gross domestic product Archives | Be Korea-savvy
S. Korea’s Household Debt Growth Faster than Peers in 2019

S. Korea’s Household Debt Growth Faster than Peers in 2019

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 [...]

S. Korea’s Tax Burden Remains One of the Lowest in OECD: Data

S. Korea’s Tax Burden Remains One of the Lowest in OECD: Data

SEOUL, Apr. 17 (Korea Bizwire) — South Korea’s tax burden, which has steadily risen over the years, still remains among the lowest among the group of developed market economies with high income, data showed Sunday. Data by the Paris-based Organization for Economic Cooperation and Development (OECD) showed that the tax burden ratio of Asia’s fourth-largest [...]

BOK Chief Says Economy Gaining Traction

BOK Chief Says Economy Gaining Traction

SEOUL, April 28 (Korea Bizwire) – South Korea’s top central bank said Tuesday the country’s economic recovery is gaining momentum despite external risks but stressed that structural reform is necessary for long-term growth. Bank of Korea (BOK) data released last week showed that the country’s gross domestic product (GDP) grew 0.8 percent on-quarter in the first three [...]