high inflation Archives | Be Korea-savvy

South Korea’s MZ Generation Embraces Frugality as High Inflation Persists

SEOUL, Jan. 5 (Korea Bizwire) – As the new year dawns, persisting high inflation continues to impact South Korea’s MZ generation (Millennials and Generation Z), prompting them to find various ways to tighten their belts. These younger generations are not only increasing their income through ‘side hustles’ or frugal financial planning but are also looking for [...]

S. Korea to Lift Import Tariffs on More Key Foodstuffs amid High Inflation

SEOUL, July 8 (Korea Bizwire) — South Korea decided Friday to temporarily lift tariffs on seven more kinds of imported foodstuffs, including beef and chicken, in an effort to curb surging inflation and stabilize people’s livelihood. The government will remove tariffs on 100,000 tons of imported beef and 82,500 tons of chicken starting this month, [...]