burden Archives | Be Korea-savvy

Interest Rate Hike May Pose Challenges for Households

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 [...]

More S. Koreans Burdened by Social Security Outlays

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 [...]