[Graphic News] Korea ranks 2nd in R&D spending to GDP

Korea ranked second among OECD member countries in terms of R&D spending to GDP with 4.03 percent, according to the OECD Science, Technology and Industry Scoreboard 2013 released last week. The nation also gained a high mark in IT infrastructure, coming second in Internet connection speed and download speed, and fourth in wireless broadband penetration.

TechnologyOct. 27, 2013

[Graphic News] Average marriage cost surpasses W50m

Newlyweds-to-be spend on average more than 50 million won (about $47,000) per person for their wedding, according to a survey conducted by the Korea Consumer Agency. It also showed that they need an average of 272 million won to buy a house and 154 million won for a “jeonse” home lease.

Oct. 23, 2013

[Graphic News] Currency value against U.S. dollar

The Korean currency posted a 6.3 percent appreciation against the U.S. dollar in the third quarter, compared to the previous quarter, according to a report from the Bank of Korea. Korea’s currency appreciation against the U.S. greenback was the second highest after Britain among G20 countries. Market analysts said the nation’s financial soundness boosted the value of the won.

Oct. 22, 2013

[Graphic News] Gender equality budget up 68%

The government plans to spend 22.4 trillion won ($21.1 billion) on gender-related policies next year, up 68 percent from this year, as it steps up efforts to improve women’s status, welfare and safety.

Social AffairsOct. 21, 2013

[Graphic News] Number of college entrants to decline

Due to the decline in the overall number of school goers, the number of those choosing to pursue a university education is also expected to reduce radically. If the fixed quota for newly enrolled students at colleges remains at its 2013 level, it is expected to exceed the number of high school graduates from 2018.

Social AffairsOct. 20, 2013

[Graphic News] Matchmaking marriage age up 2 years from 7 years ago

Matchmaking firm Duo released its survey of 3,000 couples who married for the first time through its service over the past three years. The results showed the average marriage age was two years older and the average income was 12 million won ($11,257) more than in its last survey in 2006.

Social AffairsOct. 17, 2013

[Graphic News] Korea’s imports of foods from Fukushima

Korea has imported 200 tons of agricultural products and processed foods from Fukushima prefecture since the region was devastated by a crippled nuclear power plant in 2011, according to a report by the Ministry of Food and Drug Safety. But the agency said the government has blocked imports of contaminated products after inspection.

Oct. 16, 2013

[Graphic News] 2013 KBO Postseason Schedule

Two Seoul clubs, the LG Twins and the Doosan Bears, will meet in the postseason in the Korea Baseball Organization for the first time since 2000, as Doosan knocked out the No. 3 Nexen Heroes in five games Monday to face LG.

BaseballOct. 15, 2013

[Graphic News] Outlook for smartphone sales

Sales of smartphones in the markets of the United States, China and India are expected to soar until 2018, according to a report from Strategy Analytics. But unlike them, Korea’s smartphone market is forecast to turn negative this year due to market saturation.

TechnologyOct. 14, 2013

[Graphic News] Key industries' outlook for Q4

Korea’s major industries including IT, cars and petrochemicals are forecast to see their business conditions improve in the fourth quarter of this year, according to a report from the Korea Chamber of Commerce and Industries. But the steel and shipbuilding industries are expected to remain in a slump during the period.

Oct. 10, 2013

[Graphic News] IMF lowers global economic growth forecast for next year

The International Monetary Fund lowered its growth estimate for the world economy next year from 3.8 percent to 3.6 percent, saying global growth was still weak and risks remained. It cut the growth forecasts for Korea, China and the United States while raising the estimates for Japan and Britain.

Oct. 9, 2013

[Graphic News] Three Korean firms on list of 100 global innovators

Only three Korean companies ― Samsung Electronics, LG Electronics and LS Industrial System ― were named among the world’s top 100 global innovators, according to an annual study by Thomson Reuters.Korea lagged far behind the United States with 45 companies on the list and Japan with 27 companies.

Oct. 8, 2013

[Graphic News] Arms procurement budget scaled down

The government’s budget plans submitted to the National Assembly on Sunday showed large cuts from the Defense Ministry’s original request in key arms procurement projects, despite North Korea’s growing nuclear and missile threats.

PoliticsOct. 7, 2013

[Graphic News] Korean workforce aging fast

The average age of Korean workers reached 44 this year from 35 in 1970, according to a report from the Bank of Korea released Wednesday. This seems to be affected by an increase of the older generation in the labor market, while there is a decline of younger people.

Oct. 3, 2013

[Graphic News] Richest households earn 10 times more than poorest

According to data from Statistics Korea and the Finance Ministry, Korea’s richest households earned tenfold more than those in the poorest income brackets last year, showing the nation’s wide income gap between the haves and have-nots.

Oct. 2, 2013

[Graphic News] Korean population aging fast

Seniors aged 65 or older made up more than 12 percent of all Koreans this year, raising concerns that the fast-aging population could weigh on the nation’s future economy.

Social AffairsOct. 1, 2013

[Graphic News] Power shortages boost private generators’ sales

Thanks to the nation’s power shortages, the sales income for Korea’s 13 power generators in the private sector has increased by nearly 40 percent annually for the past three years, according to data from the Korea Power Exchange. It is expected that the total sales for this year by private power generators, including SK E&S, POSCO Energy and GS Power, are expected to surpass 12 trillion won ($11.1 billion).

Sept. 30, 2013