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4 in 10 Middle-aged Adults Support Both Their Children and Parents

4 in 10 Middle-aged Adults Support Both Their Children and Parents

SEOUL, May 28 (Korea Bizwire) – About 4 out of 10 middle-aged South Koreans are burdened with “double care”, where they have to support their single children in adulthood along with their elderly parents. According to a report released by the Korea Institute for Health and Social Affairs, 39.5 percent of the 1,000 middle-aged people [...]

Seoul to Spend More on Struggling Shipyards

Seoul to Spend More on Struggling Shipyards

SEOUL, Apr. 24 (Korea Bizwire) — South Korea’s industry ministry said Wednesday it would spend 70 billion won (US$61 million) to support local shipbuilders’ efforts to recover from an industrywide slump. The Ministry of Trade, Industry and Energy said the newly earmarked spending will center on helping local shipyards tap deeper into the market for [...]

Only 10% of Married Couples Believe Firstborn Male Child Must Take Care of Parents

Only 10% of Married Couples Believe Firstborn Male Child Must Take Care of Parents

SEOUL, May 9 (Korea Bizwire) – A survey said the conventional idea of the eldest son living with his old parents is almost disappearing. According to a recent survey by the Planned Population Federation of Korea on 1,466 married men and women, 44.6 percent of respondents said “It is better for parents to live apart from their [...]