SEOUL, April 24 (Korea Bizwire) — South Korea’s domestic consumption has entered a prolonged downward trend, driven not by short-term disruptions like COVID-19 or inflation, but by deep-rooted structural issues such as demographic aging, employment patterns, and industrial shifts, according to a new report released on April 23, 2025, by the Korea Chamber of Commerce and [...]
SEOUL, Dec. 28 (Korea Bizwire) — South Korea on Wednesday announced a set of measures to cope with the country’s extremely low birthrate and rapid population aging, which could undercut its growth potential and have a wide-ranging effect on its society down the road. The government, among other things, will try to create a stable [...]
SEOUL, July 11 (Korea Bizwire) — The inclination against having babies and raising a family, particularly stronger among South Koreans, has turned out to be a trend that apparently not even money can solve. South Korea’s total fertility rate hit a record low of 0.92 in 2019, way below the 1.63 average of members of [...]
SEOUL, Nov. 17 (Korea Bizwire) — Nearly half of the population in South Korea’s farming areas was aged 65 and older last year as younger people flocked to cities for education and jobs, data showed Tuesday. The portion of those aged 65 and above accounted for 46.6 percent of the total population residing in rural [...]
SEOUL, Aug. 23 (Korea Bizwire) – Korea has increasingly become a single-household nation. It can be seen from TV reality shows and dramas that are likely to show the life of sing-person households. With the number of households headed by a single person increasing around the world, Korea is ranked No. 1 among OECD countries [...]