More than half of South Koreans in their teens and 20s think it is not necessary to have kids after marriage, a report showed, adding to concerns about the country’s chronic low birth rate. 　As of 2020, 32 percent of Koreans aged 13 or older said it is not necessary to have children after getting married, up from 30.4 percent two years earlier, according to the report on social indexes by Statistics Korea. 　All age groups felt less need to have kids after marriage, but in particular

National April 12, 2021

　Sales of South Korea‘s top instant noodle makers posted strong sales in 2020 thanks to brisk demand amid the coronavirus pandemic, data showed. 　Nongshim said its sales of instant noodles, or “ramyeon” in Korean, came to 2.09 trillion won ($1.85 billion) last year, up 16.3 percent from the previous year, according to the data from the Financial Supervisory Service. It marks the first time for Nongshim’s ramyeon sales to top the 2 trillion-won mark and the amount acc

Business April 9, 2021

　COVID-19 has done little to alter the ranking of the world’s happiest countries, with Finland at the top for a fourth year running, an annual UN-sponsored report said. 　The researchers behind the World Happiness Report, now in its ninth year, used Gallup data asking people in 149 countries to rate their own happiness, also taking into account measures such as GDP, social support, personal freedom and levels of corruption to give each nation a happiness score, which is an average of t

World April 8, 2021

　South Korea’s two major automotive light-emitting diode makers saw their revenues increase last year despite an overall market slump amid the pandemic, a report showed. 　Seoul Semiconductor and Samsung Electronics maintained their status as the world’s fifth- and seventh-largest automotive LED suppliers, respectively, in 2020, but their market shares and sales grew, according to market researcher TrendForce. 　Seoul Semiconductor’s revenue jumped 3.2 percent to $130 mil

Business April 7, 2021

　South Korea said it will seek to expand the size of the local pet fish market by 35 percent through 2025 by developing more homegrown species while encouraging the public to adopt them. 　Under the goal, the size of the local pet fish market will reach 657 billion won ($581 million) in 2025, up 35 percent from 487.3 billion won tallied in 2020, according to the Ministry of Oceans and Fisheries. 　Over the period, the number of farms raising pet fish will increase to 186 from the current 151

Business April 6, 2021

　The number of South Koreans getting married fell at a double-digit rate to an all-time low in 2020, amid young people’s changing attitude toward marriage and the negative impact of the coronavirus pandemic, government data showed. 　The number of couples tying the knot in Asia’s fourth-largest economy reached 214,000 last year, down 10.7 percent from the previous year, according to data from Statistics Korea. 　The figure is the lowest since 1970, when the statistical agency b

National March 31, 2021

　Foreign currency deposits at banks in South Korea rose in February, mainly due to a gain in corporate holdings of US dollar deposits, central bank data showed. 　Outstanding foreign currency-denominated deposits held by residents amounted to $90.03 billion as of end-February, up $650 million from the previous month, according to the data from the Bank of Korea. 　Residents include local citizens and foreigners staying here for more than six months, as well as foreign companies. The data ex

Business March 30, 2021

　The number of stock trading accounts in South Korea has risen sharply over the past year to surpass the 40 million mark amid a buying craze by retail investors, industry data showed. 　Active stock accounts in Asia‘s fourth-largest economy numbered 40.07 million as of March 19, up from 35.48 million at the end of last year. 　It marks the first time that the country’s number of active stock accounts has exceeded the 40-million level. 　The number has increased by approximately 1

Business March 29, 2021

　China’s imports of South Korean products last year stayed nearly the same as the previous year despite the novel coronavirus pandemic, a report showed, as the world’s second-largest economy bought more consumer goods like cosmetics. 　China imported $173.5 billion worth of goods from South Korea in 2020, only 0.03 percent down from 2019, according to the report from the Korea Trade-Investment Promotion Agency. 　China spent $10 million or more on each of 59 items from South Ko

Business March 26, 2021

　The United Arab Emirates, a magnet for the globe’s ultrarich, has also emerged as one of the fastest-growing corporate tax havens, according to a study that highlighted a $200 billion-plus money flow to the country. 　The index by the Tax Justice Network, which highlights countries that attract companies to shrink their tax bills, added the United Arab Emirates to its top-10 ranking that includes Switzerland and Bermuda. 　Britain’s offshore territories of the British Virgin Isl

World March 25, 2021

　The number of big-name retailers’ beauty stores in South Korea declined for the first time in 2020, as more customers turned to online shopping amid the coronavirus pandemic, data showed. 　The country’s three major health and beauty chains - Olive Young, Lalavla and LOHB’s - had a combined 1,484 outlets across the nation as of end-December last year, down 31 from a year earlier, according to data posted on the electronic disclosure system of the Financial Supervisory Serv

Business March 24, 2021

　South Korea’s airfreight exports jumped to account for 36 percent of the country’s overall exports last year, industry data showed, on higher demand for chips and bio-health products. 　Of the country’s combined exports of $512.5 billion in 2020, air transport accounted for $183 billion, according to the data compiled by the Korea International Trade Association. 　While maritime transport still accounted for the majority of $325.8 billion, the portion of air cargo rose 5

Business March 23, 2021

　Samsung Electronics was relegated to the runner-up spot in the market for connected TV devices, which includes smart TVs, streamers and gaming consoles, in the fourth quarter of 2020, a report showed. 　Samsung, the world’s largest TV maker, shipped 11.9 million connected TV devices in the October-December period, up 2 percent from a quarter earlier, accounting for a 10.9 percent market share, according to industry researcher Strategy Analytics. 　Despite the increase in sales, Sams

World Business March 22, 2021

　South Korea’s health care and cosmetics exports soared more than 38 percent to an all-time high in 2020 amid the coronavirus pandemic, industry data showed. 　The country’s overseas shipments of pharmaceuticals, cosmetics and medical devices stood at $21.70 billion last year, up 38.3 percent from the previous year and a fresh high, according to the data from the Korea Health Industry Development Institute. 　The pandemic led to a surge in exports of biopharmaceuticals, coronavi

Business March 18, 2021

　Hong Kong has been removed from an annual index of the world’s freest economies because the think tank that compiles it said the city was now directly controlled by Beijing. 　The announcement is a reputational blow for Hong Kong and comes as Beijing ramps up its bid to quash dissent after huge and sometimes violent pro-democracy demonstrations in 2019. 　The Heritage Foundation, a conservative US think tank, publishes its annual Index of Economic Freedom, ranking countries and terri

World March 17, 2021