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High rate of young adults economically dependent in Korea

Nearly 57 percent of those aged between 20 and 34 remain economically dependent on their parents even after reaching adulthood, showed a report released during a conference held by the Korea Labor Institute. The report pointed out that these group ... Read More

Exports by startups to hit record $20b this year: KITA

Exports by South Korea's venture startups will likely hit a record $20 billion this year helped by surging shipments of instrumentation and control devices and semiconductor production equipment to China and Vietnam, industry data showed Friday. The amount reached $14.7 ... Read More

Consumer sentiment rebounds in October on eased geopolitical risks

South Korea's consumer confidence rebounded in October as tensions subsided between North Korea and the United States, a central bank poll showed Friday. The composite consumer sentiment index for October stood at 109.2, up 1.5 points from the previous month, ... Read More

Exports up 6.9% this month despite long holiday

Despite experts predicting the long Chuseok holiday earlier this month would put a damper on Korea’s export figures, exports have surged nearly 7 percent compared to last year, according to data from the Korea Customs Service. Following the 10-day holiday ... Read More

Soda more popular than coffee among Koreans

Soft drinks are the most popular drink consumed by South Koreans, followed by coffee, a survey showed. The survey of 500 people conducted by the Ministry of Agriculture, Food and Rural Affairs revealed 26.8 percent picked soda as their most ... Read More

Korea’s economy to grow 2.8% in 2017

South Korea's economy is expected to grow 2.8 percent this year due to a weakening in business investment, a non-governmental think tank said Sunday. The Korea Economic Research Institute said it is lowering growth numbers for 2017 from the previous ... Read More

Korea to promote social economy as new economic engine

The South Korean government said Wednesday that it will promote the "social economy" sector in a bid to expand its contribution to employment and build up a social safety net. The Presidential Committee on Job Creation held a meeting chaired ... Read More

South Korea’s export prices inch up

South Korea’s export prices increased slightly last month from August largely due to rising prices of oil and raw materials, the Bank of Korea said Wednesday. Based on local currency, the prices rose 0.9 percent in September from the previous ... Read More

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