SEOUL, Sept. 5 (Korea Bizwire) — South Korea’s economic growth ranking among major advanced and emerging economies plunged 10 spots in the second quarter from three months earlier as its recovery lost ground, data showed Tuesday. Asia’s fourth-largest economy expanded 0.6 percent on-quarter in the April-June period, compared with a 1.1 percent expansion for the [...]
SEOUL, Sept. 4 (Korea Bizwire) — Nearly a quarter of salaried workers in South Korea did not use their vacation time from August 2015 through July of last year, a report by a local culture and tourism organization said Monday. The findings, based on a survey of 4,357 people nationwide by the Korea Culture and [...]
SEOUL, Aug. 24 (Korea Bizwire) — The Korea Economic Research Institute held a seminar on August 23 regarding social mobility and education, where Professor Lee Joo Ho of the Korea Development Institute presented his findings on the correlation between children’s school grades and a family’s economic, social and cultural standing (ESCS). His research was based [...]
SEOUL, Aug. 16 (Korea Bizwire) — South Korea has the second-longest average work hours per person, but its wage levels fall under the median among member states of the Organization for Economic Cooperation and Development (OECD), data showed Wednesday. The OECD Employment Outlook 2017, an annual report, said an average South Korean worked 2,069 hours [...]
SEOUL, Aug. 3 (Korea Bizwire) — A new report has claimed South Korea’s ageing population will reshape the landscape of the country’s industry. The report from the Bank of Korea (BOK) released on Wednesday discusses the relationship between an ageing population and industrial structure, welfare and the healthcare service industry. In the report, Kang Jong-gu, the [...]
SEOUL, July 10 (Korea Bizwire) – According to data released by the OECD and the Bank of Korea, South Korea has the lowest out-of-wedlock birth rate among OECD member countries. The findings, which should not come as a surprise to those who know South Korea well, are in line with the country’s anemic birth rate [...]
SEOUL, Jul. 9 (Korea Bizwire) — South Korea has the fewest out-of-wedlock childbirths among developed market economies with high income, a central bank report said Sunday. The result of the Organization for Economic Cooperation and Development (OECD) findings were due to the country’s deep-rooted sentiment against having a child out of marriage, the Bank of [...]
SEOUL, July 4 (Korea Bizwire) – South Korea’s national health insurance system faces challenges from the rapidly aging society, although it has been acclaimed as one of the world’s most effective in terms of universal coverage. The national health care system achieved universal coverage for all people in 1989, 12 years after it was launched [...]
SEOUL, Jul. 3 (Korea Bizwire) — South Korean women employees are paid less than their male counterparts among Organization for Economic Cooperation and Development (OECD) member economies, due to wage discrimination, data showed Monday. The proportion of female low-salaried workers who are paid less than two-thirds of the median wage stood at 37.6 percent in [...]
SEJONG, Jun. 22 (Korea Bizwire) — A third of South Korean people are obese, causing Asia’s fourth-largest economy to shoulder nearly 7 trillion won (US$6.12 billion) in social costs every year, the government said Wednesday. Also, some 25 percent of boys aged between 5 and 14 in South Korea suffer from obesity, compared with an [...]