Koreans are willing to pay more for products from companies that actively pursue environmental, social and government (ESG) management, a local survey showed Friday. In the survey of 3,000 people aged 18 and older conducted by the Federation of Korean Industries (FKI) and Hankook [...]
SEOUL, March 20 (Korea Bizwire) — The number of multicultural marriages reached 20,759 last year, up 1,042 from the previous year’s 19,717 cases, according to the data from Statistics Korea. The number of international marriages sharply declined to around 15,000 in 2020 from about 24,000 the previous year, and slid further to around 13,000 in [...]
SEOUL, March 19 (Korea Bizwire) — South Korea’s combined household, corporate, and government debt—known as national total debt—has surpassed 6,200 trillion won, according to the latest data released by the Bank for International Settlements (BIS). As of the end of the third quarter of 2024, non-financial sector credit, measured in Korean won, reached 6,222 trillion won, [...]
SEOUL, March 16 (Korea Bizwire) — South Korea’s household debt-to-gross domestic product (GDP) ratio was the second highest among major nations, following Canada, amid growing concerns about rising household borrowing amid weak growth and domestic demand, data showed Sunday. The debt-to-GDP ratio for South Korea came to 91.7 percent in the fourth quarter of 2024, [...]
SEOUL, March 16 (Korea Bizwire) — The number of young South Koreans who were jobless or opted to remain economically inactive surpassed 1.2 million last month amid tough job market conditions, data showed Sunday. A total of 1.21 million individuals aged 15 to 29 either remained unemployed or economically inactive to prepare for a job [...]
SEOUL, March 13 (Korea Bizwire) — South Koreans are spending nearly seven times more time watching short-form videos than traditional over-the-top (OTT) streaming content, underscoring a shift in digital consumption patterns toward quick, engaging clips. According to a report released on Thursday by WiseApp Retail, a mobile app and retail analytics firm, the average South Korean [...]
SEOUL, March 13 (Korea Bizwire) — The South Korean government has, for the first time, publicly disclosed data on early childhood private education spending, shedding light on a rapidly expanding market that has sparked concerns over educational inequality and excessive academic pressure on young children. The Ministry of Education released findings from the 2024 Early Childhood [...]