Articles by Nam Kyung-don
Nam Kyung-don
don@heraldcorp.com-
[Graphic News] Overseas card spending down 14.8% in Q3 on weak won
South Koreans’ overseas card spending declined 14.8 percent in the third quarter from three months earlier as the government tightened rules on withdrawals of money from automatic teller machines and the won depreciated against the dollar, central bank data showed. According to the data by the Bank of Korea, the amount of money spent overseas by South Koreans with cards, including credit and debit cards, came to $2.88 billion in the July-September period, down from $3.37 billion
Business Dec. 16, 2021
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[Graphic News] More than third of world has never used internet: UN
Some 2.9 billion people - 37 percent of the world’s population - have still never used the internet, the United Nations said, despite the COVID-19 pandemic driving people online. The UN’s International Telecommunication Union estimated that 96 percent of those 2.9 billion live in developing countries. The agency said the estimated number of people who have gone online rose from 4.1 billion in 2019 to 4.9 billion this year, partially due to a “COVID connectivity boost.&rdq
World Dec. 15, 2021
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[Graphic News] Korea’s whisky imports jump over 70% this year
South Korea’s imports of whisky soared more than 70 percent in the first 10 months of the year as more people drank at home amid the coronavirus pandemic, data showed. The value of whisky imports came to $93.21 million in the January-October period, up 73.1 percent from a year earlier, according to the data from the Korea Customs Service and the local liquor industry. It represents the first on-year increase in the country’s whisky imports since 2014. Industry sources attribu
Business Dec. 14, 2021
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[Graphic News] S. Korea’s total population to fall for first time this year
South Korea’s total population is expected to record its first decline this year, the statistics agency said, a grim assessment of its demographic situations amid the country’s chronically low birthrate, rapid aging and a decline in incoming foreigners during the pandemic. The country’s total population is estimated to have peaked at 51.84 million last year before falling to an estimated 51.75 million this year and an estimated 37.7 million in 2070, according to the latest
National Dec. 13, 2021
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[Graphic News] Imports of golf equipment at record high in first 10 months of this year
South Korea’s imports of golf equipment rose to a record high in the first 10 months of this year on the back of strong demand amid the pandemic, customs data showed. The imports of golf clubs and other related equipment reached $601 million in the January-October period, up 29.3 percent from the previous year, according to data from the Korea Customs Service. The reading hit an all-time high for any first 10-month period of the year. It was also higher than the yearly imports of gol
Business Dec. 10, 2021
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[Interactive] Internet banking users reach record high in H1
South Korea's internet banking services continued to grow in the first half of the year, with the number of users and daily transactions rising to new highs, central bank data showed. The number of internet banking users, including mobile banking, came to 186.5 million as of end-June, up 5.6 percent from six months earlier, according to the data from the Bank of Korea. The figure is the simple sum of all registered users of 18 internet and mobile banking service providers in the country, meani
Economy Dec. 9, 2021
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[Graphic News] 1 in 6 S. Korean women quit jobs after marriage
More than 1 in 6 South Korean married women suffered a career break this year, quitting their jobs due to child rearing and getting married, data showed. The number of women aged 15-54 who have stopped working after marriage reached 1.45 million in April, down 3.8 percent, or 57,000, from the previous year, according to data from Statistics Korea. These women accounted for 17.4 percent of the total 8.32 million married women here, down from 17.6 percent a year earlier. The 2021 tally was
National Dec. 9, 2021
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[Graphic News] Tel Aviv ranked world’s priciest city for first time
Tel Aviv is the world’s most expensive city to live in, as soaring inflation has pushed up living costs globally, according to a survey. The Israeli city climbed five rungs to top the list for the first time in the authoritative ranking compiled by the Economist Intelligence Unit. The Worldwide Cost of Living Index is compiled by comparing prices in US dollars for goods and services in 173 cities. Tel Aviv climbed the rankings partly due to the strength of the national
World Dec. 8, 2021
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[Graphic News] S. Korea’s employment rate of university grads ranks low among OECD: report
South Korea ranks low among members of the Organization for Economic Cooperation and Development in terms of the employment rate for university graduates due mainly to a severe mismatch between their majors and job openings, a report showed. The employment rate for South Koreans aged 25-34 with university diplomas came to 75.2 percent in 2020, 31st lowest among 37 comparable OECD member countries, according to the report from the Korea Economic Research Institute. The figure is much lower
World Dec. 7, 2021
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[Graphic News] No. of Koreans with assets over W1b climbs 10%
Amid liquidity-driven booms in the real estate and stock markets during the COVID-19 pandemic, the number of people with assets of more than 1 billion won ($838,000) increased by over 10 percent last year from a year earlier, a report showed. The number of Koreans with financial assets worth over 1 billion won stood at 390,000 last year, taking up 0.76 percent of the total population, according to the Korea Wealth Report 2021 released by KB Financial Group Research Institute. The lat
Business Dec. 6, 2021
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[Graphic News] S. Korea’s 2021 rice output rises for first time in 6 years
South Korea’s rice output rose for the first time in six years due mainly to favorable weather conditions and an increase in the cultivation area, data showed. The country’s rice production reached 3.88 million metric tons in 2021, up 10.7 percent from a record low of 3.51 million tons the previous year, according to the data compiled by Statistics Korea. It marked the first rebound since 2015 when rice output rose 2 percent on-year to 4.33 million tons. The figure declined for
National Dec. 3, 2021
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[Graphic News] Korea’s birthrate hits record low in September
The number of babies born in South Korea fell to a record low in September, data showed, underscoring the country’s bleak demographic situation with the chronically low birthrate. A total of 21,920 babies were born in September, down 6.7 percent from the previous year, according to data compiled by Statistics Korea. It marked the lowest for any September since 1981, when the statistics agency began compiling related data. In the third quarter, the number of newborns also reached an
Social Affairs Dec. 2, 2021
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[Graphic News] S. Korea’s EV sales nearly double this year, 7th-largest worldwide
Sales of electric vehicles in South Korea almost doubled in the first three quarters of this year from a year earlier, ranking seventh in the world, data showed. A total of 71,006 EVs were sold in Asia’s fourth-largest economy in the January-September period, up 96 percent from a year earlier, according to the data from the Korea Automotive Technology Institute. The figure was the seventh-largest in the world. China sold the largest number of EVs with 1.76 million units in the nine-m
World Business Dec. 1, 2021
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[Interactive] S. Korea top Asian country in global innovation rankings
South Korea has clinched the top spot in Asia in a United Nations agency’s global innovation rankings, coming in fifth globally. In the World Intellectual Property Organization’s Global Innovation Index 2021, Korea was ahead of Singapore, Japan and China. It was behind Switzerland, Sweden, the United States and the United Kingdom. Korea, Asia’s fourth-biggest economy, was in 10th place last year. (Yonhap) By Nam Kyung-don
Economy Nov. 30, 2021
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[Graphic News] South Korea’s household debt-GDP ratio highest worldwide: report
South Korea has the highest ratio of household debt to gross domestic product among major economies in the world, a report showed, indicating it could crimp consumption and weigh on the economy down the road. The country’s household debt stood at 104.2 percent of its GDP as of end-June this year, the highest among 37 economies, according to the report by the Institute of International Finance. Hong Kong came next with 92 percent, followed by Britain with 89.4 percent, the United Stat
Business Nov. 30, 2021
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