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Fri, December 2, 2022 | 12:09

Korea to release vegetable, salt reserves amid price hikes

Korea to release vegetable, salt reserves amid price hikes

Korea plans to release its stockpile of vegetables and salt to cope with the lingering inflation for the annual kimchi-making period ahead of winter, the government said Friday.

2022-10-28 09:38

Widening trade deficit hurts Korea's Q3 growth

Widening trade deficit hurts Korea's Q3 growth

The widening trade deficit is increasingly denting Korea's growth, with poor net exports dragging down the economy by 1.8 percent in the third quarter, up from 1 percent three months earlier, according to an advance estimate from the Bank of Korea (BOK), Thursday.

Yi Whan-woo | 2022-10-27 15:38

Trade terms worsen for 18th straight month in September

Trade terms worsen for 18th straight month in September

Korea's terms of trade worsened for the 18th straight month in September as import prices grew much faster than exports, central bank data showed Thursday.

2022-10-27 13:44

[INTERVIEW] IMF downplays concerns over inflation in Korea

INTERVIEWIMF downplays concerns over inflation in Korea

The International Monetary Fund (IMF) said it is seeing signs that Korea's inflation growth is decelerating and expects overall consumer prices in Asia's fourth-largest economy to decline throughout next year.

Kim Yoo-chul | 2022-10-27 12:58

Korean economy grows at slower clip in Q3 amid subdued export growth, weak spending

Korean economy grows at slower clip in Q3 amid subdued export growth, weak spending

The Korean economy grew at a slower clip in the third quarter than three months earlier as export growth remained subdued and spending weakened amid high inflation and worries over the possibility of a global economic recession, a central bank estimate showed Thursday.

2022-10-27 08:31

Finance minister urges allies to fine-tune conflicts of economic interests

Finance minister urges allies to fine-tune conflicts of economic interests

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho stressed the importance of fine-tuning conflicts of economic interests between Korea and the United States, as their alliance is broadening to the economic sphere that increasingly impacts national security across the world.

Yi Whan-woo | 2022-10-26 16:54

Korea advised to find opportunities amid challenging US trade policies

[Contribution] Global supply chain crisis and public stockpiling

ContributionGlobal supply chain crisis and public stockpiling

Amid World War II on the North African battlefront, a high-ranking German military officer, looking around a U.S. base occupied by German troops, found a chocolate cake in a military rucksack of a U.S. soldier held captive. Instantly, a sense of despair overwhelmed him as he realized that Germany would end up on the losing side. The German officer could see the gap in supply ...

2022-10-26 14:39

Korea's export growth rate to fall to zero-percent range in 2023: IMF

Korea's export growth rate to fall to zero-percent range in 2023: IMF

A senior official at the International Monetary Fund (IMF) said despite Korea's solid economic fundamentals, the country's export growth rate is expected to fall to the zero-percent range in 2023, from around the three-percent level this year, due to economic slowdowns in major countries and a decrease in global demand.

Anna J. Park | 2022-10-25 16:36

Inflation expectations inch up in Oct. amid interest rate hikes: BOK survey

Inflation expectations inch up in Oct. amid interest rate hikes: BOK survey

Korea's inflation expectations edged up on-month in October amid the Bank of Korea (BOK)'s aggressive rate hikes to bring price growth under control, a central bank survey showed Tuesday.

2022-10-25 10:10

PM calls for preemptive responses to economic risks

PM calls for preemptive responses to economic risks

Prime Minister Han Duck-soo on Tuesday called for preemptive responses to downside economic risks to cope with rising volatility in financial markets.

2022-10-25 10:10

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