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 [...]
SEOUL, Mar. 6 (Korea Bizwire) — A worrying number of South Korean children are falling victim to car accidents, prompting road authorities and schools to take safety precautions. In Seoul alone, an average of 734 pedestrian accidents involving children have taken place each year over the last five years, prompting local police forces to ramp up [...]
SEJONG, Feb. 28 (Korea Bizwire) – South Korea’s statistics authority announced on February 27 its figures on public sector employment in 2016, which revealed average job longevity to be over three times longer for public employees than for all salaried workers. Jobs at state-operated entities and government institutions combined, work positions in the public sector [...]
SEOUL, Feb. 26 (Korea Bizwire) — South Korean small and medium-sized companies have a harder time borrowing from lenders than companies in other Organization for Economic Cooperation and Development (OECD) economies, official data showed Saturday. According to the Paris-based economic organization and the National Assembly Budget Office (NABO), the loan request rejection rate stood at [...]
SEOUL, Feb. 26 (Korea Bizwire) — South Korea posted the second lowest economic growth during the fourth quarter of last year among major advanced and emerging economies, data showed Sunday. Asia’s fourth-largest economy shrank 0.2 percent on-quarter in the October-December period to mark the first negative growth in nine years. It was the second-lowest quarter-to-quarter [...]
SEJONG, Feb. 19 (Korea Bizwire) – South Korea’s unemployment rate remained high with no signs of recovery despite solid improvements in the job markets of other advanced economies last year, data showed Sunday. South Korea’s unemployment rate stood at 3.73 percent last year, according to data compiled by Statistics Korea. The numbers mark four straight [...]
SEOUL, Feb. 7 (Korea Bizwire) — South Korea remained the biggest consumer of antibiotics in 2016, topping the list among member states of the Organization for Economic Cooperation and Development (OECD), health records showed Wednesday. The defined daily dose (DDD), a measure of usage for antibiotics, was 34.8 in South Korea, meaning 34.8 out of [...]
SEOUL, Feb. 5 (Korea Bizwire) – The academic performance of South Korean students coming from underprivileged backgrounds has retreated over the past nine years, according to the latest findings of the OECD. The percentage of youngsters belonging to the bottom 25 percent socioeconomic stratum who attained scores equating to level 3 or above on 2015′s [...]
SEOUL, Feb. 1 (Korea Bizwire) – South Korea’s science and technology capabilities ranked seventh among the 34 member states of the Organization for Economic Cooperation and Development (OECD) in 2017, a state-run think tank said Thursday. The Korea Institute of S&T Evaluation and Planning (KISTEP) said the evaluation was based on a total of five categories: research environment, support from both [...]
SEOUL, Jan. 25 (Korea Bizwire) — A total of 25.6 suicides per 100,000 across the entire population — a statistic that equates to one suicide per 40 minutes or 36 suicides per day — is South Korea’s alarming suicide rate in 2016. South Korea bears the undesirable distinction of having led all OECD countries in [...]