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Finance

Economy

Wed, July 28, 2021 | 13:31

Finance chief again warns of housing bubble

South Korea's top economic policymaker on Wednesday warned of a housing bubble amid a looming interest rate hike, and vowed to increase the housing supply and tighten lending rules to stabilize the market.

2021-07-28 11:15

Despite Delta variant, BOK remains positive for 4% growth

While the spread of the Delta variant is expected to hurt the momentum of the country's economy amid a sluggish vaccination progress since late June due to the shortage of vaccines, the Bank of Korea (BOK) said Tuesday the country's economy could be able to grow 4 percent this year.

Lee Kyung-min | 2021-07-27 17:02

Korea's economy grows 0.7% in Q2

South Korea's economy grew at a solid pace in the second quarter and is on track for a 4 percent expansion this year estimated by the central bank thanks to a strong recovery of domestic demand and robust exports, the Bank of Korea (BOK) said Tuesday.

2021-07-27 11:10

How will delta variant affect future course of US dollar?

The DXY (U.S. dollar index) - measuring the value of the U.S. dollar against six major currencies - stands at 92.89 as of July 21, its highest since April. The dollar depreciated in the 2nd quarter, on expectations that a global recovery would take place alongside a faster vaccination push. But the dollar has been rising again since June, this time on expectations that moneta...

2021-07-23 08:17

Exports up 32.8% in first 20 days of July

South Korea's exports rose 32.8 percent on-year in the first 20 days of July on the back of robust demand for chips, autos and petroleum products, customs data showed Wednesday.

2021-07-21 09:20

Streets of 'K-beauty mecca' Myeongdong remain empty amid pandemic

It's time to get ready for the summer holiday season, but shops in Myeongdong, a major shopping district in downtown Seoul, remain eerily quiet with "For Lease" signs attached to many storefronts along the main road.

2021-07-21 08:29

4th COVID-19 wave threatens Korean economy

Despite the growing vaccination rate in South Korea, the country's economic growth is widely expected to be dragged down by the rise in COVID-19 infections, said economists and analysts Tuesday.

Anna J. Park | 2021-07-20 16:36

Delta variant to ignite 'short-term correction'

Number of discouraged workers hits fresh high in June

The number of discouraged workers in South Korea hit a new monthly high in June amid the prolonged coronavirus pandemic, government data showed Monday.

2021-07-19 08:46

Social distancing, minimum wage hike drive small businesses to brink

With the COVID-19 pandemic continuing for more than a year now, there seems to be no way out for small business owners. The recent re-imposition of strengthened social distancing measures amid a fourth wave of the pandemic, and the increase in the minimum wage, are adding to their concerns. “Most of the evening customers used to come in groups of three or four. I have been ma...

Yoon Ja-young | 2021-07-17 09:12

Soaring grocery prices fueling inflation woes

Prices of frequently purchased consumer items are on a continual, steep rise due to surging oil and raw material prices, fueling concerns that inflation here may no longer be transitory.

Lee Kyung-min | 2021-07-16 16:37

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