SEOUL, Oct. 22 (Korea Bizwire) — More than 6 out of 10 South Korean consumers think that free trade agreements (FTAs) have had a positive impact on the local market. A survey of 3,000 men and women aged between 25 and 59 by the Korea Consumer Agency showed 67.5 percent of the respondents saying that [...]
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 [...]
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 [...]
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. [...]
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 [...]
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 [...]
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 [...]
SEOUL, Aug. 21 (Korea Bizwire) — South Korea struck a free trade deal with Israel as part of efforts to strengthen economic ties with the Middle East country and cope with the growing protectionism around the globe, Seoul’s trade ministry said Wednesday. In Jerusalem, South Korean Trade Minister Yoo Myung-hee and her counterpart Eli Cohen [...]
SEJONG, Aug. 7 (Korea Bizwire) — Japan did not unveil additional goods on Wednesday to be subject to tougher regulations when shipped to South Korea, but made it clear that it would implement export-related regulations “strictly,” Seoul’s trade ministry said. Seoul has been worrying that Tokyo may include more goods on the list of strictly [...]
SEOUL, Aug. 6 (Korea Bizwire) — Japan is expected this week to unveil goods that will be subject to stricter regulations when exported to South Korea in addition to three key materials crucial to the production of chips and display panels, government sources here said Tuesday. Last week, Tokyo removed South Korea from the so-called [...]