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Finance

Economy

Mon, March 30, 2020 | 16:01

Real economy showing signs of falling apart

Real economy showing signs of falling apart

The impact of the continuing spread of the novel coronavirus worldwide is sinking in for Korean firms, which are filing for payroll subsidies after seeing their earnings worsen in recent months.

Kim Bo-eun | 2020-03-30 15:20

Gangnam apartment prices jump 84 times in 40 years

Gangnam apartment prices jump 84 times in 40 years

The price of apartments in the affluent district of Gangnam in southern Seoul has risen more than 80 times over the last 40 years, growing far faster than basic living costs, such as rice, data showed, Sunday. According to data from the Hana Institute of Finance, the price per 3.3 square meters of an Eunma Apartment in southern Seoul came to 64.67 million won in 2020, 83.5 ti...

Kim Bo-eun | 2020-03-29 15:47

[INTERVIEW] Harvard economist warns Korea against cash handouts

[INTERVIEW] Harvard economist warns Korea against cash handouts

Harvard University economics professor Robert Barro advised the Moon Jae-in administration against giving a “disaster payout” to all Koreans, amid growing controversy here over a universal basic income in response to the fallout of the coronavirus pandemic.

Park Jae-hyuk | 2020-03-29 15:22

S. Korea to give W1 million to 14 million low-income households

A US recession? Probably. Depression? Only if the virus is untamed

A US recession? Probably. Depression? Only if the virus is untamed

A U.S. recession may already be underway. Could it be worse?The Great Depression that began with a stock market crash in 1929 and lasted until 1933 scarred a generation with massive unemployment and plummeting economic output.

2020-03-28 20:43

Consumer sentiment plummets due to virus spread

Consumer sentiment plummets due to virus spread

Korea's consumer confidence plummeted to the lowest level in a decade due to collapsing economic conditions amid the spread of the novel coronavirus, central bank data showed Friday.

Lee Kyung-min | 2020-03-27 16:40

Market unresponsive to BOK's move for quantitative easing

Coronavirus to hit tourism in Asia-Pacific: report

Coronavirus to hit tourism in Asia-Pacific: report

The outbreak of the new coronavirus is feared to hit tourism in the Asia-Pacific and cause the regional number of tourists to dip more than 10 percent this year, a report said Friday. Asia-Pacific countries are likely to see their combined number of tourist arrivals drop 9 to 12 percent in 2020, bearing the brunt of the fallout from the COVID-19 outbreak, according to the rep...

2020-03-27 13:40

Korean economy on course toward recession

Korean economy on course toward recession

Korea is feared to slip into a recession as the fast-spreading COVID-19 outbreak becomes a global pandemic, in what economists say signals the clear end of a decade-long cyclical economic expansion that is set to pound Asia's fourth-largest economy. The much-dreaded recession, defined by at least two consecutive quarters of economic contraction, is increasingly becoming a rea...

Lee Kyung-min | 2020-03-24 16:00

[INTERVIEW]'Coronavirus will give us R word in 2020'

[INTERVIEW]'Coronavirus will give us R word in 2020'

The possibility of a global recession was raised by economists a few years ago, following the decade of economic expansion that unfolded after the 2008 financial crisis. The likelihood of a China-triggered recession appears to have grown after the coronavirus outbreak in the world's second-largest economy and its ongoing spread to economies worldwide.

Kim Bo-eun | 2020-03-23 16:33

Global economy already in recession on coronavirus devastation: poll

Global economy already in recession on coronavirus devastation: poll

The global economy is already in a recession as the hit to economic activity from the coronavirus pandemic has become more widespread, according to economists polled by Reuters amid a raft of central bank stimulus actions this week. The spread of the disease caused by the virus, COVID-19, has sent financial markets into a tailspin despite some of the biggest emergency stimulu...

2020-03-20 13:33

Pandemic engulfs world economy

Pandemic engulfs world economy

The rapid spread of COVID-19 has engulfed the world economy paralyzing economic activities in every industry, fanning worries that the world is slipping into a recession Given that the world has become a one-connected economic village over the past decade as a result of globalization, the pandemic of the new coronavirus is expected to wreak havoc on the entire world - exports...

Kim Bo-eun | 2020-03-19 16:11

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