SEOUL, Dec. 4 (Korea Bizwire) — The South Korean currency fell markedly against the U.S. dollar Wednesday amid political turmoil following President Yoon Suk Yeol’s now-lifted declaration of emergency martial law. The Korean won opened at 1,418.1 won per dollar, down 15.2 won from the previous session. During the nighttime offshore trading, the won had [...]
SEOUL, Dec. 4 (Korea Bizwire) — The country’s top financial regulator said Wednesday that the authorities are ready to mobilize a 10 trillion-won (US$7 billion) stock market stabilization fund to reduce any market volatility in the midst of President Yoon Suk Yeol’s surprise decision to impose martial law, which was later lifted. “We are ready [...]
SEOUL, Dec. 2 (Korea Bizwire) – Spending on clothing and footwear in South Korea has dropped to its lowest share of consumer expenditures, as domestic demand remains weak and unseasonably warm weather curbs the need for fall apparel. Data from Statistics Korea shows that in the third quarter of 2024, average monthly consumer spending per [...]
SEOUL, Dec. 2 (Korea Bizwire) – South Korea’s economy is expected to operate below its potential capacity for six consecutive years through 2025, according to new projections from the Organization for Economic Cooperation and Development (OECD), raising concerns about structural weakness in what was once one of Asia’s fastest-growing economies. Among the Group of 7 nations [...]
SEJONG, Nov. 27 (Korea Bizwire) – South Koreans experience their largest per-capita financial deficit of 40.78 million won at age 17 and reach their maximum surplus of 17.53 million won at age 43, according to new government data. Labor income begins declining after peaking at 43, leading to a return to deficit spending at age 61. [...]
SEOUL, Nov. 26 (Korea Bizwire) – “All cosmetic samples for just 10,000 won.” Such listings have become increasingly common on Danggeun Market, South Korea’s popular secondhand trading platform, reflecting a growing divide in the nation’s beauty market amid persistent inflation. While some consumers hunt for bargain cosmetics and sample-size products, others flock to luxury brands like [...]
SEOUL, Nov. 20 (Korea Bizwire) — An International Monetary Fund (IMF) team said Wednesday that South Korea’s economy is forecast to grow 2 percent next year, citing downside risks including a slowdown in trade and heightened geopolitical tensions. The latest forecast by the IMF team marked a 0.2 percentage-point drop from an earlier projection presented [...]
SEOUL, Nov. 19 (Korea Bizwire) – South Korea’s inheritance tax system, among the highest in developed nations, is hampering business continuity and economic dynamism, according to a new report released on November 18 by the Korea Chamber of Commerce and Industry (KCCI). The report, “Five Reasons Why Inheritance Tax Reform is Necessary,” comes as the government’s [...]
SEOUL, Nov. 15 (Korea Bizwire) – In response to ongoing inflation, South Korean consumers are expected to evolve beyond simple cost-cutting measures to adopt more sophisticated “wiser wallets” spending patterns in the coming year, according to a new global consumer trends report. The “2025 Global Consumer Trends Report,” released on November 14 by global data analytics [...]
SEOUL, Nov. 7 (Korea Bizwire) — Donald Trump’s return to the White House is expected to have a significant impact on the export-driven South Korean economy and increase market volatility as he has warned of protectionist policies, decoupling from China and other drastic policy shifts across the board, experts said Thursday. “If the policy stance [...]