SEOUL, March 20 (Korea Bizwire) – Prices at the recently opened IKEA store in Gwangmyeong, on the outskirts of Seoul, are among the most expensive in the OECD. The only country with higher average prices than Korea is IKEA’s home base of Sweden. The global furniture giant appears to have chosen a high-price policy in Korea, [...]
SEOUL, March 15 (Korea Bizwire) – The poverty rate of South Korea’s elderly was by far the highest among advanced countries, while the net pension replacement rate for the population was one of the lowest, a report showed Sunday. According to the report from the government-funded Korea Labor Institute, South Korea’s poverty rate among elderly [...]
SEOUL, Feb. 12 (Korea Bizwire) – Korean teachers are most likely to regret their career choice among other OECD peers, as almost 20 percent regret becoming teachers. According to Yang Jung-ho, a professor of education at Sungkyunkwan University, who analyzed 105,000 middle school teachers based on the OECD report “Teaching and Learning International Survey 2013”, Korean [...]
SEJONG, Feb. 9 (Korea Bizwire) — The Organization for Economic Cooperation and Development (OECD) on Monday called on South Korea to enhance its transparency in taxes and regulatory policies to better attract overseas investment that can breathe new life into the country’s economy. The Going for Growth 2015 report released by the Paris-based organization said [...]
SEOUL, Nov. 27 (Korea Bizwire) — Korea’s effect of taxes and social spending on poverty reduction turned out smallest among Organization for Economic Cooperation and Development member nations. According to the 2014 Household Finance and Welfare Survey released on November 26, Korea’s poverty rate in 2013 was 18.9 percent in terms of market income and 16.4 percent in [...]
SEOUL, Nov. 14 (Korea Bizwire) – South Korea was the world’s most research and development intensive country in 2012, spending 4.36 percent of GDP on R&D, according to the OECD Science, Technology and Industry Outlook 2014. Korea also was the top at the R&D spending rate out of the total revenue, representing 3.4 percent. The report [...]
SEOUL, Oct. 29 (Korea Bizwire) – On every last Tuesday of October, which fell on October 28 this year, Korea commemorates “Savings Day” to encourage its people to save more money for economic development since 1964. Typically, the day’s event was covered by many citations for individuals and companies who saved much. However, this year’s [...]
SEOUL, Sep. 11 (Korea Bizwire) – Korea was ranked No. 1 again in terms of the private share of public education cost among 34 Organization for Economic Cooperation & Development members for 14 consecutive years. According to the Ministry of Education on September 9 based on data released by the OECD, the ratio of public education [...]
SEOUL, Aug. 27 (Korea Bizwire) — An OECD report shows that the working hours of Korean employees is second-longest in last year among those of OECD member countries. The working hours for Koreans were 1.3 times longer than that of the OECD average, and 1.6 times longer than that of the Netherlands, where the employees worked for [...]
SEOUL, July 17 (Korea Bizwire) – Korean adults look slimmer than people of other Organization for Economic Cooperation and Development (OECD)member countries, but the child obesity rate in Korea is a cause for concern and turns out being above that of the OECD average. According to an OECD report released on July 14, among the Korean adults [...]