SEOUL, April 13 (Korea Bizwire) — Volatility in South Korea’s foreign exchange market surged to its highest level last week since the country extended trading hours for the won–U.S. dollar market, data showed Sunday. The weekly fluctuation in the won–dollar exchange rate reached 67.6 won during the second week of April, which marked the highest [...]
SEOUL, April 11 (Korea Bizwire) — The Finance Ministry said Friday that the government will extend the tariff-rate quota system on pork and egg product imports in an effort to stabilize food prices. Starting May 1, emergency tariff quotas will be applied to 10,000 tons of raw pork for processed foods and 4,000 tons of [...]
SEOUL, April 8 (Korea Bizwire) — South Korea logged a current account surplus for the 22nd consecutive month in February on rising exports, central bank data showed Tuesday. The country’s current account surplus reached US$7.18 billion in February, following a $2.94 billion surplus the previous month, according to the data compiled by the Bank of [...]
SEOUL, April 7 (Korea Bizwire) — South Korea’s economy is facing “mounting” downside risks due to sluggish production and heightened trade uncertainties sparked by U.S. tariffs, a state-run economic think tank said Monday. “Recently, the Korean economy is facing mounting downward pressure as weakened growth in domestic and external demand has weighed on production and [...]
SEOUL, April 7 (Korea Bizwire) — The South Korean market could face heightened volatility for a longer-than-expected period due to the Donald Trump administration’s sweeping tariff policy, the central bank said Monday, calling for prompt implementation of market stabilization measures when necessary. Bank of Korea (BOK) Deputy Gov. Ryoo Sang-dai made the assessment during an [...]
SEOUL, April 6 (Korea Bizwire) — South Korea ranked 29th out of 37 major economies in terms of economic growth during the fourth quarter of 2024, as weak domestic demand and heightened political uncertainty weighed on the nation’s performance, a central bank report showed Sunday. Asia’s fourth-largest economy posted real gross domestic product (GDP) growth [...]
SEOUL, April 5 (Korea Bizwire) — In the aftermath of the Constitutional Court’s historic ruling to remove President Yoon Suk Yeol from office, small business owners across South Korea expressed cautious optimism that the political turmoil that gripped the country for the past four months might finally ease—though few expect an immediate turnaround in the [...]
SEOUL, April 4 (Korea Bizwire) — The number of South Korean companies filing for court-led restructuring has surged in early 2025, reflecting mounting pressure from the prolonged economic slowdown. According to new court data, 196 companies applied for corporate rehabilitation during January and February — a 26% increase from the same period last year. The [...]
SEOUL, April 3 (Korea Bizwire) — A decade-long analysis by the Korea Economic Research Institute (KERI) has revealed that low-income households in South Korea have borne a disproportionately heavier burden from rising prices, primarily due to steep increases in food and housing costs. The study, released Wednesday, examined consumer-perceived inflation across income brackets from 2014 [...]
SEOUL, March 27 (Korea Bizwire) — The South Korean central bank warned Thursday of the possibility of increased volatility in the financial market and its potential impact on the country’s financial stability amid weak economic growth and high uncertainties at home and abroad. The Bank of Korea (BOK) made this point in its latest financial [...]