SEOUL, Aug. 20 (Korea Bizwire) — The income gap between wage earners in the top 10 percent and the bottom 10 percent was more than fourfold in South Korea last year. The income gap of South Korean workers was the highest of all Organisation for Economic Co-operation and Development (OECD) member states, with the gap [...]
SEOUL, Jul. 23 (Korea Bizwire) — South Korea was the fourth-largest emitter of carbon dioxide (CO2) among members of the Organization for Economic Cooperation and Development (OECD) in 2017 due to its high dependence on fossil fuels, a report showed Monday. According to the report by global oil and gas major BP, South Korea’s CO2 [...]
SEOUL, Jul. 13 (Korea Bizwire) — The life expectancy of South Koreans now stands at 82.4 years, which is 1.6 years longer than the OECD average. Despite living longer than average, the percentage of South Koreans who think they are healthy was the lowest of all OECD member states. According to OECD Health Statistics revealed [...]
SEOUL, Jun. 3 (Korea Bizwire) — South Korea’s proportion of employed older seniors was the highest among countries of the Organization for Economic Cooperation and Development (OECD), but that of young people remained at the bottom due to the country’s low social safety net and the tightened job market, a report showed Saturday. According to [...]
SEJONG, May 7 (Korea Bizwire) — New data has revealed that South Korea’s GDP per hour worked per hour is far lower than that of other advanced nations, and belies the nation’s reputation as one of the world’s leading economies. Experts attribute the low rate to the grueling long work hours not found in other [...]
SEOUL, May 2 (Korea Bizwire) — South Korea’s medical expenditures have grown at the fastest pace among other major economies over the past decade, a report showed Wednesday. According to the report by the Korea Institute for Health and Social Affairs, medical spending in South Korea jumped by an annual average of 6.8 percent between [...]
SEOUL, Apr. 16 (Korea Bizwire) — South Koreans ranked fifth in per capita energy consumption among member states of the Organization for Economic Cooperation and Development (OECD) in 2016, data released on Monday showed. Individual South Koreans consumed an average of 5.6 TOE (ton of oil equivalent) during that year. The figure places them after [...]
SEOUL, April 4 (Korea Bizwire) — South Korea is finally forcing passengers to wear a seatbelt at all times. Police announced a universal seatbelt law last week, forcing drivers and passengers in all seats to wear a seatbelt, including taxis and express buses, also known as red buses, from late September. Those breaching the new traffic [...]
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 [...]
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 [...]