Economy

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.

March 3, 2017 at 8:02 am

Busan University Builds Dorm To Be Completed Next Year To Entice Foreign Students

Busan University will be creating a dormitory to attract foreign students.

March 3, 2017 at 3:01 am

Hyundai Heavy Union Faces Trouble Over Staging Series Of Strikes

The Hyundai Heavy Union is facing a dilemma because of staging a series of strikes during the past days which were also conducted despite the company's uncontrollable losses.

March 3, 2017 at 12:47 am

South Korea To Sell 4 Trillion Won Worth Of Treasury Bills In March

As part of the South Korean government's effort to support its expansionary fiscal policy, it will sell 4 trillion won worth of Treasury bills, with the maturity of between 28 days and 63 days, in March, according to the Ministry of Strategy and Finance.

March 3, 2017 at 12:46 am

Pork Belly Prices In South Korea Sharply Rise

Rising demand and falling supply led to a 19 percent rise in prices of pork belly meat in South Korea, according to data from the Korea Agro-Fisheries & Food Trade Corp.

March 2, 2017 at 10:50 am

US, South Korea Affirm Economic Ties, Will Discuss Expanded Sanctions Against North Korea

Finance Minister Yoo Il-ho and US Treasury Secretary Steven Mnuchin reaffirmed the strong economic ties that their countries have. The two ministers also discussed the possibility of expanding sanctions on North Korea over its recent missile test.

March 2, 2017 at 7:22 am

Korea-US Free Trade Deal Led To Ballooning Trade Deficit: USTR

The United States Trade Representative said Washington needs to review its approach with trade deals pointing to how its free trade agreement with South Korea led to significant increase in US trade deficit.

March 2, 2017 at 6:41 am

China's Lotte Boycott Intensifies; What Will Company Do Next?

Lotte's website recently went down after unidentified hackers released a DOS attack. Several Chinese online shopping platforms have also dropped Lotte products from its stores.

March 2, 2017 at 12:05 am

South Korea's Industrial Output Grows Most In 7 Years In January

South Korea's industrial output jumped for three consecutive months in January, its fastest pace in over seven years, fueled by an increase in output in the country's key semiconductor and electronics in a sign of continued recovery of exports, according to Statistics Korea.

March 1, 2017 at 9:28 am

South Korea's Exports Post Impressive Growth In February

The boost in South Korea's exports and imports show that global trade continues to grow stronger. However, there are concerns numbers might fall with the deployment of THAAD.

February 28, 2017 at 11:24 pm

South Korea's Exports Up 20.2 Percent In February; Fastest Rise In 5 Years

South Korea's exports rose 20.2 percent in February from the same month a year earlier and accelerated at its fastest pace in five years due to increasing oil prices and rebounding world trade, according to the trade ministry.

February 27, 2017 at 10:48 pm

South Korean Manufacturers' Business Sentiment Improves For March

Expectations for increased exports and domestic demand led to improved South Korean manufacturers' business sentiment for the month of March, according to the Bank of Korea.

February 27, 2017 at 3:56 am

South Korea's Retailers Post 8.3 Percent Sales Growth In January

Robust sales by convenience stores and large chain supermarkets helped sales of major South Korean retailers in January from the previous year, according to the Ministry of Trade, Industry, and Energy.

February 27, 2017 at 1:39 am

New Home Permits Issued In South Korea Fell 16.1 Percent In January

New home permits fell 16.1 percent from a year ago in January, according to the Ministry of Land, Infrastructure, and Transport, amid efforts by the government to limit the number of new homes as part of its plan to curb household debt.

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