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 [...]
SEOUL, Apr. 23 (Korea Bizwire) – The employment-to-gross domestic product (GDP) ratio fell to a record low last year, data from the central bank and statistical agency showed on Monday, with the speed of the fall causing more alarm among observers of the economy. The ratio measures the number of newly employed workers per 1 [...]
SEOUL, April 4 (Korea Bizwire) — Private spending in South Korea fell to a record low last year amid gloomy employment prospects and rapid population aging. The ratio of private spending to the country’s gross domestic product (GDP) reached 48.1 percent in 2017, down 0.6 percentage points from a year ago, the lowest since records began [...]
SEOUL, Dec. 7 (Korea Bizwire) — South Korea ranks eighth in terms of gross domestic product among the 32 countries which qualified for the 2018 FIFA World Cup in Russia, government data showed Thursday. South Korea, whose FIFA ranking is 59th, had a GDP of US$1.41 trillion last year, according to the data by Statistics [...]
SEOUL, Sept. 11 (Yonhap) — South Korea was one of the smallest investors in families among member states of the Organization for Economic Cooperation and Development (OECD) in 2013, a report showed Monday. The country allocated 1.13 percent of its gross domestic product (GDP) to family benefits spending, and therefore ranks 32nd among 35 OECD [...]
SEOUL, Sept. 11 (Korea Bizwire) – According to Simon Baptist, Chief Economist at the Economist Intelligence Unit, by 2050, South Korea, Canada and Italy may find themselves firmly entrenched outside the global GDP top-10 list. Baptist attributes this change partly to the projected rise of India, with its growing population and migration to urban areas [...]