SEOUL, Sept. 5 (Korea Bizwire) – A new study has revealed the stark reality of homeownership in South Korea’s capital, where the average family would need to save their entire income for over a decade to afford a mid-priced apartment. According to data from KB Real Estate Data Hub released on September 3, a household with [...]
SEOUL, Feb. 20 (Korea Bizwire) — With soaring consumer prices, a growing number of Koreans are scrambling to save even the smallest coins. On Thursday at noon, the Seoul Museum of Art square slowly began to be filled with people. After 20 minutes, some 200 people filled up the 800-square-meter plaza. A fintech service provider [...]
SEOUL, June 11 (Korea Bizwire) — Millennials, born between the early 1980s and early 2000s with tendencies to enjoy the present rather than the future, turned out to be quite insistent on prioritizing savings rather than indiscreet consumption. The Hana Institute of Finance, a research unit of Hana Financial Group Inc., conducted a survey of [...]
SEOUL, Oct. 8 (Korea Bizwire) — A new survey has found that while non-retirees predicted their retirement age to be 65 years old, actual retired respondents had to quit work at 57. In addition, the survey found that 1.98 million won was the minimum monetary amount needed per month after retirement to cover daily expenses. [...]
CHARLOTTE, N.C. June 10, 2014 (Korea Bizwire)–As millennial Americans have experienced the effects of the Great Recession of 2008, a strong majority (80%) say it has taught them they have to save “now” to “survive” economic problems down the road. Despite this generation’s reported lesson, 45 percent are not saving for retirement, while slightly more [...]