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1 in 4 born in early 1970s financially supports parents and children: survey

Koreans born in the early 1970s bear a “triple burden,” juggling financial support for their parents and children while worrying about their own retirement, a survey revealed Thursday. Among those born between 1970 and 1974, seven out of 10 financially support their children, and four out of 10 support their own parents or those of their spouses. One in four supports both generations, spending an average of 1.55 million won ($1,114) per month. They allocate 1.07 million won ($768

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												6 hours ago											Seoul to explore supporting children born outside of marriage: Yoon's office
												
													The South Korean government will explore measures to bolster support for children born to unmarried parents, the presidential office said Thursday, as the issue has drawn heightened attention following the news that actor Jung Woo-sung and model Moon Ga-bi, announced that they plan to raise their child without marrying each other. "Ultimately, I believe there are aspects such as discrimination in society and issues that cannot be fully addressed by existing policies," a senior presiden												
												
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												9 hours ago											South Korea: Children’s Coat from Temu Contained 622 Times The Legal Limit for Toxins
												
													South Korea: Children’s Coat from Temu Contained 622 Times The Legal Limit for Toxins  Sourcing Journal												
												
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												27 hours ago											Lotte Group to provide Lotte World Tower as collateral for Lotte Chemical amid liquidity woes
												
													Lotte Group, one of South Korea's largest conglomerates, said Wednesday it will provide Lotte World Tower in Seoul as collateral for the corporate bonds of its financially-strapped chemical unit in an effort to address market concerns about a potential liquidity crisis. In a regulatory filing, the group said it will use the 123-story supertall skyscraper, one of its key assets worth 6 trillion won ($4.31 billion), as additional collateral for bonds issued by Lotte Chemical Corp. A bondholde												
												
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												30 hours ago											[Global Finance Awards] Kakao Bank bolsters SE Asia foray with Superbank partnership
												
													Kakao Bank, a major online lender in Korea, is bolstering its presence in Southeast Asia with reinforced partnerships with Indonesian digital bank Superbank. The bank on Wednesday announced it has signed a contract to collaborate on developing new financial products with Superbank, a digital bank in which Kakao Bank is one of the major shareholders. According to the new contract, Kakao Bank will provide consulting for Superbank’s new financial products, leveraging its expertise in mobile												
												
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												30 hours ago											[Global Finance Awards] Kyobo Life enhances insurance coverage for cancer, long
												
													Kyobo Life Insurance, one of Korea’s leading life insurers, has launched a new life insurance plan that combines the benefits of whole life insurance with added lifetime protection for cancer and long-term care. The “Kyobo Cancer and Whole Life Care Insurance” provides financial support for policyholders diagnosed with cancer or requiring long-term care. During the premium payment period, the plan guarantees a full refund of premiums paid under the main contract, while waiving												
												
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												30 hours ago											[Global Finance Awards] Hana Bank supports SME workers with special savings account
												
													Hana Financial Group recently hosted a ceremony with the Korean Ministry of SMEs and Startups to celebrate surpassing 10,000 holders of its savings accounts tailored for small and medium-sized enterprise workers. Late last month, Hana Bank launched a savings program in collaboration with the ministry to support the growth of SMEs by helping their employees build a nest egg and encouraging longer tenures with their companies. Employees who deposit at least 100,000 won ($71.6) per month can receiv												
												
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												30 hours ago											[Global Finance Awards] JB Financial, buoyed by upbeat earnings, readies for big leap
												
													JB Financial Group is seeking another big leap under Chairman Kim Ki-hong who has recently been reappointed for the third term for his leadership in elevating the group’s financial stability and profitability. In the third quarter of this year, its return on equity reached 14.7 percent, reflecting a 2.6 percentage-point increase on-year. The company highlighted this as the highest ROE ratio among domestic financial holding companies, surpassing the double-digit target often regarded as a b												
												
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												32 hours ago											Trump presidency could be opportunity for Korea as arms exporter: minister
												
													GWACHEON, Gyeonggi Province -- South Korea’s defense acquisition minister said the upcoming US administration under returning President Donald Trump could be an opportunity for the country’s defense industry. Seok Jong-gun, who heads the Defense Acquisition Program Administration in charge of arms exports, told reporters Tuesday that Trump decreasing support to US allies could open up a new market for South Korean defense companies to explore. The minister said he sees Trump presiden												
												
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