The Korea Development Institute (KDI) halved its 2025 economic growth outlook for the country to 0.8 percent from 1.6 percent in just three months, the first sub-1 percent projection by any major domestic research body for this year.
Spending on both dining out and eating at home dropped for the first time since the collection of relevant data started in 2005.
Korean incomes rose in the fourth quarter of 2024, but spending lagged due to inflation and economic sentiment.
President Yoon is embarrassed that PPP leader Han Dong-hoon publicly demanded that the president drastically change his unilateral governance style and apologize for all the controversies over the first lady.
Korea's retail sales continued to decrease for 2 and a half years, led by weak demand across durable and nondurable goods, government data showed Sunday.
The Finance Ministry has said that the economy is showing signs of recovery on the back of imports, while domestic demand is also appearing to improve.
The government must first correct Trump and set the record straight.
Amid distress from soaring prices, Koreans are worried after former U.S. President Donald Trump called Korea “a very rich country” and said he would demand even more defense cost-sharing from the country if he is re-elected president.
It’s official. Korea’s total fertility rate — the average number of expected births from a woman in her lifetime — hit a fresh historic low of 0.72 last year by sinking from the previous record of 0.78. The number of newborns also fell below...
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