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OECD Ups S. Korea’s Economic Growth Forecast to 3.2% for 2017

OECD Ups S. Korea’s Economic Growth Forecast to 3.2% for 2017

SEJONG, Nov. 28 (Korea Bizwire) – South Korea’s economy is expected to grow at a brisk 3.2 percent this year, faster than the earlier estimate of 2.6 percent, on the back of improving exports and corporate investment, a Paris-based international organization forecast Tuesday. For next year, the Organization for Economic Cooperation and Development (OECD) revised [...]

S. Korea’s Q3 Growth Ranks 2nd Among OECD Nations

S. Korea’s Q3 Growth Ranks 2nd Among OECD Nations

SEOUL, Nov. 27 (Korea Bizwire) — South Korea’s economic growth ranked second among major advanced and emerging economies in the third quarter of the year on brisk exports and increased fiscal spending, data showed Monday. Asia’s fourth-largest economy expanded 1.4 percent in the July-September period from three months earlier, according to the data from the [...]

Shorter Work Hours Linked to Better Productivity, Report Says

Shorter Work Hours Linked to Better Productivity, Report Says

SEJONG, Nov. 2 (Korea Bizwire) – A new report by a government-backed policy institute has claimed that the introduction of the 40-hour work week has led to a 1.5 percent rise in productivity. The report, published by researchers Park Yun-soo and Park Woo-ram at the Korea Development Institute on Wednesday, showed fewer working hours are linked [...]

South Korea’s Traffic Death Rate Still High Among OECD Members

South Korea’s Traffic Death Rate Still High Among OECD Members

SEJONG, Oct. 2 (Korea Bizwire) – South Korea’s traffic-related deaths have been on a steady decline but still remained at the top level among member countries of the Organization for Economic Cooperation and Development (OECD), government data showed Monday. Based on OECD criteria, the country’s death rates from traffic accidents per 100,000 inhabitants reached 10 [...]