Economy

Election To Be Held In May Following President Park Geun Hye's Ousting

President Park Geun-Hye has been ousted. The search for the next president should be before May 9.

March 11, 2017 at 9:07 am

South Korea's Business Groups Urge People To Move Forward After Impeachment Decision

South Korea's top business groups called on the people to refocus on what they called urgent and important issues facing the country's economy, now that the impeachment issue is finally over.

March 11, 2017 at 12:00 am

Oil Products Are South Korea's Biggest Exports In February

Petroleum and petrochemical products overtook semiconductors as the biggest export item for South Korea in February as refiners in China and Japan are cutting exports because of rising domestic consumption, according to government data.

March 9, 2017 at 7:10 am

Louis Vuitton’s Popularity Fading In Korea

Louis Vuitton is said to be losing its luster in Korea despite the fact that it has been considered as the brand which offers relatively low prices compared to the other top brands like Hermes and Chanel.

March 7, 2017 at 7:54 am

Lotte Store Closures In China Reported Amid Political Tension

China shuts down some Lotte stores.

March 7, 2017 at 7:52 am

Korea Encouraged To Cut Economic Overindependence On China

Korea has been encouraged to cut its economic overdependence on China since this is needed to lessen the risks linked to regional conflicts.

March 7, 2017 at 7:49 am

South Korea To Consider Filing WTO Complaint Over China's Retaliation

The South Korean government said on Tuesday that they may take China's economic retaliation against the country to the World Trade Organization (WTO) amid growing tensions between the two neighboring countries over Seoul's planned deployment of a U.S. missile defense system.

March 6, 2017 at 5:20 am

China Confirms 2017 Defense Budget Increase

China will have a 7 percent increase in its defense budget.

March 6, 2017 at 5:11 am

Korea Encouraged To Build A Nation Ruled By Law

Korea has been encouraged to build a nation ruled by law after the political and commercial turmoil the country had experienced in the previous months.

March 6, 2017 at 5:10 am

S. Korean Banks' Net Profits Fell Sharply In 2016 Due To Shipbuilding Industry's Woes

South Korean banks recorded a sharp decline in net income in 2016, due to huge loan loss spending as a result of the financial troubles of several companies in the shipbuilding industry, according to data from the Financial Supervisory Service (FSS).

March 6, 2017 at 5:09 am

South Korea's Foreign Reserves Down In February As Value Of Non-Dollar Assets Fell

South Korea's foreign exchange reserves recorded a marginal decline in February after a three-month high in January, according to data from the Bank of Korea.

March 4, 2017 at 4:12 am

Koreans Could End Up Paying For The U.S. THAAD Missile System

South Koreans may be the ones to should the financial responsibilities of the THAAD.

March 4, 2017 at 4:10 am

Bank Of Korea Selects Operators For Its Pilot To Promote Coinless Society

The Bank of Korea, on Friday, said that it has picked the operators that will participate in its pilot project that could help bring the country into a so-called coinless society.

March 4, 2017 at 4:09 am

South Korea's Current Account Surplus Narrows To $5.28 Billion In January

South Korea's current account surplus narrowed in January compared to December last year, due to rising deficit in the service balance, according to preliminary data from the Bank of Korea.

March 4, 2017 at 4:08 am

South Korea's Inflation Up 1.9 Percent In February From A Year Ago

South Korea's consumer prices jumped in February from the previous year, and it slightly rose from the previous month, according to government data released Friday, giving the Bank of Korea some room to cut rates if needed amid economic uncertainties.

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