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Finance

Economy

Sat, November 28, 2020 | 04:30

Manufacturing job losses trouble Korea

Manufacturing job losses trouble Korea

The manufacturing sector shed 65,000 jobs in the second quarter from a year earlier, a highly worrisome downtrend that has continued for the past few quarters driven by the U.S.-China trade feud-oriented economic slowdown compounded further by the COVID-19 pandemic, government data showed Thursday.

Lee Kyung-min | 2020-11-26 16:28

[Contribution] Strategy of Korea's tax administration post-COVID-19

[Contribution] Strategy of Korea's tax administration post-COVID-19

The COVID-19 pandemic has been sending shockwaves through the world's economy. The economic situation has been exacerbated as countries' travel restrictions have led to decreased production and consumption, a slowdown in global economic growth and trade, and a decline in employment.

2020-11-25 17:14

Consumer sentiment on housing prices hike hits record high

Consumer sentiment on housing prices hike hits record high

Korean consumers showed record-high expectations of a hike in housing prices in November, indicating the failure of the dozens of government real estate policies put in place since President Moon Jae-in took office, central bank data showed Tuesday.

Lee Kyung-min | 2020-11-24 16:36

Will Moon replace controversial housing minister?

'Alone in the dark': Small businesses reel from new virus clampdown

'Alone in the dark': Small businesses reel from new virus clampdown

A new round of social distancing rules took effect on Tuesday in the South Korean capital of Seoul, dealing a blow to small business owners despite brighter hopes for economic recovery after earlier success in battling the coronavirus. The measures range from closures of nightclubs and karaoke bars and curbs on eating in cafes and restaurants to fewer nighttime public transit...

2020-11-24 15:00

Exports rise 11.1% in first 20 days of November

Exports rise 11.1% in first 20 days of November

South Korea's exports rose 11.1 percent on-year in the first 20 days of November, customs data showed Monday, raising cautious hopes of an economic recovery from the coronavirus pandemic. The country's outbound shipments stood at US$31.3 billion in the Nov. 1-20 period, compared with $28.1 billion a year earlier, according to the data from the Korea Customs Service.

2020-11-23 09:30

KIC joins One Planet Sovereign Wealth Fund

KIC joins One Planet Sovereign Wealth Fund

Korea Investment Corp. (KIC) CEO Choi Hee-nam, left, holds a video conference with Task Force on Climate-related Financial Disclosures (TCFD) Chairman Michael Bloomberg, top right, along with 32 other global financial leaders on Saturday, Korea time, at an online annual meeting of One Planet Sovereign Wealth Fund (OPSWF). Korea's sovereign fund joined OPSWF, launched in Decem...

Anna J. Park | 2020-11-22 16:50

Third virus wave to shatter hopes of economic recovery

Third virus wave to shatter hopes of economic recovery

The recent flare-up of COVID-19 cases topping 300 per day for the fifth consecutive day is a highly troublesome indication that Korea will be unable to benefit from a much-awaited economic recovery any time soon, experts said Sunday.

Lee Kyung-min | 2020-11-22 16:21

Finance minister calls for trade multilateralism, support for debt-ridden economies

Finance minister calls for trade multilateralism, support for debt-ridden economies

Finance Minister Hong Nam-ki highlighted the need to promote free trade under multilateral regimes, while expressing support for assistance to debt-ridden developing economies during a G-20 meeting, his ministry said Saturday.

2020-11-14 11:24

Biden's victory to positively impact Korean economy: minister

Biden's victory to positively impact Korean economy: minister

Joe Biden's victory in last week's U.S. presidential election is expected to positively impact the South Korean economy, as it will help ease economic uncertainty and improve global trade environments, Seoul's finance minister said Thursday. Finance Minister Hong Nam-ki also said Biden's environment-friendly policies and a trade row between the U.S. and China are likely to se...

2020-11-12 15:15

Moon, Biden reaffirm commitment to robust alliance, peaceful Korea

October job loss largest in 6 months amid pandemic

October job loss largest in 6 months amid pandemic

South Korea reported the sharpest fall in jobs in six months in October, extending its job losses to an eighth month amid the pandemic, data showed Wednesday. The number of employed people reached 27.09 million last month, 421,000 fewer than a year earlier, according to the data compiled by Statistics Korea. The tally marked the sharpest on-year decline since April, when the ...

2020-11-11 09:21

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