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Economy

Sat, June 3, 2023 | 23:47

Korea vows to partner with World Bank to share expertise with developing nations

Korea vows to partner with World Bank to share expertise with developing nations

Korea wishes to expand cooperation with the World Bank by sharing its expertise in the climate and digital sectors, the finance minister said Wednesday.

2023-05-24 11:41

[INTERVIEW] Korea urged to brace for employment and consumption challenges posed by sluggish exports

INTERVIEWKorea urged to brace for employment and consumption challenges posed by sluggish exports

Out of the Korean economy's major macroeconomic risk factors - notably inflation, high interest rates, high foreign exchange rates and sluggish exports - Lee Yong-jae, president of the Korea Center for International Finance (KCIF), pointed out that the country's weakened exports could pose the biggest challenge..

Anna J. Park | 2023-05-24 08:38

Household credit shrinks at sharpest pace ever in Q1 amid high borrowing costs

Household credit shrinks at sharpest pace ever in Q1 amid high borrowing costs

Korea's household credit shrank at the sharpest pace ever in the first quarter of the year amid high interest rates driven by the central bank's monetary tightening to bring down inflation, data showed Tuesday.

2023-05-23 13:37

Cabinet approves new intra-affiliate trading rules

Cabinet approves new intra-affiliate trading rules

Korea's Cabinet passed a new regulation on Tuesday regarding intra-affiliate trading, which aims to reduce excessive regulations by lowering the trading volume ceiling that requires regulatory filing.

2023-05-23 11:49

Inflation expectations at 1 year low in May

Inflation expectations at 1 year low in May

Korea's inflation expectations fell to the lowest in a year in May on a slide in prices of petrochemical goods, a central bank survey showed Tuesday.

2023-05-23 09:21

Tax shortage forces gov't to mull restricting budget spending

Tax shortage forces gov't to mull restricting budget spending

With a fiscal deficit looming, government restrictions on budget spending are looking increasingly inevitable. Given the challenges in planning a supplementary budget and the finance minister's opposition to it, cutting expenditures is currently the most viable option to address the fiscal deficit.

Lee Yeon-woo | 2023-05-22 15:58

S. Korea rules out decoupling from China: finance minister

S. Korea rules out decoupling from China: finance minister

South Korea's finance minister on Monday ruled out the possibility of decoupling from China, calling the world's second-largest economy Seoul's "most important partner" for economic cooperation.

2023-05-22 15:33

Exports down 16.1% during first 20 days of May

Nat'l consumer inflation up 4.7% in Q1

Nat'l consumer inflation up 4.7% in Q1

Korea's nationwide consumer prices advanced 4.7 percent on-year in the first quarter of this year due to higher electricity, gas and water costs, data showed Monday.

2023-05-22 13:51

Korea's trade balance expected to improve after May: finance minister

Korea's trade balance expected to improve after May: finance minister

Korea's finance minister said Monday the country's trade balance could improve after May and he expects a gradual recovery of tax revenue down the road as well.

2023-05-22 11:34

Korean financial systems to take root in Central Asia

Korean financial systems to take root in Central Asia

The vice chief of Korea's top financial regulator wrapped up a four-day visit to two countries in Central Asia, facilitating overseas business expansions by Korean financial firms and joint investments in the region.

Anna J. Park | 2023-05-21 16:26

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