[Graphic News] Actual unemployment surpasses 3 million

The number of South Koreans without a job, including the underemployed and potential job seekers, surpassed 3 million in April, more than three times higher than the government’s official figure, data showed on Monday.The actual number of unemployed stood at 3.15 million, including people under age 59 who were jobless for no particular reason and those who had part-time jobs but wanted to work longer hours, those who had given up on seeking work, and potential job applicants, according to Statis

May 19, 2014

[Graphic News] Candidates’ average wealth by party affiliation

The ruling Saenuri Party’s metropolitan and provincial chief candidates are on average worth more than double their counterparts from the main opposition New Politics Alliance for Democracy, the election watchdog’s data show. According to the National Election Commission, ruling party candidates for the 17 metropolitan and provincial chiefs’ posts, excluding Seoul mayoral hopeful Chung Mong-joon, have an average wealth of 2.55 billion won ($1.82 million). Chung is the largest shareholder of the

PoliticsMay 18, 2014

[Graphic News] Credit card issues decline

Koreans still have more than three credit cards on average per person, but the number is decreasing, data showed Thursday.The Financial Supervisory Service said that economically active Koreans held an average of 3.9 credit cards per person in 2013. It marked the first time the number slipped below 4 since 2007, when it stood at an average of 3.7. The figure peaked at 4.9 in 2011, before sliding to 4.6 in the following year. The number of credit cards in Korea stood at about 102 million at the e

May 15, 2014

[Graphic News] West Antarctic glaciers collapsing at unstoppable pace, NASA says

Six glaciers in the Amundsen Sea, Antarctica, are in an irreversible retreat, threatening to increase sea levels, according to a new study by NASA. The loss of the entire western part of Antarctica could raise global sea levels by 1.2 meters in the centuries to come, the study suggested. The Amundsen Sea includes some of the biggest and fastest-moving glaciers on Earth, and their retreat is known to be a major driver of global sea-level increases.NASA estimates that the loss of the glaciers in t

TechnologyMay 14, 2014

[Graphic News] Alcohol kills 1 person every 10 seconds worldwide: WHO

Worldwide, 3.3 million deaths in 2012 were due to harmful use of alcohol, says a new report launched by the WHO today. Alcohol consumption can not only lead to dependence but also increases people’s risk of developing more than 200 diseases, including cirrhosis of the liver and some cancers. In addition, harmful drinking can lead to violence and injuries.The report also finds that excessive use of alcohol makes people more susceptible to infectious diseases such as tuberculosis and pneumonia.Som

World NewsMay 13, 2014

[Graphic News] Korea’s per capita GDP ranks 33rd

South Korea’s nominal gross domestic product per capita surpassed $24,000 last year, which was the 33rd highest in the world, according to the International Monetary Fund. This is up from 34th in 2012 and 41st in 2008.The country’s per capita nominal GDP came to $24,329 last year, up from $22,590 in 2012, according to the IMF data compiled by the Ministry of Strategy and Finance.Luxembourg topped the list with $110,423, followed by Norway and Qatar with $100,318 and $100,260, respectively. Switz

TechnologyMay 12, 2014

[Graphic News] Korea ranks low on OECD life satisfaction index

Koreans’ overall life satisfaction has remained at a relatively low level among the 34 member countries surveyed by the Organization for Economic Cooperation and Development.Koreans’ life satisfaction index stood at 6.0 points while the OECD average came to 6.6 points, placing it 25th among the 36 nations surveyed.Residents of Switzerland are the most satisfied with their lives with 7.8 points, followed by Norway, Canada and Denmark, according to the study.Some countries ― Estonia, Greece, Hunga

Social AffairsMay 11, 2014

[Graphic News] North Korean infant mortality surges to 3.3 percent

North Korea’s infant mortality rate topped 33 deaths per 1,000 live births in 2012, a study showed Thursday, reflecting the country’s chronic food shortages and lack of widespread, adequate health care services. The finding resulted from analyzing nutrition surveys conducted jointly by the Pyongyang government and international organizations from 1998-2012. Lee Joung-hee, a professor at Kyonggi University’s graduate school of education in Suwon, Gyeonggi Province, released the work in Review of

North KoreaMay 8, 2014

[Graphic News] Young Koreans’ credit ratings plunge

The credit ratings for Koreans in their teens and 20s rapidly declined after the global financial crisis due to factors including reduced employment and student loan delinquencies, data collected from the Korea Credit Bureau revealed Wednesday.The average credit rating for each age group of 500,000 randomly selected credit users showed that teenagers’ average rating deteriorated from 3.96 in the first quarter of 2008 to 5.44 in Q1 of 2013, according to the Bank of Korea.Ratings for those in thei

May 7, 2014

[Graphic News] Tax burden on basic pension

Korea is expected to face an increasing annual tax burden of some 2 million won per capita by 2040 and about 5 million by 2060 as the country is set to increase its monthly basic pension for those over 65.The National Assembly passed a bill allowing the poorest 70 percent of senior citizens to receive a monthly pension of up to 200,000 won beginning in July. It replaces a benefit that paid out up to 96,000 won a month.This is raising concerns, as Korea is suffering a shortfall in tax revenue and

May 6, 2014

[Graphic News] MERS virus spreading

Saudi health authorities announced Wednesday two new deaths from the MERS coronavirus in the kingdom, where 16 more infections were also detected.The two new MERS deaths in Saudi bring the toll to 107 since the disease appeared in the kingdom in September 2012, the Health Ministry said.Public concern over the spread of MERS mounted earlier this month after the resignation of at least four doctors at Jeddah’s King Fahd Hospital who refused to treat patients for fear of infection. Acting Health Mi

World NewsMay 1, 2014

[Graphic News] Samsung sells more handsets than Apple, LG, Nokia put together

Samsung Electronics sold more handsets than Apple Inc., LG Electronics and Nokia Oyj put together during the first quarter of this year, according to a leading U.S. market research firm. Strategy Analytics said Wednesday that Samsung sold 113 million handsets during the period. Nokia sold 47 million units, followed by Apple with 43.7 million, and LG Electronics with 16.2 million. Huawei Technologies was close on LG’s heels, selling 14.2 million handsets, the research firm said.It also noted that

IndustryApril 30, 2014

[Graphic News] Disputed Territories in Asia

During the U.S. President Barack Obama’s recent state visit to Japan, the U.S. leader sided with the Japanese in a dispute with China over a group of small islands in the East China Sea. Here are other examples of the many territory disputes in the Asia Pacific region.

Foreign AffairsApril 29, 2014

[Graphic News] GDP gap widening between Korea, China

The gap between South Korea and China in terms of gross domestic product appears to be widening, the Bank of Korea said Monday.In 2013, China’s GDP eclipsed that of South Korea by sevenfold, with $9.18 trillion and $1.3 trillion, respectively.A decade earlier, Korea’s GDP was up to 41 percent of China’s, but the gap between the economies widened as China’s economic growth skyrocketed. Since 2003, the Chinese economy is estimated to have grown almost fivefold.At the same time, the GDP gap between

April 28, 2014

[Graphic News] Raising Sewol a Herculean task

Raising the sunken Sewol is likely to be a Herculean task that could take several months to complete. In 2010, it took one month to salvage the Cheonan warship, which was five times smaller than the ferry and broken in two. Four large marine cranes, including a Samsung Heavy Industries moder with a hoisting capacity of 8,000 tons, are currently deployed to the site where the Sewol is submerged. Experts propose using a floating dock to help raise and move the hull.

Social AffairsApril 27, 2014

[Graphic News] Investment in tax havens rises

The amount of money wired by Korean firms to their special purpose companies in tax havens continues to rise, according to data from the Bank of Korea, Thursday.Financial investments in the form of stocks and bonds to locations such as the Cayman Islands, Bermuda, the British Virgin Islands and Labuan (Malaysia) reached $2.66 billion in 2013 — 64.2 percent more than the previous year.　Investments in the Cayman Islands, especially, expanded from $70 million in 2009 to $2.51 billion in 2013.

April 24, 2014

[Graphic News] Sewol was dangerously overloaded

Analyses found that multiple factors, including a sharp change of direction and cargo overload, caused the Sewol to capsize.The Korean Register of Shipping ― the organization that inspected and approved the renovations on the Sewol ― required the ship to maintain higher levels of water in its variable water tanks in order to compensate for the increased center of gravity, though the company neglected to do so, according to inspection data provided by the KRS.

Social AffairsApril 23, 2014

[Graphic News] Ferry did not take sharp turn

The ferry Sewol did not take a sharp turn before it sank, the Ministry of Oceans and Fisheries said Monday after analyzing data recovered from the vessel’s automatic identification system.Since the ship sank last Wednesday in waters off Korea’s southwestern coast, the allegation had prevailed that the ill-fated ship changed direction too sharply when only a gradual change was required, causing the vessel to lose balance and ultimately capsize.Given the “J-shaped” travel route recovered from the

Social AffairsApril 22, 2014

[Graphic News] Korea’s aging coastal liners and their crew

More than two-thirds of the coastal liners operated in Korea were found to be 15 years old or more, according to figures from the Korea Shipping Association on Monday. Out of the 217 vessels tallied as of 2013, 69 were found to be between 15 and 19 years old, while another 67 were found to be more than 20 years old.The poor condition of the liners has come into the spotlight in the aftermath of the Sewol ferry disaster that occurred last Wednesday.The age of the crew also has become a bone of co

April 21, 2014

[Graphic News] Search and rescue operations for submerged ferry

Divers combed the sunken ferry Sewol, retrieving more than a dozen bodies over the weekend.More than 560 divers took turns Sunday entering the ship and searching passenger compartments while 204 Navy, Coast Guard and private vessels. But hopes were fading for any survivors among the hundreds still missing.

Social AffairsApril 20, 2014