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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 [...]

S. Korea Needs to Act Boldly to Avoid Deflation: Krugman

S. Korea Needs to Act Boldly to Avoid Deflation: Krugman

SEOUL, Sept. 9 (Korea Bizwire) — South Korea needs to act boldly to avoid deflation, a Nobel Prize-winning economist said Monday, as Asia’s fourth-largest economy has plenty of fiscal space and favorable budget positions. Paul Krugman, an economics professor at the City University of New York’s Graduate Center, said South Korea should undertake fiscal stimulus. [...]

S. Korea’s Growth Potential Set to Decline Due to Aging Population

S. Korea’s Growth Potential Set to Decline Due to Aging Population

SEOUL, Sept. 9 (Korea Bizwire) — South Korea’s growth potential is expected to fall at a faster rate than earlier anticipated largely due to the aging of the population that will also lead to a cut in the number of eligible workers, a central bank report said Monday. The country’s growth potential for the 2016-2020 [...]

Consumer Prices Poised to Hit Record Low Growth in 2019

Consumer Prices Poised to Hit Record Low Growth in 2019

SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s consumer price growth is anticipated to hit a record low level this year due mainly to declines in prices of agricultural and petroleum products, market watchers said Sunday. South Korea’s consumer prices inched up 0.5 percent over the January-August period, marking the lowest figure since Statistics Korea [...]

S. Korean Firms Pushing for Self-reliance amid Trade Spat with Japan

S. Korean Firms Pushing for Self-reliance amid Trade Spat with Japan

SEOUL, Aug. 27 (Korea Bizwire) — An intensifying trade feud with Japan is pushing South Korean companies to look beyond their longtime business partners and enhance self-sufficiency on concerns that Tokyo’s stronger export controls could choke off their supply chains. High-tech parts and materials have been unsung heroes behind the latest smartphones and televisions made [...]