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Korea’s Household Savings Rate Falls
do you receive from your parents? And how much do you
? Saving money is important for the future. However, a
report showed that Koreans don’t save much money.
According to the report by the OECD (Organization for Economic Cooperation and Development)경제협력개발기구, South Korea’s
rate stood at 2.8 percent last year. It is much lower than the
OECD member countries’
of 6.1 percent. South Korea’s savings rate was
at its peak
s ago at 25.9 percent.
However, it continued to
and in 2009, the nation’s savings rate was the fifth lowest among 20 OECD
cost of living
reasons for the low savings rate. Savings are important to
our economy. Therefore, low savings rate has
s both on each
Q. What is important for the future?
Q. What did South Korea’s savings rate stand at last year?
Q. What is the average OECD member countries savings rate?
Q. When was South Korea’s savings rate at its peak?
Q. What are the main reasons for the low savings rate?