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Average Korean would have to save 15 years’ worth of income to afford a home in Seoul The proportion of young South Koreans who own their own home reached a five-year low of 13.2% amid rising housing prices, with a 7.1-point decline in four years for the percentage of home-owning newly Thu, 28 Dec 2023 09:55:38 GMT
[Interview] Korea should prioritize raising quality of life over indiscriminate growth, argue economists On Friday, the Hankyoreh sat down with MIT economics professors Esther Duflo and Abhijit Banerjee in Seoul’s Myeongdong area for an interview. The two were jointly awarded the Nobel Memorial Prize in Tue, 26 Dec 2023 17:59:38 GMT
Will LG Chem’s soon-to-be-built massive cathode plant in US ease Korean firm’s IRA woes? LG Chem has begun construction on what it says will be the biggest cathode plant in the US.The Korean chemical company announced that it held a groundbreaking ceremony for a cathode plant in Clarksvil Thu, 21 Dec 2023 17:14:05 GMT
Hyundai Motor offloads Russian plant for grand sum of 100 bucks Hyundai Motor Co. plans to accept the equivalent of 140,000 won (10,000 rubles) to withdraw from its factory in Russia, which has stopped operating amid the current war.In an ad hoc meeting of its boa Wed, 20 Dec 2023 17:17:43 GMT
As China’s PLA buys up GPUs, will 2024 be the year the chip war heats up? Semiconductors are a key strategic industry in the era of “technopolitics,” a term that describes how geopolitical hegemony is determined by technology. Kwon Seok-joon, professor at Sungkyunkwan Unive Sun, 17 Dec 2023 09:54:09 GMT
Korea’s closing demographic window will shave 1.13 points off economic growth annually over coming decades An analysis has shown that South Korea’s demographic structure has entered a phase in which it will lower the country’s per capita gross domestic product (GDP) growth rate by an average of 1.13 percen Fri, 15 Dec 2023 16:39:34 GMT
Why heads of Korea’s chaebol ate tteokbokki with Yoon Critics of the ownership structure of South Korea’s chaebol (large family-controlled conglomerates) say that a key issue is the tendency for the owning families (that is, the majority shareholders) to Wed, 13 Dec 2023 17:08:40 GMT
New IRA guidelines could pour cold water on joint battery ventures between S. Korea, China The US has announced that any foreign joint venture with a Chinese battery maker that is at least 25% owned by the Chinese government will be ineligible for electric vehicle (EV) subsidies or tax cred Mon, 04 Dec 2023 17:04:33 GMT
S. Korea to see negative growth by 2050s if record-low birth rates persist, says BOK If South Korea’s birth rate stays on its current trajectory, the country is likely to see a negative economic growth rate starting in 2050. If the Korean government fails to combat plummeting birth ra Mon, 04 Dec 2023 16:55:21 GMT
Understanding S. Korea’s bafflingly low unemployment rate The ultimate aim of economic activity is consumption, and employment is the source of the income used to consume. This is one reason the unemployment rate is a more important indicator than the inflat Fri, 24 Nov 2023 16:29:36 GMT
Populist promises, geopolitical crisis: Experts say winter is coming for Korea’s economy in 2024 “Winter is coming,” said Lee Si-wook, an international trade expert, at a press conference organized by the Korea Development Institute at the start of the Trump administration in February 2017, borro Thu, 23 Nov 2023 17:13:29 GMT
Korea’s household credit hits record high on surging mortgage balances South Korea’s total household credit (debt) balance reached its second record high in a year amid a large increase in housing-related loans in the financial sector during the third quarter of 2023 (Ju Wed, 22 Nov 2023 16:45:44 GMT
S. Korea sees surge in businesses unable to keep up with interest payments Corporate and household loan debts are increasing in Korea as commercial banks are unable to collect even interest. Corporate loans saw a greater growth in loans than households. According to third-qu Tue, 21 Nov 2023 17:31:23 GMT
“Unusually low”: IMF notes Korea’s record-low unemployment amid bottoming out growth The unemployment rate in South Korea came out to 2.1% last month, the lowest the figure has ever been in the month of October. This means only 2 out of 100 economically active individuals were unemplo Mon, 20 Nov 2023 17:28:33 GMT
Highly educated high-earners at risk of being replaced by AI, BOK study says Doctors, accountants, asset managers and lawyers are among the vocations that are at high risk of replacement due to advances in AI technology. This means that the likelihood of job losses or lower wa Mon, 20 Nov 2023 17:18:16 GMT

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