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Finance

Economy

Fri, July 19, 2019 | 06:23

Economy for single households growing fast

A 36-year-old hamburger store owner surnamed An refurbished his store recently to better serve customers who visit there alone. He removed some tables and installed a huge bar. “An increasing number of customers visit my store alone. They sat alone at tables designed for two or more people. It was just a waste of space. We could've accommodated more than twice as many custome...

Jhoo Dong-chan | 2019-07-18 19:43

Skepticism growing over Korean economy

A growing number of experts worldwide are expressing skepticism about the government's rosy outlook for the country's economic growth for 2019. Contrary to the Ministry of Economy and Finance's outlook of a range of 2.4 percent to 2.5 percent, many global economists forecast that the 2019 growth rate will fall below 2 percent.

Park Jae-hyuk | 2019-07-17 15:04

BOK cuts key interest rate to 1.5 percent

Fitch may cut Korea's growth outlook to below 2%

Fitch Ratings has hinted it may lower its 2019 economic growth outlook for Korea to below 2 percent, citing the potential effects of Japan's export restriction measures against Korea. The global ratings agency cut its 2019 forecast to 2 percent in its June report. Two other global ratings agencies - Moody's Investors Service and Standard & Poor's Global Ratings - already hint...

Park Jae-hyuk | 2019-07-16 17:32

S&P hints at cutting Korea's growth outlook again

Standard & Poor's (S&P) Global Ratings hinted Thursday that it may lower its forecast for Korea's GDP growth rate for 2019 to below 2 percent if the ongoing trade feud between Korea and Japan continues to escalate. The global ratings agency said that growing uncertainties resulting from the trade conflict are posing additional downside risks to Asia's fourth-largest economy.

Park Jae-hyuk | 2019-07-11 16:58

Japan slammed for using 'economic tools for other ends'

Concerns are growing about the use of economic measures such as trade restrictions for political purposes, with Japan being the latest country to take such steps. Global economists said such practices will end up hurting everyone as they could undermine the international trade system and destroy the value chain, warning that Japan could become a bigger loser if the confrontat...

Kim Bo-eun | 2019-07-11 16:34

'Seoul proposes plan to compensate forced wartime laborers

Dollarization rules North Korea economy

“Dollarization” is the most notable aspect of North Korea under the Kim Jong-un regime, an inevitable result of a weak economy whereby the North Korean won fails to function as a currency, a state-run think tank said Tuesday. Otherwise known as currency substitution, dollarization is a term for when a foreign currency is used in addition to or instead of the domestic currency...

Lee Kyung-min | 2019-07-02 17:22

Output, investment fall amid manufacturing downturn

Industrial production and investment fell again in May after rising in the two previous months amid a manufacturing downturn, according to Statistics Korea. The country's overall output contracted 0.5 percent in May from the month before.

Park Hyong-ki | 2019-06-28 17:05

One-person households becoming 'new normal'

A Seoul resident in her 40s who lives alone sees herself in the same position for the next decade. "I enjoy the freedom that the lifestyle of singles allows," she said.

Kim Bo-eun | 2019-06-23 15:38

Platform economy stands at crossroads

The country's aim to create a so-called platform economy stands at a crossroads amid a conflict between old and new businesses, analysts and industry sources say. Also, the global trade war between the United States and China, which has been extended into a tech power game, is further making Korea look like a follower, not an innovator.

Park Hyong-ki | 2019-06-17 16:59

Brokerages benefit from BOK's dovish stance, not banks

The nation's brokerages expect to enjoy a rise in their bond assets as Bank of Korea Governor (BOK) Lee Ju-yeol signaled a possible policy rate cut, Korea Exchange (KRX) data suggests.

Jhoo Dong-chan | 2019-06-16 17:11

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