SEOUL, Dec. 4 (Korea Bizwire) — About half of big firms in South Korea remain undecided on their investment plans for next year, according to a survey released Monday, an indication of how many companies are going through economic uncertainties. In the survey conducted by polling agency Mono Research on the leading 500 companies in [...]
SEOUL, Nov. 29 (Korea Bizwire) — The Organization for Economic Cooperation and Development (OECD) revised up the outlook for South Korea’s economic growth next year to 2.3 percent on a recovery in exports and eased geopolitical tensions, Seoul’s finance ministry said Wednesday. The figure marked a 0.2 percentage-point increase from its projection of 2.1 percent [...]
SEOUL, Nov. 28 (Korea Bizwire) — South Korea’s consumer sentiment fell for the fourth straight month in November amid woes over an economic slowdown and high rates, a central bank poll showed Tuesday. The composite consumer sentiment index stood at 97.2 in November, down from 98.1 the previous month, marking the lowest since April this [...]
SEOUL, Nov. 23 (Korea Bizwire) — South Korea plans to continue efforts to tame inflation amid the annual “gimjang” season during which households make kimchi ahead of winter, the deputy finance minister said Thursday. The remark followed reports that this year’s average price of making kimchi with 20 cabbages is estimated at 191,000 won (US$147), [...]
SEOUL, Nov. 17 (Korea Bizwire) — The International Monetary Fund (IMF) recommended South Korea maintain a restrictive monetary policy to bring inflation under control, though the country is expected to reach its inflation target of 2 percent by the end of next year. The organization made the call in its report on the South Korean [...]
SEOUL, Nov. 15 (Korea Bizwire) – The delinquency rate for bank credit card loans, encompassing both cash advances and card loans, has experienced a notable surge in recent times. As per a report from the Bank of Korea on Tuesday, the delinquency rate for credit card loans at general banks—encompassing both commercial and regional banks—reached 2.9 [...]
SEOUL, Nov. 14 (Korea Bizwire) – The finance ministries of South Korea and China held an inaugural meeting on bilateral economic exchanges Tuesday to discuss ways to boost cooperation on various industrial and economic issues involving major private companies, officials said. The inaugural South Korea-China economic cooperation and exchange meeting was held in the Chinese [...]
SEOUL, Nov. 10 (Korea Bizwire) – The slump in domestic consumption, fueled by high prices and interest rates, is worsening. According to third-quarter corporate results, major department stores in Korea—Lotte, Shinsegae, and Hyundai—have experienced a decline in sales compared to last year. Additionally, the growth of the convenience store industry, resilient during the COVID-19 pandemic, is [...]
SEOUL, Nov. 9 (Korea Bizwire) — South Korea has launched a government-wide special scheme on the management of prices of key food and other items to bring inflation under control, the finance ministry said Thursday. Vice ministers of all government ministries are supposed to be in charge of monitoring prices of items concerned and implementing [...]
SEOUL, Nov. 7 (Korea Bizwire) – South Korea has experienced the easing of an economic slowdown on the back of the recovery in the semiconductor industry amid persistent external uncertainties, a state-run think tank said Tuesday. “The economic slowdown begins to ease, led by the semiconductor industry, while external uncertainties persist, as indicated by high [...]