SEOUL, Nov. 16 (Korea Bizwire) — South Korea saw its foreign population shrink by 3.2 percent in November last year from the previous year, the first such decline at least since 2006 amid the COVID-19 pandemic, the interior ministry said Tuesday. According to a report by the Ministry of the Interior and Safety, the number [...]
SEOUL, Nov. 16 (Korea Bizwire) — The number of multiple home owners in South Korea grew by the smallest number in six years last year due largely to heavy taxation on such people, data showed Tuesday. The number of multiple home owners had reached 2.32 million as of Nov. 1, 2020, up from 2.28 million [...]
SEOUL, Nov. 15 (Korea Bizwire) — South Korea’s rice output rose for the first time in six years due mainly to favorable weather conditions and an increase in the cultivation area, data showed Monday. The country’s rice production reached 3.88 million tons in 2021, up 10.7 percent from a record low of 3.51 million tons [...]
SEOUL, Nov. 15 (Korea Bizwire) — South Korea has the highest ratio of household debt to gross domestic product (GDP) among major economies in the world, a report showed Monday, indicating it could crimp consumption and weigh on the economy down the road. The country’s household debt stood at 104.2 percent of its GDP as [...]
SEOUL, Nov. 14 (Korea Bizwire) — The number of “rich people” with financial assets worth 1 billion won (US$847,000) or more increased nearly 11 percent in South Korea last year from a year earlier largely on stock gains, a report showed Sunday. The number jumped 10.9 percent to 39,300 as of last year, around 0.76 [...]
SEOUL, Nov. 11 (Korea Bizwire) — Retails sales in 15 provinces and major cities in South Korea increased in the third quarter as people increased outdoor activity amid the vaccine rollout and the economic recovery, data showed Thursday. Retail sales, a gauge of private spending, rose in nine provinces and six cities in the third [...]
SEOUL, Nov. 10 (Korea Bizwire) — Teenagers accounted for a quarter of offenders recently caught by police over allegedly supplying sexually exploitative materials across the internet, authorities said Wednesday. The cyber crime division of the National Office of Investigation said 1,625 alleged offenders were rounded up during its special crackdown campaign period against offenses connected [...]
SEOUL, Nov. 10 (Korea Bizwire) — South Korea reported job additions for the eighth straight month in October in the latest sign the country’s economic recovery has continued despite the fourth wave of the pandemic, data showed Wednesday. The number of employed people reached 27.74 million last month, 652,000 more than a year earlier, according [...]
SEOUL, Nov. 9 (Korea Bizwire) — Local governments across South Korea recorded steep budget deficits last year due to increased spending to cope with COVID-19, the interior ministry said Tuesday. According to an analysis by the ministry, the consolidated fiscal balance of 243 local governments for the fiscal year of 2020 recorded a deficit of [...]
SEOUL, Nov. 9 (Korea Bizwire) — The number of travel agencies in South Korea has declined nearly 6 percent over the past two years in the wake of the coronavirus pandemic, industry data showed Tuesday. There were 21,231 tour agencies in Asia’s fourth-largest economy as of end-September, down 6.1 percent from two years earlier, according [...]