SEOUL, June 2 (Korea Bizwire) – Nearly 4 in 10 employed South Koreans in their late 30s and 60s are interested in second jobs after retirement or are currently making preparations to that end, a poll said Friday. According to the survey of 1,213 people aged between 35 and 69, 30.1 percent of the respondents [...]
SEJONG, Sept. 15 (Korea Bizwire) — South Koreans rank first among the citizens of the Organization for Economic Cooperation and Development (OECD) member countries in terms of visits to hospitals per year, data showed Tuesday. According to the Health Data 2015 provided by the Ministry of Health and Welfare and the OECD, South Koreans visited the [...]
SEOUL, Sept. 2 (Korea Bizwire) — South Korea’s tax revenue growth has failed to keep up with its economic expansion, a lawmaker said Wednesday, calling for the “normalization” of the country’s corporate income taxes. Citing a report by the National Assembly Budget Office, Rep. Park Kwang-on of the main opposition New Politics Alliance for Democracy said [...]
SEOUL, Aug. 30 (Korea Bizwire) — South Korea has the highest suicide rate among the members of the Organization for Economic Cooperation and Development (OECD) and its people were less confident about their health, a report showed Sunday. An average of 29.1 people per 100,000 in South Korea took their own lives in 2012, far surpassing the [...]
SEOUL, Aug. 11 (Korea Bizwire) – South Korea’s information and communications technology (ICT) sector has the largest portion of the value added against other segments among the Organization for Economic Cooperation and Development (OECD) members, thanks to its strength in electronics and optical productions, a report showed Tuesday. Asia’s fourth-largest economy came first with the value [...]
SEOUL, June 28 (Korea Biziwre) — A South Korean think tank downgraded the country’s economic growth forecast for 2015, citing weak exports coupled with the outbreak of Middle East Respiratory Syndrome, which has claimed 32 lives. The Korea Economic Research Institute said it has slashed the economic growth forecast to 2.7 percent for 2015, compared [...]
SEOUL, April 7 (Korea Bizwire) — South Korea’s national debt rose by 39 trillion won (US$35.9 billion) in 2014 from a year earlier as the government engaged in expansionary spending to prop up the weak economy, the finance ministry said Tuesday. According to the 2014 settlement of accounts, the national debt that covers the central [...]
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/SEJONG, Feb. 9 (Korea Bizwire) – South Korea’s tax earnings from the country’s 30 largest conglomerates are expected to shrink 15 percent this year, economic sources said Monday, as the business community claims rates are already high for a trade-dependent nation. Official data by Financial Supervisory Service (FSS) and corporate tracker Chaebul.com said the business groups [...]
“A study claimed that Korea’s per-person gross domestic products will surpass that of Japan by 2020. As the per-capita GDP difference between the two countries is projected to be at the historic low level this year, it seems the journey to catching up with Japan has already begun.” “The International Monetary Fund recently forecast that [...]