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S&P Raises S. Korea’s Growth Outlook to 2.8 % This Year on Global Recovery

S&P Raises S. Korea’s Growth Outlook to 2.8 % This Year on Global Recovery

SEOUL, Jan. 24 (Korea Bizwire) – Global rating agency Standard & Poor’s said Wednesday it has raised the outlook for South Korea’s growth rate to 2.8 percent this year from its previous forecast of 2.55 percent, citing the global economic recovery and rising exports of South Korean goods. The Bank of Korea (BOK) said last week that South Korea’s gross [...]

Central Bank Calls for Slower Pace of Rate Hike

Central Bank Calls for Slower Pace of Rate Hike

SEOUL, Dec. 19 (Korea Bizwire) – The South Korean central bank will take a more prudent stance on tightening its monetary policies in the future by checking the pace of economic recovery and inflation pressure, minutes from the latest rate-hike meeting showed Tuesday. The Bank of Korea’s (BOK) monetary policy board meeting for November raised [...]

Vulnerable Households Likely to Suffer from Increased Debt Repayments After Rate Rise: BOK

Vulnerable Households Likely to Suffer from Increased Debt Repayments After Rate Rise: BOK

SEOUL, Dec. 14 (Korea Bizwire) — An interest rate rise in South Korea will increase the debt repayment burdens of vulnerable households who over-extended themselves on mortgages during the low rate period, the central bank said Thursday. “In general, household and corporate borrowers will be able to afford an increase in debt repayment incurred by [...]

Corporate Loans Rise Slightly in Q3

Corporate Loans Rise Slightly in Q3

SEOUL, Nov. 23 (Korea Bizwire) – Loans extended to local businesses rose slightly in the July-September period from a quarter earlier on increased operating expenses and facility investments, central bank data showed Thursday. Outstanding corporate loans came to 1,036.6 trillion won (US$952 billion) in the third quarter, up 2 percent from the preceding three months, according to data compiled by the Bank of Korea (BOK). In terms of [...]