SEOUL, March 9 (Korea Bizwire) — The outbreak of the new coronavirus here may further undermine South Korea’s economic growth if it is lasts for a significant amount of time, reports suggested Monday, while some said the virus may already have nearly halved the country’s economic growth. “Household spending in Japan and Korea are set [...]
SEOUL, Feb. 24 (Korea Bizwire) — The outbreak of the novel coronavirus, which began in China, the “World’s Factory”, has cast dark clouds over the global economy. In particular, the South Korean auto industry was directly hit by the failure to obtain wiring harnesses, which has led to disruptions and shutdowns on automobile production lines. [...]
SEOUL, Feb. 3 (Korea Bizwire) — South Korea’s much-awaited economic recovery may again be drawn out in the face of the deadly virus spreading in China and apparently to the furthest corners of the globe, including South Korea, potentially undermining global demand and supply chains for weeks or even months to come, analysts here said [...]
SEOUL, Dec. 20 (Korea Bizwire) — While the value of overseas investment increased last year, more foreigners are coming into the country. According to a report from the Hana Institute of Finance, a research unit of Hana Financial Group, overseas direct investment in the first half of this year amounted to US$36.2 billion, up 46.5 [...]
SEOUL, Dec. 15 (Korea Bizwire) — Japan suffered a wider decrease in its outbound shipments to South Korea compared with the other way around amid the monthslong trade dispute between the two Asian neighbors, data showed Sunday. Japan’s exports to South Korea reached US$15 billion over the July-October period compared with a year earlier, down [...]
SEOUL, Dec. 10 (Korea Bizwire) — South Korea may have been hit the hardest among major economies by the protracted trade dispute between the United States and China due to its high dependence on exports to the countries, a report said Tuesday. The U.S. and China are the world’s largest importers of South Korean products [...]
SEOUL, Dec. 9 (Korea Bizwire) — New foreign direct investment (FDI) pledged to South Korea has surpassed US$20 billion this year, thanks to rising interest in the nation’s materials, parts and equipment industries, government data showed Monday. South Korea received $20.3 billion worth of FDI commitments as of Dec. 2, according to the data released [...]
SEOUL, Oct. 22 (Korea Bizwire) — More than 6 out of 10 South Korean consumers think that free trade agreements (FTAs) have had a positive impact on the local market. A survey of 3,000 men and women aged between 25 and 59 by the Korea Consumer Agency showed 67.5 percent of the respondents saying that [...]
SEJONG, Oct. 1 (Korea Bizwire) — South Korea’s headline inflation dropped for the first time in September due to a decline in farm goods and weak demand, the statistics agency said Tuesday, the latest in a series of data backing an additional rate cut for Asia’s fourth-largest economy. South Korea’s consumer prices fell 0.4 percent [...]
SEOUL, Sept. 9 (Korea Bizwire) — South Korea’s consumer price index declined for the very first time last month, a sign of deflation. Experts point out that declining consumer prices may become the so-called ‘new normal’ for South Korea. Statistics Korea reported that South Korea’s consumer prices reached a growth rate of 0.5 percent this [...]