SEOUL, Jan. 13 (Korea Bizwire) — The South Korean won experienced a sharp decline last month, mirroring the drop in Russia’s ruble amid ongoing conflict, according to recent data. This currency depreciation, driven by the December 3 martial law incident, has heightened concerns over inflation in a country heavily reliant on imports. As the high exchange [...]
SEOUL, Jan. 13 (Korea Bizwire) — The debt burden among South Korea’s self-employed in their 50s and 60s has surged to unprecedented levels, raising concerns over financial stability amid sluggish domestic demand and persistently high interest rates. According to data submitted by the Financial Supervisory Service (FSS) to Democratic Party lawmaker Lee Kang-il, as of November [...]
SEJONG, Jan. 13 (Korea Bizwire) — South Korea’s export landscape with China has undergone a significant transformation over the past decade, with traditional intermediate goods exports such as displays, computers, auto parts, steel sheets, and petroleum products sharply declining. Conversely, South Korea’s imports of Chinese intermediate goods, particularly battery materials, batteries, and auto parts, have [...]
SEOUL, Jan. 9 (Korea Bizwire) — A new survey reveals that one in three small business owners in Korea increased their borrowing in 2024, highlighting the ongoing financial challenges faced by the sector. According to a study released on January 8 by the Korea Federation of SMEs (KBIZ), 34.9% of small business owners who hold loans [...]
SEOUL, Jan. 8 (Korea Bizwire) — Global investment banks are increasingly sounding alarm bells over South Korea’s unprecedented low growth trajectory amid continuing political instability, with attention turning to a potential interest rate cut in January. JP Morgan has issued the most pessimistic outlook, projecting just 1.3% growth for the country in 2025, as domestic economic [...]
SEOUL, Jan. 7 (Korea Bizwire) — Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry and SK Group, highlighted the pressing challenges of global economic shifts during the “2025 Seoul New Year’s Meeting” on January 6. Speaking at the Seoul Chamber of Commerce in Jung-gu, he identified three major disruptions—U.S.-led tariff hikes, inflationary [...]
SEOUL, Jan. 3 (Korea Bizwire) — Advertising industry experts predict a significant downturn in South Korea’s advertising market this year, citing growing political uncertainties and deteriorating economic conditions. The absence of major sporting events like the Olympics or World Cup has further dampened prospects for market recovery. As concerns mount over economic growth potentially dropping to [...]
SEOUL, Jan. 3 (Korea Bizwire) — A credit rating agency has warned that South Korea could face downward pressure on its sovereign credit rating toward the end of the year due to the government’s decision to expand treasury bond issuance. While global credit rating agencies have indicated that political uncertainties, including martial law and impeachment proceedings, [...]
SEOUL, Jan. 2 (Korea Bizwire) — South Korea’s economy is forecast to expand 1.8 percent this year, the government said Thursday, emphasizing “stable management” as its primary policy focus amid unprecedented levels of uncertainty. The latest projection for Asia’s fourth-largest economy falls below the Bank of Korea’s forecast of 1.9 percent and the estimates of [...]
SEOUL, Jan. 2 (Korea Bizwire) — Acting President Choi Sang-mok said Thursday the government will consider implementing additional measures to stimulate the economy in the first quarter, if necessary, amid projections of slow growth for the year. “Considering significant domestic and international uncertainties, (the government) will reassess overall economic conditions during the first quarter, including [...]