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Increased Life Expectancy Helps Economic Growth in Long Term

Increased Life Expectancy Helps Economic Growth in Long Term

SEJONG, May 12 (Korea Bizwire) – South Korea’s rapidly increased life expectancy has helped boost the country’s economic growth by 0.4 percentage point over the past 15 years as people tend to save more, eventually leading to an increase in spending and capital stocks, a report showed Thursday. South Korea’s life expectancy reached 82.4 years [...]

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 [...]