South Korea raises alarm for supply shortage in farm products
According to an indicator held by the Korea Agro-Fisheries & Food Trade Corp., wholesale price tags of major field crops showed hikes after the rainfall earlier this week.
Kim Yon-se
South Korea to expand food supply to tame prices ahead of Chuseok
The government has set the goal of pulling down the prices of the 20 items, such as apples and pork, to approach the levels a year earlier, said the ministry.
Wealth transfers to Koreans aged under 30 up 106% in 2021
An average of 170 million won was given to an individual in their 20s, in their teens or those under 10.
South Korea’s growth outlook darkens over poor exports, rising prices
Inflation hit a 24-year high of six per cent in June and Korea is also seeing speculation over revisiting Covid-19 curbs amid a surge in cases.
Tally for economically inactive seniors in South Korea surges 96% since 2002
Korea is projected to become a “superaged” society, whose share of seniors mark 20 percent or over, in two or three years.
Construction of nuclear reactors in Korea to resume in 2024
The plan is a follow-up on the Yoon government’s shift on nuclear power, reversing the declaration made by the previous Moon Jae-in administration to phase out the energy…
Yoon Suk-yeol nullifies nuclear energy phaseout
The new energy policy direction invalidates that of the previous Moon Jae-in administration’s that supported a decade-long project for nuclear power phaseout.
Yoon to carry out deregulations, tax reform to pursue market-oriented economy
Finance Ministry cuts 2022 GDP growth target to 2.6%
South Korea’s bottom 20% households of spend 42% of disposable income on food
This contrasts to households in the top 20 percent income bracket, whose spending on the same food expenses stayed at an average of 13.2 percent of their disposable income.
South Korea to lift tariff on food imports, raise LTV for first home seekers
A core measure is levying a zero quota tariff on ingredients for food, including wheat, flour, cooking oil, processed eggs and pork, until the end of this year.