SEOUL, Jan. 3 (Korea Bizwire) – Small business owners in South Korea are grappling with a burgeoning financial crisis, compounded by the aftermath of the COVID-19 pandemic, rising interest rates, and soaring inflation. As repayment deadlines for accumulated debts loom, there’s an increasing concern over potential defaults, leading to a spike in bankruptcies among these entrepreneurs. [...]
SEOUL, Nov. 27 (Korea Bizwire) — Nearly 60 percent of economic and financial experts worry that South Korea could face a financial crisis in the short term amid concerns that spiking borrowing costs could weigh on businesses and households, a central bank survey showed Sunday. According to the survey that the Bank of Korea (BOK) [...]
SEOUL, Aug. 25 (Korea Bizwire) — The impulse to commit suicide is proportional to the risk of a financial crisis faced by an individual for two consecutive years, research showed Tuesday. A research team from the medical college of Korea University conducted an analysis of 14,321 people using 2012 to 2018 Korea Welfare Panel Study [...]
SEOUL, Nov. 29 (Korea Bizwire) – Eight out of ten Korean small and medium-sized companies have a very unfavourable view of the current state of economic affairs in Korea. A recent survey related to the current financial environment, targeting employees in three hundred SMEs, showed that 85.7 percent thought the country was in a financial [...]
SEJONG, May 10 (Korea Bizwire) – Sluggish global investment stemming from the 2008 global financial crisis has dragged down South Korea’s economic growth by 0.21 percentage point on an annual basis, a report said Tuesday. Global investment was hit hard by the global financial crisis as its portion against the world’s gross demand fell by [...]