economic slowdown Archives | Be Korea-savvy
Number of Marriages Falls to Lowest Level in More than Four Decades

Number of Marriages Falls to Lowest Level in More than Four Decades

SEJONG, Mar. 20 (Korea Bizwire) — The number of South Koreans getting married fell to the lowest level in more than 40 years in 2018, government data showed Wednesday, as young people delay marriage amid a prolonged economic slowdown. The number of couples tying the knot came to 257,622 in 2018, compared with 264,455 in [...]

Savings Banks’ Household Loans Soar Amid Economic Slump

Savings Banks’ Household Loans Soar Amid Economic Slump

SEOUL, Nov. 28 (Korea Bizwire) — The ratio of South Korean savings banks’ loans extended to households hit a record amid shrinking corporate investment, data showed Sunday. Their outstanding loans totaled 41.1 trillion won (US$34.9 billion) as of end-September, up 15.77 percent from the end of last year, according to the Bank of Korea’s economic [...]

Sales of Baby Products Keep Growing amid Decline in Retail Industry

Sales of Baby Products Keep Growing amid Decline in Retail Industry

SEOUL, April 13 (Korea Bizwire) – Through the ongoing economic slowdown, consumption has decreased in almost every sector, but baby products have continued to sell well, hinting that Koreans do not reduce consumption for their children even when faced with economic hardship. According to a statement from Lotte Mart on April 12, overall revenue in the [...]