“The outbreak is a source of concern and could hurt consumption and business investment. Everything possible is being done to contain the spread of MERS with efforts being made to check its impact on the economy and come up with counter measures to limit fallout.” “The government will come up with measures to prop up [...]
SEOUL, June 7 (Korea Bizwire) – South Korea’s government and the central bank may be pressed to conduct expansionary fiscal policy and cut the key rate on concerns that the outbreak of Middle East Respiratory Syndrome (MERS) is likely to weigh on economic growth, experts said Sunday. South Korea reported its fifth death from the [...]
LONDON, Jun. 5 (Korea Bizwire) — South Korea and Britain will work together to become viable offshore yuan trading hubs and enhance transparency in the China-led infrastructure development bank, the finance ministers from the two countries said Thursday. In a meeting in London, Choi Kyung-hwan and his British counterpart, George Osborne, stressed that the two countries [...]
PARIS/SEJONG, Jun. 4 (Korea Bizwire) — South Korea’s finance minister called on major economies Wednesday to wind down their quantitative easing programs smoothly in order to ensure the stable growth of the global economy. Speaking at the economic outlook session at this year’s Organization for Economic Cooperation and Development’s (OECD) ministerial meeting in Paris, Finance Minister [...]
SEJONG, Jun. 4 (Korea Bizwire) — The South Korean economy remains weak overall as a slump in exports weighs down on its growth, a state-run think tank said Thursday. In its latest report on the economy, the Korea Development Institute (KDI) said private consumption has improved at a moderate pace, but a drop in outbound [...]
SEOUL, Jun. 4 (Korea Bizwire) — BNP Paribas South Korea sued its customers most frequently when facing disputes with them, among all the non-life insurance companies in Korea last year. According to the Financial Consumer Agency on June 3, BNP Paribas South Korea dealt with seven dispute cases at the court, with 26.9 percent of [...]
SEOUL, Jun. 2 (Korea Bizwire) — Korean exports in dollar value decreased 10.9 percent in May from the same period last year, due to the weakening Yen, slowing economies in the U.S. and China, a loss of competitiveness for Korean companies, and low oil prices. Korean exports have decreased for five months in a row, [...]
SEOUL, May 29 (Korea Bizwire) – Severe youth unemployment is pushing unemployed university degree holders to the part-time job market. According to a report released by the Korea Research Institute for Vocation Education and Training (KRIVET) on May 28, 69 percent of unemployed university graduates have worked part-time jobs after their graduation. By gender, more women [...]
SEJONG, May 29 (Korea Bizwire) – South Korea’s industrial output dropped at a faster clip in April than a month earlier, a government report showed Friday, escalating concerns over the performance of Asia’s fourth-largest economy. According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries was down 1.2 percent [...]
SEOUL, May 28 (Korea Bizwire) – Affected by the low yen, Hyundai Motor, the largest automaker in Korea, lost its No. 2 position in the KOSPI market in terms of market capitalization to SK Hynix. On May 27, shares of the top automaker fell 1.88 percent to 157,000 won from a day earlier, shrinking its market [...]