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OECD Ups S. Korea’s Economic Growth Forecast to 3.2% for 2017

OECD Ups S. Korea’s Economic Growth Forecast to 3.2% for 2017

SEJONG, Nov. 28 (Korea Bizwire) – South Korea’s economy is expected to grow at a brisk 3.2 percent this year, faster than the earlier estimate of 2.6 percent, on the back of improving exports and corporate investment, a Paris-based international organization forecast Tuesday. For next year, the Organization for Economic Cooperation and Development (OECD) revised [...]

Lukewarm Private Consumption Drags Down South Korea’s Economic Recovery

Lukewarm Private Consumption Drags Down South Korea’s Economic Recovery

SEJONG, Oct. 13 (Korea Bizwire) – South Korea’s economic recovery momentum remains feeble as weak domestic demand such as private consumption offset strong overseas sales, a government report said Friday. “The South Korean economy has been maintaining an upturn pace on the back of brisk exports and recovering global demand, but domestic consumption has remained [...]

Good Value ‘Ugly Fruits’ Popular Amid Economic Woes

Good Value ‘Ugly Fruits’ Popular Amid Economic Woes

SEOUL, Aug. 24 (Korea Bizwire) — As the long-term economic slump continues in South Korea, price-competitive fruits that might not meet conventional beauty standards are proving popular among South Korean consumers. Sales of ‘ugly’ fruits jumped more than fivefold between 2010 and 2016, the Rural Development Administration (RDA) announced on Thursday after analyzing household accounts [...]