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S. Korean Economy Faces Heightened Uncertainty amid 4th Wave of Pandemic

S. Korean Economy Faces Heightened Uncertainty amid 4th Wave of Pandemic

SEOUL, Aug. 8 (Korea Bizwire) — The South Korean economy is facing heightened uncertainty as the recovery of domestic demand is likely to slow amid a recent spike in COVID-19 cases, a state-run think tank said Sunday. Asia’s fourth-largest economy is on a recovery track amid solid exports, but the toughest-ever virus curbs, in effect [...]

Foreign IBs Up S. Korea’s 2021 Growth Outlook to 3.6 pct

Foreign IBs Up S. Korea’s 2021 Growth Outlook to 3.6 pct

SEOUL, March 9 (Korea Bizwire) — Major global investment banks (IBs) have revised up their forecasts for South Korea’s 2021 economic growth for the third consecutive month amid growing expectations for a recovery, a report showed Tuesday. As of end-February, nine major global IBs, including Barclays, BoA-Merrill Lynch and Citi, forecast Asia’s fourth-largest economy to [...]

S. Korea’s 2020 Growth Ranks 3rd Among Major Nations

S. Korea’s 2020 Growth Ranks 3rd Among Major Nations

SEOUL, Feb. 23 (Korea Bizwire) — South Korea’s economic growth rate ranked third among major economies across the globe in 2020 despite an on-year contraction due to the coronavirus pandemic, data showed Tuesday. Asia’s fourth-largest economy contracted 1 percent last year from a year earlier, but it posted the third-best performance among 15 major nations, [...]

Foreign IBs Raise S. Korea’s 2021 Growth Outlook

Foreign IBs Raise S. Korea’s 2021 Growth Outlook

SEOUL, Jan. 27 (Korea Bizwire) — Several foreign investment banks (IBs) have revised up their forecasts for South Korea’s 2021 economic growth following the economy’s relatively good performance last year, a report showed Wednesday. Out of six foreign IBs and one research institute that published reports on Asia’s fourth-largest economy Tuesday, three upgraded their growth [...]

Finance Ministry Faces Tough Calls over Further Spending amid Pandemic

Finance Ministry Faces Tough Calls over Further Spending amid Pandemic

SEOUL, Jan. 22 (Korea Bizwire) — South Korea’s finance ministry has increasingly found itself in hot water over growing calls to dig deeper into state coffers in response to the pandemic-caused economic slump, as it is wary of the country’s ballooning debt. A row over the finance ministry’s fiscal role reignited this week after Prime [...]

Major Foreign IBs Revise Up S. Korea’s 2021 Growth Outlook

Major Foreign IBs Revise Up S. Korea’s 2021 Growth Outlook

SEOUL, Jan. 7 (Korea Bizwire) — Major foreign investment banks (IBs) have slightly raised their forecasts for South Korea’s economic growth for 2021 despite the coronavirus pandemic, a report showed Thursday. As of end-December, nine major global IBs, including Barclays and Goldman Sachs, forecast the South Korean economy to grow 3.4 percent this year, up [...]

S. Korea’s Trade Deficit with Japan Inches Up amid Weaker Boycott

S. Korea’s Trade Deficit with Japan Inches Up amid Weaker Boycott

SEOUL, Nov. 26 (Korea Bizwire) — South Korea’s trade deficit with Japan edged up in the first 10 months of the year, data showed Thursday, as a local boycott of Japanese consumer goods shows signs of losing steam. Seoul posted a trade deficit of US$16.56 billion in the January-October period, compared with $16.42 billion during [...]