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Finance

Economy

Fri, February 26, 2021 | 01:24

Rise in US treasury yields unlikely to prompt tantrum for stocks

Rise in US treasury yields unlikely to prompt tantrum for stocks

A recent steep rise in U.S. bond yields and a possible signal of U.S. inflation worries have some Wall Street investors wary that a repeat of the 2013 “taper tantrum” is in sight, possibly affecting the local stock market.

2021-02-22 16:53

Targeted support to pandemic-hit sectors is desirable for S. Korea: OECD chief

Targeted support to pandemic-hit sectors is desirable for S. Korea: OECD chief

The head of the Organization for Economic Cooperation and Development (OECD) recommended Wednesday that South Korea provide targeted support to the sectors hit hard by the pandemic in light of growing pressure on public finances.

2021-02-17 20:53

Price check

Deputy Prime Minister and Finance Minister Hong Nam-ki, right, checks the prices of key agricultural produce in high demand ahead of the Lunar New Year, holidays which start Thursday, at a branch of NongHyup Hanaro Mart in Chang-dong, Seoul, Wednesday. Courtesy of Ministry of Economy and Finance

2021-02-10 18:10

Job market woes deepen in Korea

Job market woes deepen in Korea

Korea shed 982,000 jobs in January following social distancing measures that were strengthened on Dec. 8 due to a third wave of COVID-19 infections, continuing a rapid decline in jobs seen over the previous 11 months.

2021-02-10 16:04

Banks feared to extend 'weak' recruitment practices in 2021

McKinsey expects Korea to normalize in Q2 next year

McKinsey expects Korea to normalize in Q2 next year

The Korean economy is unlikely to climb back to pre-pandemic levels until the second quarter of 2022, despite the government's ambitious plan to achieve a return to normal during the first half of this year, according to McKinsey & Company's managing partner for Korea. Andre Andonian, who became the new head of the global management consulting firm's Seoul office earlier this...

2021-02-03 13:44

Korea's sovereign wealth fund earns $21.8 bil. in 2020 amid pandemic

Korea's sovereign wealth fund earns $21.8 bil. in 2020 amid pandemic

Amid the COVID-19 pandemic shock sweeping the global economy last year, Korea Investment Corporation (KIC) - the country's sovereign wealth fund - gained a total of 23.7 trillion won ($21.8 billion). This increase represents an annual return of 13.7 percent, enabling the sovereign wealth fund to record double-digit investment returns for the second consecutive year. KIC logge...

Anna J. Park | 2021-02-02 16:26

Virus cements economic polarization, job market woes

Virus cements economic polarization, job market woes

Korea is increasingly bogged down by crushing jobs data amid the COVID-19 pandemic, in what many consider a vicious cycle where workers experiencing a reduction or outright loss of income cut spending which in turn tightens consumption further, clouding the prospects of a much-needed economic recovery.

2021-02-01 16:29

Korea's economic recovery remains 'elusive': economists

Korea's economic recovery remains 'elusive': economists

Data for the country's industrial output, consumption and investment all turned upward in December, raising hopes that the economy has bottomed out and is about to get back on track for recovery amid the COVID-19 pandemic. According to data released by Statistics Korea Friday, industrial output grew 0.5 percent last month from a month earlier, while retail sales edged up 0.2 ...

2021-01-29 16:28

S&P highlights Hyundai, Samsung, LG, SK betting on futuristic cars

S&P highlights Hyundai, Samsung, LG, SK betting on futuristic cars

S&P Global Ratings picked aggressive investments by Korean conglomerates in electric vehicles (EVs) and self-driving technologies as one of the most important issues to keep an eye on this year, expressing an optimistic outlook for businesses engaging in the semiconductor, IT and automotive industries. “Hyundai Motor Group is aggressively investing in self-driving vehicles an...

2021-01-27 15:05

IMF, JPM revise up Korea's growth outlook

IMF, JPM revise up Korea's growth outlook

The local economy saw its worst performance in over two decades in 2020, but grew at a faster-than-expected pace in the fourth quarter, also raising hopes that it will bounce back in 2021 in line with a recovery in global trade. In a report released Tuesday, the Bank of Korea (BOK) noted that the country's gross domestic product (GDP) contracted 1 percent in 2020 from a year ...

2021-01-26 22:01

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