SEOUL, Apr. 12 (Korea Bizwire) — The South Korean economy has largely been on a recovery track on the back of robust growth of exports and manufacturing production, but domestic demand remains weak and uncertainties have grown over global prices of raw materials, the finance ministry said Friday. “Our economy has seen an economic recovery [...]
SEOUL, Apr. 12 (Korea Bizwire) — South Korea’s central bank froze its key rate for the 10th straight session Friday, saying that its current restrictive stance will be maintained for a sufficient period of time amid woes over high inflation and household debt. In a widely expected decision, the monetary policy board of the Bank [...]
SEOUL, Apr. 2 (Korea Bizwire) — South Korea’s inflation stayed over 3 percent for the second consecutive month in March on record prices of fruits and rising global oil prices, data showed Tuesday. Consumer prices, a key gauge of inflation, rose 3.1 percent on-year last month, following a 3.2 percent increase the previous month, according [...]
SEOUL, Mar. 29 (Korea Bizwire) — South Korea’s industrial output rose for the fourth consecutive month in February on the back of increasing semiconductor production, but retail sales fell amid high inflation, data showed Friday. Industrial output increased 1.3 percent on-month last month, following a 0.4 percent rise the previous month, according to the data [...]
SEOUL, Mar. 28 (Korea Bizwire) — South Korea has failed to be added to the World Government Bond Index (WGBI) run by FTSE Russell, the London-based organization said Thursday. South Korea will remain on its watch list for a potential upgrade to a market accessibility level of 2 from 1 and consideration for inclusion in [...]
SEOUL, Mar. 28 (Korea Bizwire) — South Korea’s financial system remains relatively stable, but debt payment burden and asset deterioration may increase amid extended monetary tightening, a central bank report showed Thursday. In its report on financial stability, the Bank of Korea (BOK) said despite woes over a possible rise in soured property development-related loans [...]
SEOUL, Mar. 26 (Korea Bizwire) — South Korea’s consumer sentiment snapped an improvement for the third consecutive month in March amid soaring prices of farm goods and a slump in private spending, a central bank poll showed Tuesday. The composite consumer sentiment index stood at 100.7 this month, down from 101.9 the previous month, according [...]
SEOUL, March 25 (Korea Bizwire) – Finance Minister Choi Sang-mok said Monday that the government will devise measures to boost the competitiveness of the farming industry and revamp its logistics structure as surging prices of fruits and fresh food items have pushed up inflation. Choi announced the plan during a visit to a major discount [...]
SEOUL, Mar. 19 (Korea Bizwire) – As stubbornly high inflation persists, South Korean households are tightening their purse strings even on private education expenses, long considered the last bastion of family budgets, according to data released on March 18. BC Card, a major credit card company, reported a staggering 24 percent year-over-year plunge in education-related spending [...]
SEOUL, Mar. 18 (Korea Bizwire) — Finance Minister Choi Sang-mok on Monday called for extra effort by government officials to bring inflation under control amid weak private consumption, his office said. Choi made the call during a meeting with officials of the Ministry of Economy and Finance, where he also instructed them to come up [...]