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Finance

Economy

Tue, January 25, 2022 | 04:09

Extra budget feared to lead to rate hikes, inflation, burdening vulnerable

The government is drawing up another 14 trillion won ($11.7 billion) budget to support small business owners afflicted by the COVID-19 pandemic, but ironically, it is feared that the extra budget will add yet more of a burden to affected households and businesses, as the situation is set to trigger a rise in lending rates as well as consumer prices.

Kim Bo-eun | 2022-01-24 16:46

Number of 'discouraged workers' in Korea hits new high in 2021

The number of “discouraged workers” in Korea touched a fresh all-time high in 2021 due to a weak job market amid the prolonged coronavirus pandemic, government data showed Monday.

2022-01-24 10:04

External risks weigh on Korea's economic recovery

The Korean economy is off to a rocky start in 2022. Asia's fourth-largest economy faces multiple downside risks - including China's economic slowdown and U.S. inflation - which are rattling the financial markets and fueling concerns over a full-fledged recovery.

Yi Whan-woo | 2022-01-21 17:06

Gov't to increase beef, pork supplies ahead of Lunar New Year holiday to tame inflation

The government plans to increase the supply of beef and pork by around 50 percent year-on-year ahead of the Lunar New Year holiday in an effort to help stabilize consumer prices, a senior official said Friday.

2022-01-21 16:17

Korea proposes W14 tril. extra budget to support pandemic-hit merchants

The government proposed an additional extra budget of 14 trillion won ($11.8 billion) Friday to support small merchants hit hard by the COVID-19 pandemic amid extended virus curbs.

2022-01-21 10:39

More people place hopes on lottery tickets as pandemic drags on

Kim Sun-jin, 20, has been buying a lottery ticket each month, ever since she was let go from her part-time job at an eatery in Seoul in 2020 when the COVID-19 pandemic was tanking the country's job market.

Lee Kyung-min | 2022-01-20 16:15

Residents' foreign currency deposits decline in December

Foreign currency deposits at banks here declined in December as companies reduced foreign currency holdings for investment, Bank of Korea data showed Thursday.

2022-01-20 14:10

OECD leading index for Korea drops for 5th month in December

A leading economic index for Korea fell for the fifth consecutive month in December, pointing to a slowdown in Asia's No. 4 economy down the road, data showed Thursday.

2022-01-20 09:47

[Contribution] Korea's growth prospects optimistic, despite inflation, rising debt

Korea's handling of the pandemic and policy response have been one of the best in the world. The effective measures have both minimized the loss of lives as well as economic damage.

Lee Kyung-min | 2022-01-19 16:23

Populist pledges fuel concerns over already-snowballing gov't debt

The presidential candidates are pledging to give more cash handouts to people affected by the pandemic, fueling concerns that the country's debt may exceed the 1,060 trillion won ($893.8 billion) estimated for this year. The amount of national debt projected by the Ministry of Economy and Finance is record-high, with the government planning to draw up a supplementary budget w...

Yi Whan-woo | 2022-01-18 16:44

Lee, Yoon in neck-and-neck presidential race

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