Retail sale volume of food products in Korea shrank for the second year in a row in 2023, down 2.6 percent on year, according to Statistics Korea, Bank of Korea and Small Enterprise And Market Service.
Localities with shrinking populations are trying to attract nonresidents with purchasing power, focusing on frequent visitors and transient populations who can boost the local economy.
Korea's private spending in the third quarter grew at a far slower pace than that of Group of Seven (G7) countries due to high interest rates and inflation, data showed Monday.
If the government keeps up the principle of “support without intervention” for the science and technology field, K-science and technology will prosper.
The Defense Ministry announced a five-year plan focused on improving the South Korean defense system, particularly centered on its three-axis defense strategy of Kill Chain, Korea Air and Missile Defense and Korea Massive Punishment and Retaliation.
In an alarming development, consumer prices rose 3.8 percent on year in October.
The summer vacation season has arrived amid torrential downpours and monsoons, but domestic demand is yet to overcome recent hurdles including knife incidents, sweltering heat and the resurgence of Covid-19 that are all weighing on summer spending.
The total amount of approved card transactions in the second quarter rose 4.1 percent, led by a recovery in travel and leisure activities.
Industrial output, private spending and investment in Korea rose for a second consecutive month in June, Statistics Korea data showed Friday. The country's industrial output increased 0.1 percent in June from a month earlier but the growth slowed...
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