BRUSSELS, April 3 (Korea Bizwire) — The top diplomats of South Korea, the United States and Japan met for talks in Brussels on Thursday, a day after U.S. President Donald Trump announced sweeping global tariffs. The talks between Foreign Minister Cho Tae-yul, and his U.S. and Japanese counterparts, Marco Rubio and Takeshi Iwaya, respectively, took [...]
SEOUL, April 3 (Korea Bizwire) — South Korea’s economy will likely face headwinds as the U.S. administration’s plan to impose “reciprocal” tariffs is expected to deal a severe blow to the country’s shipments to the United States, while seriously disrupting the global market that may again adversely affect South Korean exports, local experts said. They [...]
SEOUL, April 3 (Korea Bizwire) — Nearly half of all debts held by individuals and businesses in South Korea are real estate market-related loans, which may stymie economic growth and undermine financial stability, the central bank said Thursday. The country’s total real estate credit amounted to 1,932.5 trillion won (US$1.32 trillion) as of end-2024, accounting [...]
SEOUL, April 3 (Korea Bizwire) — U.S. President Donald Trump’s announcement on “reciprocal” tariffs Wednesday appears to have put South Korea deeper into a soul-searching mode over its growing reliance on the United States for trade, as the protectionist move further jeopardized the fate of a bilateral free trade agreement (FTA). Trump announced a 10 [...]
SEOUL, April 3 (Korea Bizwire) — A decade-long analysis by the Korea Economic Research Institute (KERI) has revealed that low-income households in South Korea have borne a disproportionately heavier burden from rising prices, primarily due to steep increases in food and housing costs. The study, released Wednesday, examined consumer-perceived inflation across income brackets from 2014 [...]
SEOUL, April 1 (Korea Bizwire) — South Korea’s household loans extended by major banks slowed in March following a sharp increase the previous month, industry data showed Tuesday. Outstanding household loans extended by five major commercial banks, including KB Kookmin Bank, Shinhan Bank and Hana Bank, stood at 738.55 trillion won(US$502 billion) at the end [...]
WASHINGTON, March 31 1(Korea Bizwire) — The U.S. Trade Representative (USTR) on Monday released an annual report on foreign trade barriers that listed South Korea’s “offset” defense trade policy, emission-related regulations on imported cars and pricing policies for pharmaceuticals to name a few. The Office of the USTR issued the 2025 National Trade Estimate Report [...]
SEOUL, April 1(Korea Bizwire) — South Korean industries stayed vigilant Tuesday over a wave of U.S. tariffs set to take effect this week, fueling concerns over the potential impact on the country’s export-driven economy, industry observers noted. On Wednesday (U.S. time), Washington is set to unveil its reciprocal tariffs, taking into account each country’s tariff [...]
SEOUL, April 1 (Korea Bizwire) — South Korea’s young adults are grappling with limited income, high debt burdens, and increasing living costs, according to the newly released 2024 Youth Financial Status Survey by the Korea Inclusive Finance Agency. The average annual income among young people aged 19 to 34 stood at ₩30.92 million (approximately $21,000 as [...]
SEOUL, April 1 (Korea Bizwire) — South Korea’s publicly listed startup firms are increasingly embracing dividend payouts, signaling a strategic shift from a growth-at-all-costs mindset to one more attuned to shareholder value and corporate transparency. Traditionally, young companies have reinvested profits to fund expansion, often overlooking dividends. But amid a rising chorus of retail investor demands [...]