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South Korea’s Economic Growth Slows as Domestic Demand Weakens

South Korea’s Economic Growth Slows as Domestic Demand Weakens

SEJONG, Sept. 3 (Korea Bizwire) — South Korea’s economy is showing signs of a downturn, with domestic demand struggling to gain momentum. Analysts attribute this trend to the reduction in household discretionary income, a consequence of high interest rates and inflation. According to data from the Korean Statistical Information Service (KOSIS) released on September 2, the [...]

S. Korea to Allow Online Permit-free Entry for Tourists from 22 Nations to Spur Spending

S. Korea to Allow Online Permit-free Entry for Tourists from 22 Nations to Spur Spending

SEOUL, March 29 (Korea Bizwire) — South Korea will temporarily exempt people from 22 visa-waiver nations, including the United States, Japan and Taiwan, from mandatory online travel permits and transit visa requirements as part of efforts to attract more foreign tourists and boost domestic demand, the finance ministry said Wednesday. These are a set of [...]