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The Korea Times

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Economy

Sun, October 1, 2023 | 18:14

Korea's drop in exports eases in Sept. on chip sales recovery

Korea's drop in exports eases in Sept. on chip sales recovery

Korea's exports fell for the 12th consecutive month in September but logged the smallest year-on-year decline so far this year, as global demand for semiconductors coninues to recover, the industry ministry said Sunday.

2023-10-01 10:36

Households in capital area hold 70% more in assets than non-metropolitan families: data

Households in capital area hold 70% more in assets than non-metropolitan families: data

Assets held by Korean households in Seoul and the surrounding metropolitan areas were some 70 percent larger than those owned by households in the non-metropolitan regions, data showed Saturday.

2023-09-30 14:53

BOK likely to stand pat again next month on Fed's rate freeze, slowdown

BOK likely to stand pat again next month on Fed's rate freeze, slowdown

The U.S. Federal Reserve's rate pause this month may give relief to Korea's central bank, which is widely expected to stand pat again on its rate level next month amid concerns over an economic slowdown and rising household debt.

2023-09-28 11:11

BOK sells net $5.97 billion in market-smoothing operations in Q2

BOK sells net $5.97 billion in market-smoothing operations in Q2

The Bank of Korea said Wednesday it sold a net $5.97 billion in the second quarter of the year to help ease the decline of the local currency against the U.S. dollar.

2023-09-27 18:45

Korea-Qatar LNG alliance strengthens with bilateral summit

Korea-Qatar LNG alliance strengthens with bilateral summit

The recent diplomatic summit between energy ministers from Korea and Qatar has established the basis for a bilateral energy alliance that can develop further through trading natural energy resources and transport tankers.

2023-09-27 15:07

KDIC strengthens exchanges with US FDIC

KDIC strengthens exchanges with US FDIC

The Korea Deposit Insurance Corporation (KDIC) and the Federal Deposit Insurance Corporation (FDIC) have agreed to enhance mutual cooperation and strengthen information sharing between the two organizations. The FDIC is a U.S. government corporation that supplies deposit insurance to depositors in American commercial banks and savings banks.

2023-09-27 15:02

Population mobility up in August on housing market rebound

Population mobility up in August on housing market rebound

The number of Koreans who changed residences to a different region rose 3.8 percent from a year earlier, data showed Wednesday, amid signs of a rebound in the local property market.

2023-09-27 14:18

Banks' household lending rate down for 2nd month in August

Banks' household lending rate down for 2nd month in August

Banks' household loan rate fell for the second straight month in August as the central bank has kept its key rate unchanged for months amid easing inflation and an economic slowdown, central bank data showed Wednesday.

2023-09-27 14:17

Finance minister expects Korea's exports to rebound as early as October

Finance minister expects Korea's exports to rebound as early as October

Finance Minister Choo Kyung-ho said Wednesday that he expects Korea's exports to rebound as early as October, voicing hope of recovery in the nation's main growth sector.

2023-09-27 11:00

BOK warns of worsening household debt situation

BOK warns of worsening household debt situation

Korea's housing market capitalization reached 6,209 trillion won ($4.5 trillion) last year, nearly three times the country's nominal GDP, which stood at 2,162 trillion won. The ratio of household debt to GDP, meanwhile, is much higher than that of other economies, leaving Korean households vulnerable to high interest rates, the central bank warned.

2023-09-26 16:44

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