SEOUL, Aug. 24 (Korea Bizwire) — Fears of a slowdown in the Chinese economy sent shockwaves across global financial markets on Monday, leaving South Korean exporters jittery over their future performance as they rely heavily on the world’s second-largest economy, experts said. China’s Shanghai Composite Index tumbled 8.49 percent on Monday as investors dumped shares [...]
SEOUL, Feb. 13 (Korea Bizwire) – This year, it is expected that Korea will exceed a per capita income of US$30,000. However, in spite of rising incomes, the quality of life of members of the Korean middle class has worsened over the past 20 years, mainly due to rising housing costs. In particular, skyrocketing jeonse leases [...]
SEOUL, Dec.2 (Korea Bizwire) – A study said the volume of the underground economy related to counterfeit goods is estimated at 26 trillion won (US$23.5 billion), with potential tax loss reaching as high as 500 billion won. Joo Won, senior research fellow with Hyundai Economic Research Institute, said on December 1 in a report titled “Estimating the [...]
SEOUL, Sept. 13 (Korea Bizwire) – According to a recent survey by the Statistics Korea, single households are purchasing more lotteries or lottos than other multi-person households. On average, a single-person household spends 894 won (89 US cents) a month to buy the lottery, more than twice higher than 335 won (34 cents) of a [...]
SEOUL, June 18 (Korea Bizwire) – A study shows that Koreans perceive a “middle class household” as a family which earns close to 5.15 million won monthly and owns a 115.7-square-meter residence or 35 pyong one, a unit of size of rooms or buildings in Japan, Korea and Taiwan. Hyundai Economic Research Institute recently issued [...]
SEOUL, May 26 (Korea Bizwire) – Hyundai Economic Research Institute has published a report “Korea’s Social Capital Index” on May 25, comparing the index of Korea with those of 32 Organization for Economic Cooperation and Development member nations. Of the components of social capital, the report defined 15 indexes each for private and public social capital. The [...]
SEOUL, May 26 (Korea Bizwire) – The Korean economy is in trouble because of the strengthening won vis-à-vis the U.S. dollar. For years most exporters have been too complacent under the regime of a weak won that granted them easy access to overseas markets. Even some analysts suggest that the won-dollar exchange rate may fall [...]
SEOUL, Korea, April 16, 2014 (Korea Bizwire) – It seems that spring has already come to the Korean economy. People are rushing to buy new apartments and the number of employed people surpassed the half-million mark for five consecutive months. Export volume in March rose to the second highest level of all time and big-ticket [...]
SEOUL, Korea, Feb 13 (Korea Bizwire) – A survey said four out of ten women in their age between 20 and 30 believe marriage is no longer something you have to do no matter what. According to Hyundai Economic Research Institute on February 12 based on a phone survey conducted for two weeks between January 8 [...]