SEJONG, Dec. 15 (Korea Bizwire) – South Korea will take firm and resolute action to stabilize the local financial markets to prevent any fallout from the latest U.S. rate hike, the government said Thursday. Earlier in the day, the U.S. Federal Reserve raised its key interest rate by a quarter of a percentage point to [...]
SEOUL, Dec. 7 (Korea Bizwire) – Possible trade friction between the United States and China could deal a blow to South Korea’s exports, a report said Wednesday. There are concerns that U.S. President-elect Donald Trump’s looming protectionist policies could spark trade friction between the world’s two biggest economies. Trump has said he would instruct his [...]
SEOUL, Dec. 7 (Korea Bizwire) – The turnaround in South Korea’s exports is expected to continue at a steady pace next year, helped by moderate growth in the world economy, according to forecasts by foreign investment banks on Wednesday. Solid growth in emerging markets and a sustained rise in commodity prices are likely to increase [...]
SEOUL, Dec. 5 (Korea Bizwire) – The ongoing political crisis surrounding the embattled South Korean president is incapacitating government offices and businesses that are facing allegations of involvement in the scandal, with officials now struggling to establish economic policies and business strategies for 2017, which is only a month away. The Ministry of Strategy and [...]
SEOUL, Nov. 30 (Korea Bizwire) – A local credit card company, BC Card, is predicting that those in their 40s to 50s who share personal interests with Deokhu (mania) or the younger generation will stand out as big players in terms of consumption next year. On November 29, BC Card announced its report of predicted consumption [...]
SEOUL, Nov. 29 (Korea Bizwire) – Eight out of ten Korean small and medium-sized companies have a very unfavourable view of the current state of economic affairs in Korea. A recent survey related to the current financial environment, targeting employees in three hundred SMEs, showed that 85.7 percent thought the country was in a financial [...]
SEOUL, Nov. 28 (Korea Bizwire) – Income among households in their 40s decreased in the third quarter of 2016, the first time that earnings in this demographic have dropped since figures were first tabulated in 2003. The drop in income is indicative of the accelerating Korean economic crisis, as those in their 40s are usually [...]
SEOUL, Nov. 24 (Korea Bizwire) – South Korea will raise more than enough funds to make the upcoming 2018 Winter Olympic Games in PyeongChang one of the most successful and well-organized events, the chief of the country’s organizing committee said Thursday. Lee Hee-beom, a former commerce minister, insisted the 2018 games will also boost the [...]
SEJONG, Nov. 22 (Korea Bizwire) – Third-quarter household spending shows a persistent slump in consumption, including in basic foodstuffs, the state statistics office said Tuesday. Expenditures for foodstuffs and non-alcoholic beverages by households of two persons or more fell 3.2 percent in the July-September period compared to the same months last year, according to Statistics [...]
SEOUL, Nov. 18 (Korea Bizwire) – The quality of life for South Koreans ranks 47th in the world, as the country’s economic stature is undercut by long working hours and unemployment, a local report said Friday. The annual report from the Institute for International Trade (IIT), a research arm of the Korea International Trade Association, [...]