SEOUL, Nov. 15 (Korea Bizwire) — South Korea has the highest ratio of household debt to gross domestic product (GDP) among major economies in the world, a report showed Monday, indicating it could crimp consumption and weigh on the economy down the road. The country’s household debt stood at 104.2 percent of its GDP as [...]
SEOUL, April 5 (Korea Bizwire) — South Korea’s household debt has been rising faster than that in most major economies to reach nearly 100 percent of its gross domestic product (GDP), a report showed Monday. The country’s household debt-to-GDP ratio stood at 98.6 percent as of the end of June last year, according to the [...]
SEOUL, July 20 (Korea Bizwire) — South Korean households’ debt is one of the world’s highest when compared to the country’s economic size while its debt grew at one of the highest rates in the first three months of the year, a report showed Monday. As of end-March, South Korea’s household debt came to 97.9 [...]
SEOUL, March 4 (Korea Bizwire) — The debt owed by households and small businesses in South Korea rose at one of the world’s fastest rates in 2019 in terms of its ratio to the country’s gross domestic product (GDP), data showed Wednesday. According to the data from the Bank for International Settlement, outstanding debt extended [...]
SEOUL, Feb. 3 (Korea Bizwire) — South Korea’s ratio of private debt to gross domestic product (GDP) grew at the second-fastest click among major economies in the third quarter of 2019, data showed Monday. Household debt in Asia’s fourth-largest economy accounted for 95.1 percent of the country’s GDP as of end-September last year, up 3.9 [...]
SEOUL, Apr. 30 (Korea Bizwire) — South Korea ranked No. 1 in the world in terms of its ratio of research and development (R&D) spending to gross domestic product, data showed Tuesday. The latest data by the Organization for Economic Development & Cooperation (OECD) showed South Korea’s R&D intensity rate standing at 4.55 percent as [...]
ROSEMONT, Ill., Mar. 4 (Korea Bizwire) — Global Dairy Platform (GDP), a pre-competitive collaboration of dairy sector organizations focused on encouraging the appropriate intake of nutrient-rich dairy foods and demonstrating the sector’s role in sustainable agriculture, today announced the addition of Mr. Mike Durkin, President & CEO of Leprino Foods and Mr. Lino Saputo, Jr., [...]
SEOUL, Oct. 25 (Korea Bizwire) — South Korea’s per-capita gross domestic product (GDP) is on track to surpass US$30,000 this year and expected to exceed $40,000 in 2023, a parliamentary report showed Thursday. According to the report by the National Assembly Budget Office (NABO), South Korea’s per-capital GDP is expected to reach $31,862 this year, [...]
SEOUL, Aug. 31 (Korea Bizwire) — A new study has found that the growth rate of South Korea’s gross domestic product (GDP) is expected to turn negative by the 2030s. According to a report released by the Korea Labor Institute yesterday at the 8th National Statistics Development Forum, negative growth is expected due to an [...]
SEOUL, Aug. 5 (Korea Bizwire) -- South Korea’s tax burden ratio is expected to surpass 20 percent of its gross domestic product (GDP) mark for the first time this year, as the government pushes forward expansionist fiscal policies, officials said Sunday. The finance ministry predicted that the country’s tax burden will likely reach record levels [...]