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S. Korea to supply 2.7 million new homes by 2027

SEJONG -- The Yoon Suk-yeol administration said Tuesday that it will provide 2.7 million new homes nationwide over the next five years by easing regulations on redevelopment and reconstruction, as well as designating a group of locations as new towns for development. The first home supply plan under the Yoon administration was unveiled at a ministerial meeting in Seoul, whose participants included Minister of Econo...

Daejeon , Taejon-gwangyoksi , South-korea , Sanbon , Kyonggi-do , Jungdong , Gyeonggi , Seoul , Soult-ukpyolsi , Gunpo , Pyeongchon , Bucheon

US inflation act likely to benefit solar cell producers: KITA

SEJONG -- Unlike carmakers in South Korea, local producers of solar energy-related items will possibly enjoy benefits from the US Inflation Reaction Act which has strengthened regulations on Chinese products, a Seoul organization representing exporters said Monday. According to a report from the Korea International Trade Association, Korean producers' share of US imports of solar cells surged to 47.8 percent in 2021...

China , Seoul , Soult-ukpyolsi , South-korea , Namhae , Taejon-gwangyoksi , Xinjiang , Jiangxi , United-states , Chinese , American , Korea

Middle East contributes most to Korea's trade deficit

SEJONG -- The Middle East contributed the most to South Korea’s all-time high trade deficit for the first seven months of the year, state data showed Wednesday, reflecting the export-driven economy‘s ongoing high reliance on crude oil.　 According to the Ministry of Trade, Industry and Energy, Korea suffered a cumulative deficit of $51.7 billion in trade with countries in the Middle East during the perio...

Japan , Dubai , Dubayy , United-arab-emirates , India , Texas , United-states , Vietnam , Republic-of , China , Russia , South-korea

South Korea's 3 percent growth target slipping away

SEJONG -- Skepticism is growing over the Korean economy’s growth targets due to a variety of downside risks at home and abroad, though the government had predicted the economy would expand by 3.1 percent this year. The gloomy situation could be seen in the recent announcements of international organizations and rating firms, which started revising down their outlooks on the 2022 gross domestic product growth f...

China , Manila , Philippines , South-korea , Russia , Washington , United-states , Ukraine , Russian , Korea , Fitch-ratings

[News Focus] Number of foreigners in Korea up for 1st time in 20 months

[News Focus] Number of foreigners in Korea up for 1st time in 20 months
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Kazakhstan , Philippines , Japan , Gyeonggi , Kyonggi-do , South-korea , Suwon , Cheju-do , Cambodia , Uzbekistan , Nepal , China

[News Focus] Korea's elderly population surges by 1 million since 2017

[News Focus] Korea’s elderly population surges by 1 million since 2017
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Notices are posted during a nationwide event to find family members separated by the 1950-1953 Korean War, held at the KBS headquarters in Seoul in 1983. People who were aged 29 or over at the time now make up the nation’s elderly population. (National Archives of Korea)
SEJONG -- South Korea’s elderly population has increased by more than 1 million in only three years, with the growth pace accelerating and their portion of the entire population expanding, government data showed.
According to the Ministry of Interior and Safety, the number of seniors, or people aged 65 or over, came to 8.46 million as of November. This posted a growth of 1.13 million (or 15.4 percent) from 7.33 million in November 2017.

Japan , South-korea , France , Switzerland , Korea , Organization-for-economic-cooperation , Statistics-korea , Economic-cooperation , Kim-yon-se , ஜப்பான் , தெற்கு-கொரியா