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Research Shows Family Background Linked to Educational Success

Research Shows Family Background Linked to Educational Success

SEOUL, Aug. 24 (Korea Bizwire) — The Korea Economic Research Institute held a seminar on August 23 regarding social mobility and education, where Professor Lee Joo Ho of the Korea Development Institute presented his findings on the correlation between children’s school grades and a family’s economic, social and cultural standing (ESCS). His research was based [...]

Feasibility Test to Build New Gimhae Airport Approved: Gov’t

Feasibility Test to Build New Gimhae Airport Approved: Gov’t

SEJONG, Apr. 11 (Korea Bizwire) — South Korea’s multi-billion-dollar project to build a new airport in the country’s southeast got a boost as it passed a crucial preliminary feasibility test, the transport ministry said Monday. The Korea Development Institute (KDI), a state-run think tank, approved the feasibility study for the 5.97 trillion won (US$5.2 billion) [...]

S. Korea’s Online Sales to Foreign Customers Nearly Triple in 2015

S. Korea’s Online Sales to Foreign Customers Nearly Triple in 2015

SEJONG, March 31 (Korea Bizwire) – South Korea’s online sales to foreign customers nearly tripled last year from a year earlier on the back of rising demand for domestically produced cosmetics and clothing by Chinese consumers, a report showed Thursday. South Korean retailers sold an estimated US$130 million worth of goods to overseas customers through [...]

Government to Implement Discount on Credit Card Fees for Public Interest Groups

Government to Implement Discount on Credit Card Fees for Public Interest Groups

SEOUL, July 25 (Korea Bizwire) – Korea’s government, financial authorities and credit card companies have sat down to discuss implementing a cutback in credit card fees for public interest-serving institutions. Within the latter half of this year, the Credit Finance Association of Korea is planning on commissioning policy think tanks such as the Korea Development Institute for [...]

Regulation on Credit Card Additional Services Only Causes Service Term Reduction

Regulation on Credit Card Additional Services Only Causes Service Term Reduction

SEOUL, July 8 (Korea Bizwire) – The government’s regulation on credit card companies for the consumer rights has backfired. Its regulation on additional services provided by the companies was only proved to be a business ruse to cut their benefits to customers by reducing the length of its service. In April 2010, the Korean government [...]

Younger Koreans Spend Less for Fear of Post-retirement Life

Younger Koreans Spend Less for Fear of Post-retirement Life

SEOUL, May 28 (Korea Bizwire) – A recent survey showed that the stagnation in consumption in the private sector comes from the anxiety over the life after retirement. Because of the longer life expectancy and shortening working period, younger generations are reluctant to spend now in preparation for their future. According to a Korea Development [...]