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The Korea Times

The Korea Times

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Economy

Sun, December 10, 2023 | 10:04

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

Gov't to supply 120,000 additional public homes by 2027

Gov't to supply 120,000 additional public homes by 2027

Korea will supply 120,000 public homes in addition to the existing plan to deliver 2.7 million new homes by 2027 to offset the declining private-sector home supply amid higher lending rates, the land ministry said Tuesday.

2023-09-26 15:30

Retail sales up 3.3% in August on rising demand on online platforms

Retail sales up 3.3% in August on rising demand on online platforms

Retail sales in Korea rose 3.3 percent on-year in August, despite the fall in sales of offline retailers, as more people turned to online platforms for daily necessities and items for summer vacation, the industry ministry said Tuesday.

2023-09-26 14:08

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