Economic news about Italy and South Korea

Dear friends, welcome to the issue n. 10 of the ITCCK Monthly Newsletter
We gladly present you the finest picks from this month's news, along with a report of our events

NEWS OF THE MONTH

Alitalia, together with Malta tourism authority, plan to increase korean tourists in the island

To better promote the beauty of Malta to Koreans, the Malta Tourism Authority held the 2019 Product Seminar together with Italy's flagship carrier Alitalia in Seoul. The goal is to attract over 9,000 korean tourists to the island, doubling the current number. Currently four flights a week are provided by Alitalia from Incheon to Rome and daily flights are provided from Rome to Malta, making this the shortest route to reach this destination.

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Jobless rate is falling each year hitting -3% in August

According to the data compiled by Statistics Korea, The number of employed people reached 27.3 million in August, a rise of 452,000 from the same month in 2018.
Sectors such as the manufacturing sector, each month lose less and less jobs, in August 24,000 jobs were lost in comparison to July when the lost jobs were triple this figure. Also the youth unemployment for those ages 15 to 29 has been falling since last year, hitting 7.2%.

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ITALY - Unemployment falls to 9.9%

According to ISTAT, in Italy unemployment fell to 9.9% in the second quarter of this year, being the lowest quarterly figure since 2011 which at the time was 9.2%. Due to the unemployment rate dropping, the aim for the Italian new Government is to boost growth and help creating jobs, especially for the youth.

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Parmiggiano Reggiano demand gets higher and is set to deliver major revenue shares

The demand for cheese all over the globe is higher each year, especially the demand for Parmiggiano Reggiano. North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Europe and North America markets are witnessing increasing demand for Parmigiano-Reggiano cheese. The growth for this product in the global market is estimated to be significant in the near future.

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