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Korea’s Financial Services Industry Saw Robust Growth Last Year

SEJONG, April 10 (Korea Bizwire) – Korea’s financial services industry recorded 9.2 percent in output growth last year largely driven by interest revenues from growing household loans, government data showed on Sunday. According to Statistics Korea, the year-on-year production growth of financial institutions in 2016 was more than triple the 3 percent reported for the overall services industry. By institution, banks gained 9 percent, the highest since 11.8 percent in 2008. Nonbank [...]

Recent Years in Numbers: Crime Rose, Volunteering Decreased

SEOUL, March 24 (Korea Bizwire) – Crime in South Korea is on the rise, while the number of volunteers is continuously falling, according to a new report by Statistics Korea published yesterday. The surprising findings revealed that only 10.4 percent of individuals younger than fifteen participated in any type of volunteer work over the past [...]

Use of Free Microdata Rising Sharply

SEJONG, July 18 (Korea Bizwire) – Microdata refers to information from a basic original database that’s created based on statistics and analytical studies, for which input errors and invalid data have been corrected to offer a better user experience. According to Statistics Korea, the total usage of microdata provided by the institution from December 2015 to [...]

Statistics Korea to Open Exclusive Office for Big Data Analysis

SEOUL, Sept. 23 (Korea Bizwire) – In order to strengthen its customized statistics service in line with the “Government 3.0” era, Statistics Korea will reorganize its structure and establish an office devoted to big data analysis. With the reorganization, the national statistics office will transform its Information and Service Bureau into a Statistics Data Hub [...]

Statistics Korea to Build Society Prediction System Leveraging Big Data

SEOUL, Sept. 3 (Korea Bizwire) – Statistics Korea and Naver, the top big data holders in the public and private sectors respectively, have joined hands to create public value based on big data. On September 2, Statistics Korea announced that it signed an MoU with Naver, Korea’s top Internet portal operator, to construct a society prediction [...]

MERS Pushes Consumers to Online Shopping

SEJEONG, August 4 (Korea Bizwire) – Even though consumption in Korea froze as a side effect of the Middle East Respiratory Syndrome (MERS) outbreak, the portion of online shopping increased, reaching an all-time high. With consumers avoiding crowded areas, online shopping presented a safe and convenient alternative. According to the ‘Sales Trend in Retail and Online [...]

Korea to Conduct First Census Based on Big Data

SEOUL, July 24 (Korea Bizwire) – The Population and Housing Census that is held every five years will be conducted this year as a registration-based census for the first time, using big data such as resident registrations and family relation certificates. Statistics Korea will conduct the census on all Koreans and foreign residents in the [...]

Rapid Increase in Number of Unemployed

Seoul, Jul. 13 (Korea Bizwire) — Unemployment is increasing, even though most are trying hard to find a job. One out of ten people are remaining jobless for over six months, despite the efforts they make to get a job. Experts see the phenomenon resulting from an increase in the number of people wanting to [...]

Portion of Youth Population, Lowest Level Ever

SEJONG, July 8 (Korea Bizwire) – The proportion of young people to the total population in South Korea dropped to the lowest level ever in 2015, affected by the country’s chronically low birthrate, government data showed Wednesday. According to the data by Statistics Korea, the number of people under age 14 accounted for 13.9 percent of the total population, down from 14.3 percent the year before and 21.1 percent in 2000. It marks the lowest percentage ever [...]

Koreans Cut Back Cash Gifts, Donations amid Sluggish Economy

SEJONG, June 12 (Korea Bizwire) — South Koreans are cutting back on their cash gifts and donations as the economy remains sluggish, government data showed Friday. According to the data by Statistics Korea, transfer spending that includes cash given as wedding and condolence gifts fell in the first quarter after backtracking in the October-December period. [...]