Home > News > Shin hails population milestone
3:12 | 26/06/2012 | 13707

Shin hails population milestone

First vice finance minister shin je yoon warned of serious challenges ahead for the korean economy after the population hit 50 million last saturday, warning against...

Shin hails population milestone

First vice finance minister Shin Je-yoon warned of serious challenges ahead for the Korean economy after the population hit 50 million last Saturday, warning against too much celebration about the population growth. “Reaching a 50 million population is a significant achievement along with the country’s $20,000 per capita gross domestic product”, Shin said at a meeting yesterday. “Korea is the seventh country in the world to attain the two goals of growing both in terms of quantity and quality”, Shin said. Japan was the first to do so in 1987, followed by the United States in 1988, France and Italy in 1990, Germany in 1991 and the United Kingdom in 1996. The vice minister explained it is proven that countries with more than 50 million populations and $20,000 GDP per capita have little difficulty reaching $30,000. But he pointed out possible downsides of the 50 million population era. “Economic vitality will lose steam as the proportion of elderly and single households expand”, Shin said. For businesses, domestic population growth makes it easier to achieve economies of scale. “Domestic companies will have easier access to the global market as they service a bigger domestic market with consumers with more purchasing power”, Shin said. Shin emphasized the importance of fiscal soundness for the economy. “The Korean government should learn a lesson from the Greek crisis and try to keep strengthening our fiscal health”, he said. Kim Jeong-geun, a research fellow at Samsung Economic Research Institute, expressed worries about the possibility of fiscal deficits that could be incurred by increasing government spending on social welfare for the growing population. “Financial burdens on the government will mount as the number of taxpayers decline, while those in need of financial aid increase due to low fertility rates and an aging society”, Kim said. The population hit 40 million in 1984. By Song Su-hyun

How Mister Popo Became A K-Pop Reaction Star [Exclusive Interview]
How Mister Popo Became A K-Pop Reaction Star [Exclusive Interview]

First vice finance minister Shin Je-yoon warned of serious challenges ahead for the Korean economy after the population hit 50 million last Saturday, warning against too much celebration about the population growth. “Reaching a 50 million population is a significant achievement along with the country’s $20,000 per capita gross domestic product”, Shin said at a […]

Lee Jong Hyuk Doesn’t Shy of Participating Variety Shows
Lee Jong Hyuk Doesn’t Shy of Participating Variety Shows

First vice finance minister Shin Je-yoon warned of serious challenges ahead for the Korean economy after the population hit 50 million last Saturday, warning against too much celebration about the population growth. “Reaching a 50 million population is a significant achievement along with the country’s $20,000 per capita gross domestic product”, Shin said at a […]

Secret Door Episode 3 Recap and Screenshots
Secret Door Episode 3 Recap and Screenshots

First vice finance minister Shin Je-yoon warned of serious challenges ahead for the Korean economy after the population hit 50 million last Saturday, warning against too much celebration about the population growth. “Reaching a 50 million population is a significant achievement along with the country’s $20,000 per capita gross domestic product”, Shin said at a […]

Choi Min-sik, Kim Hee-ae and Park Yoo-chun to heat up BIFF
Choi Min-sik, Kim Hee-ae and Park Yoo-chun to heat up BIFF

First vice finance minister Shin Je-yoon warned of serious challenges ahead for the Korean economy after the population hit 50 million last Saturday, warning against too much celebration about the population growth. “Reaching a 50 million population is a significant achievement along with the country’s $20,000 per capita gross domestic product”, Shin said at a […]

[Video] Added new 2nd teaser trailer and posters for the Korean drama “Cantabile Tomorrow”
[Video] Added new 2nd teaser trailer and posters for the Korean drama “Cantabile Tomorrow”

First vice finance minister Shin Je-yoon warned of serious challenges ahead for the Korean economy after the population hit 50 million last Saturday, warning against too much celebration about the population growth. “Reaching a 50 million population is a significant achievement along with the country’s $20,000 per capita gross domestic product”, Shin said at a […]

DON'T MISS

Filmmaker Salima Koroma Talks About 'Bad Rap' Documentary Featuring Jay Park, Dumbfoundead & Other Korean-American Hip-Hop Artists [Exclusive Interview]

Filmmaker Salima Koroma Talks About 'Bad Rap' Documentary Featuring Jay Park, Dumbfoundead & Other Korean-American Hip-Hop Artists [Exclusive Interview]

(Photo : Salima) Is it safe to call you a filmmaker/editor/director extraordinaire? Haha. Extraordinaire? That”s epic! I don”t want to be like Kanye West where I”m...
Acoustic KPO Singer Roy Kim to Release New Album “Home” on October 8

Acoustic KPO Singer Roy Kim to Release New Album “Home” on October 8

Winner of Mnet”s singing competition show Superstar K Season 4 returns with the second studio album in this fall Roy Kim, the Winner of Mnet”s singing competition show...
WINNER ask fans to like their Facebook page for unrevealed photos

WINNER ask fans to like their Facebook page for unrevealed photos

WINNER have asked fans to like their official Facebook page for extra eye candy. In a new video, the boys of WINNER got together to remind fans to give their page a like....
Kang Gary returns to Singapore this October for solo showcase ft. Jung-In

Kang Gary returns to Singapore this October for solo showcase ft. Jung-In

Singapore’s favourite South Korean rapper-cum-entertainer Kang Gary will be back for his very own solo showcase! And this time round, he will be performing alongside power...
Huh Gak to collaborate with an artist for new digital single “DAY N NIGHT”

Huh Gak to collaborate with an artist for new digital single “DAY N NIGHT”

Huh Gak will be releasing new digital single next month! On September 30th, A Cube Entertainment unveiled the first teaser image implying the loneliness with bare trees...
Lee Jong Hyuk Doesn’t Shy of Participating Variety Shows

Lee Jong Hyuk Doesn’t Shy of Participating Variety Shows

While some celebrities are shy of participating in reality television programs because these programs remain potential factor that may have bad effect on the image they...
g.o.d to hold their reunion concert in Los Angeles and New Jersey this November

g.o.d to hold their reunion concert in Los Angeles and New Jersey this November

g.o.d will head to the United States with their reunion concert this November. According to SidusHQ, g.o.d will launch their “god 15th Anniversary Reunion Concert” in...
Jo Dong Hyuk Reduce 5kg Weight for “Bad Guys” Role

Jo Dong Hyuk Reduce 5kg Weight for “Bad Guys” Role

  The upcoming OCN’s drama “Bad Guys” has released its two first stills of star Jo Dong Hyuk. In order to meet the requirement of the character, Jung Tae Soo, the...
The 6th DMZ Documentary Film Festival

The 6th DMZ Documentary Film Festival

Source: hangukyeonghwa We are so eager to announce that the 6th DMZ Documentary Film Festival is started from September 17th to 24th in the suburban city of Ilsan, Gyeonggi...
Crayon Pop”s twins unit Strawberry Milk to release 1st mini album “Explode” on October 15th

Crayon Pop”s twins unit Strawberry Milk to release 1st mini album “Explode” on October 15th

Strawberry Milk will make their debut with 1st mini album “Explode”. There are 4 songs in the mini album includes “Let Me Know”, “Hello”, “Feel So Good”...
[SM OFFICIAL] Girls’ Generation continues with 8 members; Jessica on solo activities

[SM OFFICIAL] Girls’ Generation continues with 8 members; Jessica on solo activities

According to the representative of SM Entertainment, “This Spring, Jessica has notified the company that due to the personal matter she would like to stop her team activities...
“The TaeTiSeo” to be extended with one more episode

“The TaeTiSeo” to be extended with one more episode

To all the fans of “The TaeTiSeo”, the show has been confirmed to have one more extended episode. On September 30th, a rep from OnStyle said,”Because of the good reviews...
SoulStar Profile

SoulStar Profile

Group name: Soul Star (소울스타) Label: NAP entertainment Music Genre: R&B, Soul Debut year: 2005 MEMBER PROFILE Real name: Lee Chang Geun (이창근) Birthdate: August...
Seungri readmitted to hospital due to high fever + to miss “Incheon Asian Game” closing ceremony

Seungri readmitted to hospital due to high fever + to miss “Incheon Asian Game” closing ceremony

Big Bang”s Seungri was revealed to have been readmitted to hospital due to high fever. According to YG Entertainment on September 30th that after being discharged from...
Seo Taiji announces release of record

Seo Taiji announces release of record

K-pop music icon Seo Taiji, 42, whose heyday was in the early 1990s, confirmed yesterday that he will release his next album on Oct. 20, according to local media. The precise...
#StayStrongSNSD trends first on Twitter

#StayStrongSNSD trends first on Twitter

 Jessica dropped a bomb through her Weibo earlier today mentioning that she won”t be able to continue activities as a member of Girls” Generation. Girls” Generation”s...
Nomination for inspiring moments of the week

Nomination for inspiring moments of the week

K-dramaland has just closed the last week and started a new week of exhilarating episode from some of the current pamper shows. Here are top 10 nominations for moments of...
LUNAFLY celebrate their 2nd anniversary with a tribute song for fans

LUNAFLY celebrate their 2nd anniversary with a tribute song for fans

On September 27th, LUNAFLY released a special track “Thank You” as a present for fans on celebrating LUNAFLY”s 2nd-year anniversary. “Thank You” is an English...
Happy birthday to F.CUZ”s Kan

Happy birthday to F.CUZ”s Kan

Stage Name: Kan Birth Name: Choi Yeong Hak Nickname: Dancing Machine of F.Cuz Birthday: September 30, 1991 Label: CAN entertainment Group: F.CUZ Position: Vocalist and Main...
[Video] Added Korean drama “Discovery of Romance” episode 13

[Video] Added Korean drama “Discovery of Romance” episode 13

Added episode 13 for the Korean drama “Discovery of Romance” Watch on DramaFever “Discovery of Romance” (2014) Directed by Kim Seong-yoon, Lee Eung-bok Written by...