SEOUL, Feb. 27 (Korea Bizwire) – Seven out of 10 South Korean students used private education and single-member families accounted for nearly 30 percent of the country’s households in 2017, data showed Wednesday. The findings, based on figures released by the Ministry of Health and Welfare between 2017 and 2018, were compiled by combining 260 [...]
SEOUL, Jan. 4 (Korea Bizwire) — Seoul citizens’ debt load has increased by 90 trillion won (US$79.9 billion) over a seven-year period starting in 2010, a municipal think tank said Friday, calling attention to the liabilities of marginal households. The Seoul Institute, affiliated with the Seoul Metropolitan Government, said in a report that six out [...]
SEOUL, Dec. 26 (Korea Bizwire) — Areas with a higher number of households that pay monthly rent for housing have more schools, while areas with residents who own their homes have more hospitals. In addition, in areas with a high proportion of households living in rented homes, there is a trend towards an increase in [...]
SEOUL, Nov. 23 (Korea Bizwire) — South Korean households’ medical expenses are much higher than the average for members of the Organization for Economic Cooperation and Development despite a continued downturn, data showed Friday. Households’ expenditures accounted for 33.3 percent of South Korea’s total medical expenses in 2016, according to the data from the Korea [...]
SEOUL, Oct. 2 (Korea Bizwire) – Excess funds held by South Korean households fell in the second quarter of this year from a quarter earlier on increased purchases of new houses amid a property boom, central bank data showed Tuesday. Net financial funds, covering assets minus liabilities, controlled by households and nonprofit organizations totaled 11 trillion won [...]
SEOUL, Jul. 4 (Korea Bizwire) — A recent study has revealed that the population in Seoul has continued to age, while smaller-unit families were also on the rise. An data analysis of 42,687 Korean residents over the age of 15 and 2,500 foreigners living in Seoul indicated that the average age of the head of [...]
SEOUL, Feb. 26 (Korea Bizwire) — The income of households led by people in their 40s fell sharply in the fourth quarter of last year, government data showed Saturday, as sluggish economic growth hurt the overall job market. According to Statistics Korea, the average earned income of such households stood at little over 3.4 million [...]
SEOUL, Jan. 7 (Korea Bizwire) – An interest rate hike of just 0.25 percentage points will likely cause the household debt service burden to rise by 1.9 trillion won (US$1.6 billion) per year, hurting consumer spending and affecting overall growth, the central bank said Thursday. In a report submitted to Rep. Park Won-suk of the [...]