OECD Archives | Be Korea-savvy
Social Values and Better Quality of Life Government’s Top Priorities

Social Values and Better Quality of Life Government’s Top Priorities

SEOUL, March 20 (Korea Bizwire) — Social values and the improvement of quality of life are at the forefront of South Korea’s new government innovation plans. According to the new government innovation action plans announced by the Ministry of the Interior and Safety on Monday, social values will be prioritized in all sectors, including society, the [...]

FSC to Refrain From Restrictive Fintech Policies Following Criticism

FSC to Refrain From Restrictive Fintech Policies Following Criticism

SEOUL, Mar. 20 (Korea Bizwire) — Financial authorities will ease Fintech restrictions following criticism that South Korea has the most restrictive information protection policies in Asia. According to the Financial Services Commission on Monday, an opt-out policy will be introduced in the financial information sector to allow companies to collect data and improve data security for [...]

Dozens of Children Killed in School Zone Traffic Accidents Every Year

Dozens of Children Killed in School Zone Traffic Accidents Every Year

SEOUL, Mar. 6 (Korea Bizwire) — A worrying number of South Korean children are falling victim to car accidents, prompting road authorities and schools to take safety precautions. In Seoul alone, an average of 734 pedestrian accidents involving children have taken place each year over the last five years, prompting local police forces to ramp up [...]

Job Longevity Greater in Public Sector

Job Longevity Greater in Public Sector

SEJONG, Feb. 28 (Korea Bizwire) – South Korea’s statistics authority announced on February 27 its figures on public sector employment in 2016, which revealed average job longevity to be over three times longer for public employees than for all salaried workers.  Jobs at state-operated entities and government institutions combined, work positions in the public sector [...]

S. Korean SMEs Have Harder Time Getting Loans compared to Others in OECD 

S. Korean SMEs Have Harder Time Getting Loans compared to Others in OECD 

SEOUL, Feb. 26 (Korea Bizwire) — South Korean small and medium-sized companies have a harder time borrowing from lenders than companies in other Organization for Economic Cooperation and Development (OECD) economies, official data showed Saturday. According to the Paris-based economic organization and the National Assembly Budget Office (NABO), the loan request rejection rate stood at [...]

Korea Posts 2nd Lowest Q4 Growth Among Major Economies: OECD

Korea Posts 2nd Lowest Q4 Growth Among Major Economies: OECD

SEOUL, Feb. 26 (Korea Bizwire) — South Korea posted the second lowest economic growth during the fourth quarter of last year among major advanced and emerging economies, data showed Sunday. Asia’s fourth-largest economy shrank 0.2 percent on-quarter in the October-December period to mark the first negative growth in nine years. It was the second-lowest quarter-to-quarter [...]

S. Korea’s Unemployment in Slump Compared to OECD Improvement

S. Korea’s Unemployment in Slump Compared to OECD Improvement

SEJONG, Feb. 19 (Korea Bizwire) – South Korea’s unemployment rate remained high with no signs of recovery despite solid improvements in the job markets of other advanced economies last year, data showed Sunday. South Korea’s unemployment rate stood at 3.73 percent last year, according to data compiled by Statistics Korea. The numbers mark four straight [...]

S. Korea’s Antibiotics Prescriptions Still Most Among OECD Countries

S. Korea’s Antibiotics Prescriptions Still Most Among OECD Countries

SEOUL, Feb. 7 (Korea Bizwire) — South Korea remained the biggest consumer of antibiotics in 2016, topping the list among member states of the Organization for Economic Cooperation and Development (OECD), health records showed Wednesday. The defined daily dose (DDD), a measure of usage for antibiotics, was 34.8 in South Korea, meaning 34.8 out of [...]