Tough Economy Has Koreans Cashing In Their Coins
luvsmiling, Feb. 26, 2015, 7:59 a.m.
The prolonged recession is prompting Koreans to crack open their piggy banks and use the loose change in their pockets. The Bank of Korea said Wednesday the collection rate for coins stood at over 22 percent last year, rising to US$548 million and the highest since the 2008 global financial crisis.
Meanwhile, the central bank slashed its growth outlook for this year to 3.4 percent, citing sluggish domestic consumption and negative growth in the manufacturing sector.