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Dependence on International Trade Makes S. Korea Susceptible to Coronavirus Shocks

Dependence on International Trade Makes S. Korea Susceptible to Coronavirus Shocks

SEOUL, Feb. 24 (Korea Bizwire) — The outbreak of the novel coronavirus, which began in China, the “World’s Factory”, has cast dark clouds over the global economy. In particular, the South Korean auto industry was directly hit by the failure to obtain wiring harnesses, which has led to disruptions and shutdowns on automobile production lines. [...]

Japan Suffers More Damage amid Protracted Seoul-Tokyo Trade War

Japan Suffers More Damage amid Protracted Seoul-Tokyo Trade War

SEOUL, Dec. 15 (Korea Bizwire) — Japan suffered a wider decrease in its outbound shipments to South Korea compared with the other way around amid the monthslong trade dispute between the two Asian neighbors, data showed Sunday. Japan’s exports to South Korea reached US$15 billion over the July-October period compared with a year earlier, down [...]

S. Korea Logs First Drop in Inflation in September, Boosts Odds of Rate Cut

S. Korea Logs First Drop in Inflation in September, Boosts Odds of Rate Cut

SEJONG, Oct. 1 (Korea Bizwire) — South Korea’s headline inflation dropped for the first time in September due to a decline in farm goods and weak demand, the statistics agency said Tuesday, the latest in a series of data backing an additional rate cut for Asia’s fourth-largest economy. South Korea’s consumer prices fell 0.4 percent [...]

S. Korean Economy Shows Signs of Deflation as Consumer Prices Decline

S. Korean Economy Shows Signs of Deflation as Consumer Prices Decline

SEOUL, Sept. 9 (Korea Bizwire) — South Korea’s consumer price index declined for the very first time last month, a sign of deflation. Experts point out that declining consumer prices may become the so-called ‘new normal’ for South Korea. Statistics Korea reported that South Korea’s consumer prices reached a growth rate of 0.5 percent this [...]