Economy

2016 Grand Sale In Korea To Start Before Lunar New Year

The nationwide sale is expected to boost the domestic consumption of the country.

January 20, 2016 at 4:52 am

IMF Revised Global Forecast Down, Due To Risks Of China Slowdown, Strong Dollar, Geopolitical Tension And Renewed Global Risk Aversion

The International Monetary Fund (IMF) has revised down its global forecast for the third time in less than a year, according to an update released by the IMF. The cut is due to the increased challenges that emerging markets and developing countries are facing, particularly the slowdown in China, stronger dollar and the renewed global risk aversion.

January 20, 2016 at 3:54 am

Korea Tourism Down By 6.8 Percent, First Time Since 2003

Korea falls under Japan's tourism after seven years of race, where the former experience 6.8 percent decline from last year.

January 20, 2016 at 3:48 am

Asia-Pacific Food Industry Soars Above Automobile, Steel; Korean Export Reaches Billions

Asia Pacific food industry grows at a rapid pace, out staging Europe by $342 trillion in 2014.

January 19, 2016 at 11:30 am

South Korea’s Construction Industry Gets Hit Hard By Current Trend Of Oil Price Decline

“The current trend is likely to keep affecting emerging economies while their demands are on the decline to leave a negative impact on Korean exporters," said LG Economic Research Institute.

January 19, 2016 at 9:40 am

Toronto Stock Exchange Continues To Plummet As Global Market Remains Unstable

According to an analyst, the downfall of Canada's index is highly affected by the volatility of oil prices and China's economic performance.

January 19, 2016 at 4:21 am

South Korea Becomes China's 2nd Largest Trading Partner In The Fourth Quarter, Surpasses Japan

Data shows that China became South Korea’s second-largest trading partner in the fourth quarter of last year, according to a report from Yonhap News Agency. The figure that came out has unseated Japan for the first time.

January 19, 2016 at 2:02 am

Asian Shares Fall Down Corresponding To Oil Drop, The Lowest Since 2011

The oil price drop on Monday pulls down Asian shares lower since 2011.

January 19, 2016 at 2:00 am

Iran's Return Adds Up To Oil Oversupply, Oil Slides Down to $28 BDP

The expected rise of exports in Iran, as the country's sanctions are lifted, causes oil to slump to 2003 low at $28 a barrel.

January 17, 2016 at 9:36 pm

Stock Market In China Slumps Again, Enters Bear Market

Shanghai Composite Index, China's key indicator, has fallen to its lowest level since December 2014 as it went down by 3.5 percent on January 15.

January 15, 2016 at 5:07 am

North Korea Finds Financial Aid From Hedge Fund Billionaire, Investing on Country's Crude Oil

A hedge fund manager expressed his interest to bet on North Korea as he sees better opportunities to source out oil despite its nuclear actions.

January 16, 2016 at 3:30 am

South Korea's New Finance Minister Vows To Make The Country The Fifth Biggest Exporter, Will Lay The Foundation Needed

South Korea’s new Finance Minister Yoo Il-ho said that the country’s new team of economic ministers will do their best to make South Korea the fifth-biggest exporter in the near future, according to a report from Yonhap News Agency. Yoo and his team will do their best to lay the foundation needed to help the country achieve that status.

January 16, 2016 at 2:50 am

Bank Of Korea Cuts South Korea's Growth Outlook In 2016 To 3%, Due To Instability Surrounding Economic Conditions At Home And Abroad

The Bank of Korea, South Korea’s central bank, has announced in a press release that it trimmed the country’s economic outlook in 2016 to three percent, down from its previous forecast of 3.2 percent. The bank said that uncertainties at home and abroad were the reasons for the downward revision.

January 14, 2016 at 9:11 am

JP Morgan Chase & Co. Dismisses Crisis Issues, Earns $5.4 Billion Profit

Despite numerous concerns on the global market, JP Morgan Chase & Co. has made a 10 percent increase in profit in the last quarter.

January 14, 2016 at 8:31 am

BMW Group To Venture 215 Billion Won Investment Project in Korea

BMW Group recognizes South Korea as one of the largest markets of the company, largely contributing to increased sales volume last year.