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Aging Population to Pressure Long-term Credit Ratings for S. Korea: Moody’s

Aging Population to Pressure Long-term Credit Ratings for S. Korea: Moody’s

SEOUL, Nov. 1 (Korea Bizwire) — The aging of the workforce will put pressure on South Korea’s economic and fiscal strength and affect its long-term sovereign credit profiles, a global ratings agency has said. In its latest report, released Wednesday, Moody’s Investors Service said the credit ratings of South Korea and Japan will come under [...]

40 Percent of S. Korean Municipalities at Risk of Being Abolished: Survey

40 Percent of S. Korean Municipalities at Risk of Being Abolished: Survey

SEJONG, Aug. 13 (Korea Bizwire) — About 40 percent of South Korean municipalities may be abolished in the future because of declining birthrates and an aging population, a survey by a state-run research institute showed Monday. Lee Sang-ho, a researcher at the Employment Information Service, released the study, conducted in June, which measured the sustainability [...]

More Patents for Protecting the Elderly

More Patents for Protecting the Elderly

DAEJEON, Jan. 24 (Korea Bizwire) – An increasing number of technology patents that might help guarantee health and safety improvements for single-person elderly households are being introduced.  According to the Korea Intellectual Property Office, the average annual number of such patents in the past five years (2012 – 2016) was 153, more than twice the [...]

S. Korea’s Population Likely to Start Shrinking in 2032

S. Korea’s Population Likely to Start Shrinking in 2032

SEJONG, Dec. 8 (Korea Bizwire) – South Korea’s population is expected to start contracting in 2032 amid widespread concerns that the country’s chronic low birthrate and aging citizens will undermine growth potential, a government report showed Wednesday.  According to the report by Statistics Korea, Asia’s fourth-largest economy will likely see its population peak at 52.96 [...]

Elderly Hold Key to Korea’s Consumption Growth

Elderly Hold Key to Korea’s Consumption Growth

SEOUL, Nov. 9 (Korea Bizwire) – Amid stagnant growth of local household consumption, a recent study indicated that the elderly will play an essential role in leading Korea’s future consumption.  According to the report – Consumption Status of the Elderly and its Implications – compiled by the Bank of Korea’s research bureau, the contribution rate [...]