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Thu, December 8, 2022 | 07:40
US inflation data in focus amid growing currency volatility
Korean financial markets are paying keen attention to the U.S. inflation report to be released on Tuesday (local time), as it can shape the course of the hawkish U.S. Federal Reserve's next move on the key interest rate and also add to the woes of extreme currency volatility seen here recently. The report will show U.S. consumer price data in August, whose growth slowed down ...
| 2022-09-12 16:53
[INTERVIEW] Korea faces challenges similar to 2008 financial crisis: Ex-Fed economist
A noted economic expert has called on the Korean government to raise its guard against a possible economic crisis, as the Korean economy is facing challenges similar to those of the 2008-2009 global financial crisis. Kim Jin-il, a former U.S. Federal Reserve economist, pointed out that the five-month-long trade deficit Korea has suffered, which is rare, could be perceived fro...
| 2022-09-12 16:39
Short-term foreign debt rises to 10-year high in Q2
The ratio of Korea's short-term foreign debt that matures in a year compared with its foreign exchange reserves surged to its highest level in 10 years at 41.9 percent in the second quarter, according to the Bank of Korea (BOK), Monday. It is the first time that the ratio of the short-term foreign debt, which increased $8.9 billion quarter-on-quarter to $183.8 billion, surpas...
| 2022-09-05 16:08
South Korea's population to shrink to 38 million by 2070 amid rising world population
South Korea's population will shrink to 38 million in 2070, down from roughly 52 million this year, according to Statistics Korea, Monday. The demographic trend in Asia's fourth-largest economy is in stark contrast to the world population that will increase to 10.3 billion from 7.97 billion during the cited period. The stats agency forecast the decline in population will be u...
| 2022-09-05 15:40
Has inflation peaked in Korea?
The rising consumer prices in Korea slowed for the first time this year in August, raising hopes that inflation may have reached its peak and is now heading south.
| 2022-09-02 16:08
Ex-financial bureaucrat nominated as new NPS CEO
Kim Tae-hyun, the chairman and president of the state-run Korea Deposit Insurance Corp. (KDIC), has been nominated to lead the National Pension Service (NPS), the pension operator announced, Thursday. The state pension provider said Kim is scheduled to take office, Friday.
| 2022-09-01 16:44
Korea suffers largest-ever trade deficit in August
Korea recorded its biggest monthly trade deficit in August amid the prolonged slowdown in export growth, raising concerns that the country's economy will lose further growth momentum in the remainder of 2022. Exports have been the main driver for the Korean economy, and their slowdown is mainly attributable to the sluggish Chinese economy, which may mark its slowest growth in...
| 2022-09-01 16:36
Production, consumption, facility investments all drop in July
The country's industrial output, retail sales and facility investments simultaneously fell into negative figures for the first time in three months in July, according to Statistics Korea, Wednesday, prompting concerns that the path for economic recovery is being increasingly disrupted by downside risks here and abroad. Analysts speculated Asia's fourth-largest economy may slo...
| 2022-08-31 16:21
Korea shifts to belt-tightening mode by cutting budget for first time in 13 years
The government said Tuesday that it will cut the national budget in 2023 for the first time in 13 years. The decision reflects a shift to a belt-tightening mode to improve fiscal health and keep soaring inflation in check, in contrast to the pandemic-era stimulus policy under the previous Moon Jae-in administration.The new budget sharply cuts spending on non-core expenditures...
| 2022-08-30 16:53
Hawkish Fed stance to add more pressure to BOK's rate hike move
The Bank of Korea (BOK) is likely to face more pressure to pursue additional rate hikes throughout this year, after the head of the U.S. Federal Reserve reaffirmed his hawkish stance, Friday, to raise borrowing costs at a faster pace to fight inflation. The BOK has been open to additional hikes, as signaled by Governor Rhee Chang-yong that the country's monetary policy will c...
| 2022-08-28 17:02
American father's battle to find missing children in Korea
Lifting of indoor mask mandate gains momentum
Fingers crossed for unification of two Koreas
Founder of Korea's first e-commerce platform creates AI-based travel app
First batch of K2, K9 arrives in Poland
Naturalized Korean among invitees to presidential dinner
[INTERVIEW] 'If youth get excited about unification, things will happen very quickly'
Jeep introduces all-new Grand Cherokee in Korea
S&P economist forecasts 1.4% growth for Korea in 2023
Coupang invests $4.69 bil. to expand logistics infrastructure
[PHOTOS] World Cup 2022 Korea vs Brazil
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