Singles Can't Save Enough for Retirement
Some 5.62 million single households in Korea now account for 10.9 percent of the total population, and they have trouble saving enough for a rainy day. Singles believe they ought to save W1.23 million a month to prepare for retirement, but the actual amount they manage to set aside is only around W700,000. The finding comes from a survey of 2,000 one-person households in Seoul and large metropolitan cities by the KB Kookmin Bank in April.
N.Korean Economy 'Worst Since Famine'
Gold Price Hits Record as Investors Flee to Safe Havens
N.Korea Boasts of Opulent Consumer Fair
Senior White House Official to Visit Seoul, Tokyo
Samsung Pushes Subcontractors Amid Japanese Export Curbs
Typhoon Danas to Make Landfall on Saturday
NATIONAL/POLITICS
All Korean Parties Urge Japan to Scrap Export Restrictions
President Moon Jae-in met with the heads of the five main political parties on Thursday to discuss responses to Japanese export curbs on vital IT materials. He called for the country to reduce technological dependency on Japan.
NORTH KOREA
Sanctions Regime Against N.Korea Full of Holes
A veritable fleet of ships are suspected of violating international sanctions against North Korea by transporting North Korean coal or carrying out ship-to-ship transfers of crude oil to the North while exploiting tracking flaws.
BUSINESS
BOK Lowers Interest Rates
The Bank of Korea on Thursday slashed the base interest rate by a quarter percentage point from 1.75 to 1.5 percent. The last time the central bank cut interest rates was in June 2016.