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Reporter : Yi Whan-woo
Sun, October 1, 2023 | 18:26
Deputy prime minister visits SK hynix plant
Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho visited SK hynix plant in Yongin, Gyeonggi Province, Wednesday - a move in line with the government’s commitment to spur chip industry in the midst of its downturn.
Korea sees record-low births in July
The number of babies born in Korea in July sank to an all-time low, data showed on Wednesday, accelerating the looming demographic crisis and further consolidating the country's transformation into an aging society.
Over 100 money changers face suspensions, fines, criminal charges
More than 100 money exchangers were found to be engaging in money laundering and other illegal financial activities, the Korea Customs Service (KCS) announced on Tuesday, as the country is pushing to improve convenience for international travelers to help boost tourism after the pandemic.
6 out of 10 seniors find income insufficient
More than six out of 10 elderly Koreans find that their income is insufficient, as the country rapidly ages with a record 1.97 million people 65 or older and living alone, according to data, Tuesday.
Korea has world's highest senior poverty rate: data
Korea has the highest poverty rate for elderly citizens among a number of major economies with the figure standing at 34.8 percent when net income is assessed, data showed on Monday.
W100 bil. in losses incurred due to gross misconduct at financial firms: FSS data
Financial firms suffered more than 100 billion won ($75 million) in losses due to breach of trust by employees over the past seven years, Financial Supervisory Service (FSS) data showed on Monday.
AI reliance could undermine financial market stability: report
Artificial intelligence (AI) could undermine financial market stability as the investment tools developed by AI share core technology, which in turn, could lead investors exposed to wider risk, a report showed on Sunday.
Low growth becomes new normal for Korean economy
A slow pace of growth of around 2 percent or lower is feared to have become the new normal for the Korean economy, as the spillover effects of China’s economic downturn, high energy prices and soaring interest rates deal a heavier blow to exports and private spending here, according to analysts, Sunday.
Fed's hawkish pause on rates burdens Korean economy
The Korean economy appears destined to continue experiencing the negative impact of high U.S. interest rates following the U.S. Federal Reserve’s hawkish pause on its policy rates, according to analysts, Thursday. The Fed on Wednesday left its benchmark lending rates unchanged at a range of 5.25 percent to 5.5 percent for the second straight meeting since July.
COVID-19 deaths hit record high in Korea for 2022
A record-high number of deaths - 372,939 - hit Korea last year as the COVID-19 pandemic took the lives of older people who are especially vulnerable to the infectious disease, data showed on Thursday.
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