YOUNGDEOK, July 10 (Korea Bizwire) — What was once dubbed the “lottery of the sea” has become a costly dilemma for South Korean fishermen along the country’s eastern coast. A surge in bluefin tuna catches, driven by changing sea temperatures, is clashing with outdated government-imposed fishing quotas, forcing fishermen to discard valuable catches — and [...]
SEOUL, Jan. 7 (Korea Bizwire) – An interest rate hike of just 0.25 percentage points will likely cause the household debt service burden to rise by 1.9 trillion won (US$1.6 billion) per year, hurting consumer spending and affecting overall growth, the central bank said Thursday. In a report submitted to Rep. Park Won-suk of the [...]
SEJONG, Nov. 26 (Korea Bizwire) – More South Koreans are feeling the pinch of rising social security outlays as the country moves to expand its welfare infrastructure, a nationwide poll showed Thursday. The 2015 society trend survey on 39,000 people across the country in May revealed that 65.6 percent of respondents said outlays for health [...]