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Thu, December 1, 2022 | 18:59

Import prices up for 2nd straight month in Oct. on energy costs, weak currency

Import prices up for 2nd straight month in Oct. on energy costs, weak currency

Korea's import prices rose for the second straight month in October on high energy prices and the weak local currency that drove up overall import bills, central bank data showed Tuesday.

2022-11-15 09:50

Top regulator set to ease regulations on financial sector

Top regulator set to ease regulations on financial sector

Seeking to stimulate innovative growth in the banking industry, the top financial regulator vowed to take concrete steps as early as the first half of next year to change the country's decades-old law that strictly separates financial and industrial capital.

Anna J. Park | 2022-11-14 17:11

Korea's sovereign rating remains resilient: FitchRatings

Korea's sovereign rating remains resilient: FitchRatings

Despite increasing challenges to Korea's economic outlook, such as high inflation and weak external demand, a renowned global ratings agency views that the country's sovereign rating still remains at a resilient and solid level. During a press conference held at Conrad Seoul on Yeouido, Seoul, Friday afternoon, Jeremy Zook, Director of Sovereign Ratings at FitchRatings, said ...

Anna J. Park | 2022-11-11 16:44

BOK chief hints at slowing pace of monetary tightening

BOK chief hints at slowing pace of monetary tightening

Bank of Korea (BOK) Governor Rhee Chang-yong hinted on Friday that the central bank will slow the pace of its monetary tightening by raising its key interest rate by a conventional margin of 0.25 percentage points in this year's final rate-setting meeting scheduled for Nov. 24.His comment came on the heels of fresh U.S. economic data, Thursday, that consumer price inflation i...

Yi Whan-woo | 2022-11-11 16:15

Gov't to inject $2.1 bil. to prop up short-term money market

Gov't to inject $2.1 bil. to prop up short-term money market

Korea's financial regulator said Friday it will inject more than 2.8 trillion won ($2.1 billion) in liquidity to prop up the short-term money market and ease worries over a credit crunch.

2022-11-11 15:16

BOK chief says continued monetary tightening necessary but worries about 'growing signs of stress'

BOK chief says continued monetary tightening necessary but worries about 'growing signs of stress'

Korea's top central banker said Friday that it is a top priority to ensure price stability and reduce inflation pressure through monetary tightening but worried there are "growing signs of stress" in various sectors amid recent steep interest rate hikes.

2022-11-11 11:33

Exports down 2.8 pct during first 10 days of Nov.

Exports down 2.8 pct during first 10 days of Nov.

Korea's exports slipped 2.8 percent on-year in the first 10 days of November due mainly to weak shipments of chips and mobile devices, data showed Friday.

2022-11-11 09:34

Global economic growth tipped to slow to 2.4% next year on rate hikes: KIEP

Global economic growth tipped to slow to 2.4% next year on rate hikes: KIEP

The global economy is expected to grow at a slower than expected clip of 2.4 percent next year, a state-run economic think tank said Thursday, citing the aftermath of aggressive monetary tightening in major economies and lingering geopolitical risks.

2022-11-10 14:36

Korean economic growth estimated below 2% in 2023 on weak exports

Korean economic growth estimated below 2% in 2023 on weak exports

Korea's economic growth is expected to hover below 2 percent in 2023, a state-run think tank said Thursday, due to the country's weakening exports amid worries over a global recession.

2022-11-10 13:25

Bank CEOs vow to cooperate to stabilize local credit market

Bank CEOs vow to cooperate to stabilize local credit market

In a move to provide necessary liquidity to local credit markets, the CEOs of 20 Korean banks pledged Wednesday to minimize the issuance of bank notes, while continuing to purchase various commercial papers (CP), asset-backed commercial papers (ABCP) and repurchase agreements (RP or repos), a short-term agreement to sell securities in order to buy them back at a higher price.

Anna J. Park | 2022-11-09 17:12

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