Korea Development Institute Archives | Page 2 of 2

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 [...]

Change in Tax Withholding Patterns Makes Fixed-income Earners Unhappy

SEOUL, May 12 (Korea Bizwire) – Due to a change in tax withholding practice by the tax authorities, most fixed-income earners are not getting as much tax return as before in exchange for lower withholding every month. Although the end-of-the-year take-home income remains the exactly same as before, people feel they lost a lot from [...]