March 02, 2021 13:28 Half of Koreans have college or higher degrees for the first time in the country's history. According to the national education index released by the Education Ministry on Feb. 26, 50 percent of Koreans aged 25-64 had completed higher education as of 2019. The proportion was barely more than 10 percent as recently as the 1990s. But it started to increase as more colleges and universities opened with eased restrictions in 1995, rising to 23.8 percent in 2000 and more than doubling to 50 percent in 2019. Korea is among the top-ranked countries in terms of the proportion of adults aged 25-64 with college or higher degrees, coming in fifth among the 38 OECD member nations, whose average was 39 percent. It is outpaced by Canada (59.4 percent) and Japan (52.7 percent). Korea came in second with a whopping 69.8 percent only after Ireland (70 percent) in the category of young people aged 25-34 with higher degrees, compared to the OECD average of 45 ... » Learn More about Half of Koreans Have College or Higher Degrees
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Mobile sector senses big growth opportunities in China
Sun Juanjuan, a white-collar worker in Shanghai, had been using an iPhone X for more than three years before buying an iPhone 12 immediately after Apple Inc unveiled its first smartphones with 5G connectivity in October. "I have been waiting for Apple's 5G smartphone for a long time. When the iPhone 12 was unveiled, I decided to buy one immediately. I love the green color so much," Sun said. Consumers like Sun are pushing sales of Apple to new highs in China. The United States tech giant raked in its highest ever revenue in China in the fourth quarter, driven by the popularity of its iPhone 12 series. Apple said its China revenue came in at $21.31 billion in the three months ended Dec 26, up 57 percent from a year earlier. Apple CEO Tim Cook attributed the strong performance to "more than an iPhone story", adding that its other products also contributed a lot, but he also highlighted that the iPhone 12 was crucial in fueling phone upgrades. "China had a record number of ... » Learn More about Mobile sector senses big growth opportunities in China
E-learning set to ‘take a big leap forward’
Study-from-home routines spark demand for quality education online Time was ticking, the day's deadline was just an hour away, but Tang Zhumei, an accountant and a 39-year-old mother from Beijing, suddenly stopped auditing dozens of financial statements that piled up on her desktop. Upon receiving a pop-up notification, she reached for her smartphone and, in a jiffy, bought an online English-language course for her 11-year-old daughter. The 60-session course set her back by 9,000 yuan ($1,389), paid via WeChat Pay, but Tang said she believes it's worth every fen of the money spent. In China, online consumption as part of the national consumption upgrade can take many forms. Top-quality education is par for the COVID-19-era online shopping course as study-from-home regimen is part of the new normal. And parents tend to vie for the best e-learning programs for their children, which are considered few and far between. Demand outstrips supply, and market forces could send prices ... » Learn More about E-learning set to ‘take a big leap forward’
Nio’s Q1 sales to surge 400% year-on-year
China's leading electric car startup Nio said its sales in the first quarter this year would reach 20,000, which would be more than five times the figure in the same period last year. Nio gave the estimate on Tuesday when it released its financial statement for the year 2020, in which it delivered 43,728 vehicles. In the first two months of the year, its combined sales totaled over 12,000 vehicles. "Supported by competitive product offerings, outstanding services and innovative business models, we have won increasing recognition from our users," said Nio Chairman and CEO William Li. Due to the COVID-19 pandemic, Nio sold only 3,838 vehicles in the first quarter last year. But its sales rose as the pandemic was under control in China and a government fund in Hefei, Anhui province, decided to invest in the company. Nio's total revenue in the year hit $2.49 billion, up 107.8 percent year-on-year, and the gross profit was $287 million. It was the first year for the startup to see ... » Learn More about Nio’s Q1 sales to surge 400% year-on-year
Nestlé keen to expand rural footprint
Amid subdued growth in the urban markets, Nestlé India is looking to aggressively expand its footprint in the rural markets, with a target to reach 1,20,000 villages in the next 2-3 years, bolstered by targeted products as well as campaigns, Suresh Narayanan, Chairman and Managing Director, Nestlé India said. Speaking to select mediapersons, Mr. Narayanan said for the next few quarters, the rural market is expected to continue to outpace urban markets in terms of growth. The company had taken steps in the last 2-3 years to enhance the rural footprint and the number stood at 89,000 villages in 2019, from 1,000 villages in 2017, he added. “The target that we have got is to reach 1,20,000 villages — that is all villages with a population of more than 5,000. That is the kind of reach we are looking to establish in the next 2-3 years. There is a very strong determination as far as expanding our rural footprint is concerned,” Mr. Narayanan said. The company, for which currently a third ... » Learn More about Nestlé keen to expand rural footprint
China’s banking, insurance sector contributes to economic recovery amid epidemic
Video Player Close BEIJING, March 2 (Xinhua) -- China's banking and insurance sector has taken a slew of measures to buoy the recovery of the country's economy amid COVID-19 disruptions, an official said on Tuesday. By the end of 2020, outstanding RMB loans increased by 19.6 trillion yuan (about 3.03 trillion U.S. dollars) over the beginning of the year, and 6.6 trillion yuan of loans had been extended, said Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, at a press conference. Last year, new loans to the manufacturing sector stood at 2.2 trillion yuan, exceeding the total amount of the previous five years, while new loans to private enterprises totaled 5.7 trillion yuan, 1.5 trillion yuan more than in 2019, said Guo. A total of 292.1 billion yuan was paid to cover health-insurance claims last year, jumping 24.2 percent year on year, and 1.57 trillion yuan of long-term health-insurance risk reserve was accumulated. China's banking sector ... » Learn More about China’s banking, insurance sector contributes to economic recovery amid epidemic
Xinhua Headlines: A tale of vanquishing poverty from southwest China
Video Player Close -- Southwest China's Wumeng Mountains span over 100,000 square km in the provinces of Yunnan, Guizhou and Sichuan. Most residents were marred by poverty, with their per capita income only a quarter of those living in the eastern coastal areas. -- The days of destitution are now over. Thanks to China's poverty alleviation efforts, the locals have bidden farewell to penury with their hometowns undergoing dramatic transformations. KUNMING, March 2 (Xinhua) -- The hinterland in southwest China's Wumeng Mountains had long been pauperized by a hostile environment, with more than 30 million people inhabiting the region reeling under treacherous terrain and water scarcity. The mountain ranges span over 100,000 square km in the provinces of Yunnan, Guizhou and Sichuan. Most residents were marred by poverty, with their per capita income only a quarter of those living in the eastern coastal areas. However, the days of destitution are now over. Thanks to ... » Learn More about Xinhua Headlines: A tale of vanquishing poverty from southwest China
Measures proposed to handle student sleep shortfall
Lack of sleep among children and teenagers in China has worsened in the past decade, with more than 80 percent getting insufficient sleep on school days, a new report has found. Chinese youngsters snooze 7.8 hours a night on average on school days, down 0.3 hours from 2009, according to the report released on Monday by the Chinese Academy of Sciences' Institute of Psychology. Researchers surveyed more than 15,800 students from Henan, Hebei and Guangdong provinces from April to July, asking what time they go to bed and wake up on days they take offline classes on campus. Only 46.4 percent of them sleep for at least 8 hours, compared with 47.4 percent in 2009. According to an action plan laying out measures to be taken from 2019 to 2030 to promote the health of citizens, primary school students are recommended to get a minimum of 10 hours of sleep a night. For junior high school and senior high school students, the recommended sleep durations per night are 9 and 8 hours ... » Learn More about Measures proposed to handle student sleep shortfall
Can sexual intimacy between a live-in couple be termed as rape, asks SC
New Delhi: The Supreme Court, while examining the issue of consensual sex between a couple living together, has sought to know whether sexual intercourse between them can be termed as ‘rape.’ The top court also stayed the arrest of a man accused of raping his former partner for eight weeks and said that the trial court will decide on the question of the liberty of the petitioners in the case. A bench headed by Chief Justice SA Bobde and comprising Justices AS Bopanna and V Ramasubramanian said, "If a couple is living together as man and wife...the husband may be brutal, but could the sexual intercourse between the couple, who are living together, can be termed as rape?" The top court made these observations while hearing a plea of a person accused of rape by a woman, who had been in a live-in relationship with him for over two years. The woman had filed an FIR for rape after the man married another woman. Senior advocate Vibha Dutta Makhija, representing the accused, ... » Learn More about Can sexual intimacy between a live-in couple be termed as rape, asks SC
Facebook to pay $650 M over US privacy dispute
Social media giant was sued for illegally collecting biometric data to identify faces, violating a 2008 Illinois privacy law WASHINGTON A US federal judge has given final approval to Facebook’s $650 million payment to settle a privacy dispute between the social media giant and 1.6 million users in the state of Illinois. Last week, TikTok’s Chinese parent company ByteDance agreed to pay $92 million in a settlement to US users who were part of a class-action lawsuit alleging that the video-sharing app failed to get their consent to collect data in violation of the strict Illinois privacy law. “We are pleased to have reached a settlement so we can move past this matter, which is in the best interest of our community and our shareholders,” a Facebook spokesperson said in a statement. The decision was issued on Friday, according to documents. Chicago attorney Jay Edelson sued Facebook in 2015, alleging it illegally collected biometric data to identify faces in ... » Learn More about Facebook to pay $650 M over US privacy dispute