SEOUL, Nov. 22 (Korea Bizwire) — The lower income tier spent more than half of its disposable income on food in the third quarter of this year, with consumers directly exposed to surging prices, the statistics agency said Monday. Statistics Korea’s Household Income and Expenditure Survey showed that households located in the lower 20 percent [...]
SEOUL, Aug. 15 (Korea Bizwire) — The recent torrential rain that hit South Korea’s central region was responsible for the deaths of several people among society’s more vulnerable groups, and the socially vulnerable bear larger and more extensive mental damage, a study showed Sunday. Lee Yoo-bin from the Seoul National University Graduate School of Public [...]
SEOUL, Aug. 9 (Korea Bizwire) — The monthly income of life and non-life insurance planners has declined due to the worsening of the sales environment and the deterioration of channel competitiveness caused by the COVID-19 pandemic, a research institute said. According to the latest report published by the Korea Insurance Research Institute, the average monthly [...]
SEOUL, May 10 (Korea Bizwire) — More than 15 percent of households in South Korea are unable to balance their budget, a local think tank said. According to the last year’s study on household finance and welfare conducted by the Korea Institute of Finance, 17.2 percent (3.54 million) of the 20.52 million households in the [...]
SEOUL, March 30 (Korea Bizwire) — Rice farmers in South Korea posted the largest net profit in 20 years in 2021 thanks mainly to favorable weather conditions, data showed Wednesday. Rice farmers’ net income reached some 502,000 won (US$414.2) per 1,000-square-meter paddy last year, up 13.4 percent from a year earlier, according to the data [...]
SEOUL, March 23 (Korea Bizwire) — Those in low-income groups are bearing a relatively higher inflation burden than those with higher incomes in the era of the COVID-19 pandemic, a local research institute said. The Korea Economic Research Institute (KERI) analyzed the change in prices felt by consumers for the periods of 2018-2019 and 2020-2021. [...]
SEOUL, March 22 (Korea Bizwire) — Almost 75 percent of people in the top 1 percent of the earned income tier work at companies located in greater Seoul area, indicating severe inequality between regions in terms of job quality, data showed Monday. Rep. Kim Hoi-jae of the Democratic Party received reports from the National Tax [...]
SEOUL, March 15 (Korea Bizwire) — Debt among the “MZ generation,” a Korean term referring to those aged between late 10s and 30s, widened at a faster rate than income compared with 20 years ago, a central bank report showed Tuesday. The “MZ generation” refers to a pairing of two groups — millennials born between [...]
SEJONG, March 2 (Korea Bizwire) — The average income of singers and actors declined but that of athletes increased in 2020 in the wake of the coronavirus pandemic, data showed Tuesday. The combined income of the nation’s 8,068 singers who reported business income in 2020 totaled 261.7 billion won (US$217 million), with an average per-capita [...]
SEOUL, Feb. 28 (Korea Bizwire) — About half of young South Korean workers were not satisfied with their income level, a survey showed Sunday. The National Youth Policy Institute conducted a survey of 4,141 South Koreans between 19 and 34 years of age, and found that the annual income of the respondents averaged 22.23 million [...]