SEOUL, Dec 30 (Korea Bizwire) – The income gap between South Korea and North Korea hit a high point in 2013, according to a report from Statistics Korea. The annual growth rate of North Korea’s gross national income (GNI) per capita reached a lowest growth rate in seven years. The per capita GNI in [...]
SEOUL, Dec. 30 (Korea Bizwire) – Intellectual property products (IPPs), which span research and development (R&D) as well as cultural entertainment, are playing a bigger role in the growth of Asia’s fourth-largest economy than during the 1970s, data showed on December 29. The net stock value of IPPs, which accounted for 2 percent of the country’s [...]
SEOUL, Oct. 8 (Korea Bizwire) – The interest payment on Korea’s national debt is estimated to reach 21 trillion won (US$19.6 billion) this year, the first time in history to surpass the 20-trillion-won level. This is the burden of about 420,000 won ($391) per person from a newborn baby to a 90-year-old retiree. According to [...]
SEOUL, Oct. 6 (Korea Bizwire) — The home equity loan balance for the purpose of financing the applicant’s business, paying for living expense or paying down other debts has increased close to 60 percent in three years. According to banking sources on October 5, as much as 53.8 percent (27.9 trillion won) was home equity loans out [...]
SEOUL, Sep. 28 (Korea Bizwire) – The balance of money surplus held by Korean households has approached to the 30-trillion-won level during the second quarter of this year, due to weak private consumption. This is the highest level since the Bank of Korea changed the way it compiles the data in the first quarter in [...]
![[Quote] Korean Economy Is Not Mired in Deflation, Says BOK Governor](http://koreabizwire.com/wp/wp-content/uploads/2014/09/2279829783_0a40ae24d3_z.jpg "[Quote] Korean Economy Is Not Mired in Deflation, Says BOK Governor")
“Technically speaking, Korean economy is not deemed to have entered deflation. Although consumer prices have continued to stay in the meager 1-percent range for nearly two years, this trend is largely caused by supply factors such as downward prices of agricultural products and global energy goods. The underlying inflation which indicates basic price pressure in terms [...]
SEOUL, May 9 (Korea Bizwire) – It turns out that a large number of corporate officials, who have participated as examining panels in recruiting process including document screenings and interviews, are not satisfied with their company’s hiring system. According to a survey of 235 business officials, who have taken part in the hiring process, conducted [...]
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, July 22 (Korea Bizwire) – Recently there are signs that the Korean economy has become more and more cash based. In a so-called cash economy, most transactions are made in cash instead of credit cards or bank balance transfers. As more people hold cash as a means of payment, the economy needs more [...]