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Economy

Sat, January 28, 2023 | 22:43

Korea, Cambodia to boost trade, investment via FTA

Korea, Cambodia to boost trade, investment via FTA

South Korea and Cambodia agreed Friday to enhance bilateral trade and investment by maximizing their free trade deal, which came into force a month earlier, Seoul's industry ministry said.

2023-01-27 20:42

National pension anticipated to be fully drained in 2055: NPS

National pension anticipated to be fully drained in 2055: NPS

South Korea's state pension operator said Friday its fund is anticipated to be depleted in 2055 should the country maintain the current system amid the critically low birth rates and the aging population.

2023-01-27 18:49

Korea to sell $3.25 bil. of Treasury bills in Feb.

Korea to sell $3.25 bil. of Treasury bills in Feb.

Korea plans to sell 4 trillion won ($3.25 billion) worth of Treasury bills next month to finance the government's fiscal spending, the finance ministry said Friday.

2023-01-27 15:40

Korea not considering 'windfall tax' on energy firms

Korea not considering 'windfall tax' on energy firms

Korea's finance minister said Thursday the country is not considering the so-called windfall tax on energy companies, as local refiners have different business structures compared with European counterparts.

2023-01-26 17:45

Inflation weighs on households

Inflation weighs on households

Many Koreans were surprised by their heating bills this month, as their energy costs went up by some 30 percent compared to last winter, even though people's home-heating patterns haven't changed. The problem feels even more pronounced in households with young children, as they cannot choose to drastically reduce the heating of their homes, given the unusual cold spells that ...

Anna J. Park | 2023-01-26 15:56

FSS chief urges insurers to focus on stability

FSS chief urges insurers to focus on stability

Financial Supervisory Service (FSS) Governor Lee Bok-hyun urged CEOs of local insurance companies to pay extra attention to risk management and market stability, while refraining from overexpansion.

Anna J. Park | 2023-01-26 15:50

FSS chief warns of stern action against opposition to normalizing banks' biz hours

Korea's GDP shrinks 0.4% in Q4, 1st contraction in 10 quarters

Korea's GDP shrinks 0.4% in Q4, 1st contraction in 10 quarters

The Korean economy contracted 0.4 percent in the fourth quarter of 2022 compared to the previous three months, with the twin engines of growth - private spending and exports - declining simultaneously amid a global economic slowdown, the Bank of Korea (BOK) said Thursday. This marks the first time since the second quarter of 2020 that the Korean economy shrank. GDP contracted...

2023-01-26 15:40

Korea's gas, coal imports hit record high in 2022: data

Korea's gas, coal imports hit record high in 2022: data

Korea's imports of gas and coal hit an all-time high last year on surging global energy prices, data showed Thursday.

2023-01-26 13:36

Gov't to double subsidies for vulnerable households as energy bills soar

Koreans stunned by spike in heating costs

Inflation expectations inch up in January amid continued monetary tightening

Inflation expectations inch up in January amid continued monetary tightening

Korea's inflation expectations inched up in January from a month earlier amid the Bank of Korea (BOK)'s continued monetary tightening to bring price growth under control, a central bank survey showed Thursday.

2023-01-26 08:38

Korea's economic growth slows to 2.6% in 2022 on weak exports

Korea's economic growth slows to 2.6% in 2022 on weak exports

Korea's economy grew at a slower pace in 2022 as export growth slumped amid economic recession woes, central bank data showed Thursday.

2023-01-26 08:25

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5	Superintendent of Seoul Education Office gets suspended jail term

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7	Indonesia celebrates 50th anniversary of diplomatic ties with Korea via virtual event

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