Seoul Economic Activities Sluggish
Industrial production in Seoul for the first half of this year was no more than 83% of last years first half.It appears that the unemployment rate in Seoul reached 8.1%, much higher than the national average of 7%.
According to the Korean Chambers of Commerce and Industry on September 24, the industrial production decrease rate (17.1%) was much higher than the nation wide average (9.7%).
The number of bankrupt companies increased by 94.2% to 3,123. Whereas, the number of newly built companies decreased by 21.8%.
The decreased rates of house and rental prices were 13.6% and 26.3% respectively, the highest in the nation.
with the Korea JoongAng Daily
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