SEOUL, August 6 (Korea Bizwire) – A new study by South Korea’s National Pension Research Institute has challenged a widely held assumption that the country’s economic and labor trends will eventually converge with those of advanced economies like the United States and Japan. In a report titled “A Study on the Convergence of Demographic and [...]
SEOUL, July 15 (Korea Bizwire) – Finance minister nominee Koo Yun-cheol said Tuesday he will push for big investments in artificial intelligence (AI) and biohealth industries to help revitalize the South Korean economy currently in a “structural crisis.” “The government will work to fundamentally strengthen the country’s job creation capacity by making big investments in [...]
SEOUL, June 14 (Korea Bizwire) — Once a symbol of status and a booming lifestyle trend during the pandemic, golf in South Korea is now facing a quieter season. The latest figures show that the country’s imports of golf equipment plunged over 23 percent last year, falling to approximately 756.6 billion won (US$557.7 million) — a [...]
SEOUL, May 9 (Korea Bizwire) — South Korea’s long-term economic potential is facing a steep decline and could enter negative territory by the 2040s if structural challenges go unaddressed, the state-run Korea Development Institute (KDI) warned in a report released Thursday. According to the report, “Projections for Potential Growth and Policy Implications,” South Korea’s potential growth [...]