SEOUL, Aug. 2 (Korea Bizwire) — South Korea’s economy contracted 3.3 percent in the second quarter from a quarter earlier, but it fared well compared with other major economies, data showed Sunday. South Korea’s gross domestic product (GDP) growth rate was the second highest among the 14 countries that included the United States, China, Germany [...]
SEOUL, July 22 (Korea Bizwire) — South Korean babies born in 2018 are expected to live over 82 years, two years longer than the Organization for Economic Cooperation and Development’s average, as many take care of their health with regular medical checkups and treatment, data showed Wednesday. The figure remains unchanged from the year before, [...]
SEOUL, April 10 (Korea Bizwire) — North Korea’s economy has become increasingly marketized in the past two decades with the emergence of local markets and a newly affluent class of traders, the Organization for Economic Cooperation and Development said in a recent working paper. The OECD also said in the paper, titled “North Korea: The [...]
SEOUL, March 12 (Korea Bizwire) — Pummeled by the rapid spread of the novel coronavirus, South Korea’s consumer sentiment fell at the fastest clip among major economies in February, data showed Thursday. South Korea’s composite consumer sentiment index stood at 96.9 for February, down 0.4 from the previous month, according to the data from the [...]
SEOUL, Jan. 13 (Korea Bizwire) — The proportion of unemployed people aged 25-29 in South Korea has ranked the highest among member nations of the Organization for Economic Cooperation and Development (OECD), a report showed Monday. According to the report by the Bank of Korea (BOK), the 25-29 age bracket accounted for 21.6 percent of [...]
SEOUL, Nov. 17 (Korea Bizwire) — South Korea ranks as one of the leading members among the Organization for Economic Cooperation and Development (OECD) in the treatment of cancer, medical data showed Sunday. The 2019 Health at a Glance report released by the Paris-based organization said Asia’s fourth-largest economy had the highest five-year survival rate [...]
SEOUL, Jul. 1 (Korea Bizwire) — South Korea, which ranks as one of the worst Organization for Economic Cooperation and Development (OECD) countries for energy efficiency, needs to raise the price of electricity in order to reduce greenhouse gas emissions, according to experts. The KEPCO Management Research Institute recently reported that the nation ranked 33rd [...]
SEOUL, Feb. 25 (Korea Bizwire) — South Korea remained the top country where women workers face low wages, a report from the Organization for Economic Cooperation and Development (OECD) said Monday. Data from 2017 showed that 35.3 percent of female workers in South Korea were being paid low wages. Employees who were getting less than [...]
SEOUL, Jan. 28 (Korea Bizwire) — South Koreans’ financial literacy was slightly lower than the average of the Organization for Economic Cooperation and Development (OECD) countries last year, a survey showed Monday. The financial literacy of South Korean people aged between 18 and 79 came to 62.2 points in 2018, according to the survey by the Bank of Korea [...]
SEOUL, Jan. 13 (Korea Bizwire) — South Koreans put in an average of 1.3 fewer hours at their jobs in 2018, but the country still had one of the longest workweeks among Organization for Economic Cooperation and Development (OECD) members, official data showed Sunday. According to the Statistics Korea, South Korean employees worked 41.5 hours [...]