SEOUL, Oct. 31 (Korea Bizwire) – Thanks to the increasing Chinese tourists to Korea, the tourism balance of payments turned to the black for the first time in 28 months in September. Besides, Korea earned a record income from tourism during the month surpassing the US$1.7 billion mark also for the first time. According to [...]
SEOUL, Oct. 29 (Korea Bizwire) – On every last Tuesday of October, which fell on October 28 this year, Korea commemorates “Savings Day” to encourage its people to save more money for economic development since 1964. Typically, the day’s event was covered by many citations for individuals and companies who saved much. However, this year’s [...]
SEOUL, Oct. 9 (Korea Bizwire) – The share of Chinese yuan deposits in total foreign currency-denominated deposits made by Korean nationals has surpassed the 30 percent level for the first time in September this year. According to data released by the Bank of Korea on October 8, the yuan deposit balance as of the end of September [...]
![[Quote] Korean Economy Is Not Mired in Deflation, Says BOK Governor](http://koreabizwire.com/wp/wp-content/uploads/2014/09/2279829783_0a40ae24d3_z.jpg "[Quote] Korean Economy Is Not Mired in Deflation, Says BOK Governor")
“Technically speaking, Korean economy is not deemed to have entered deflation. Although consumer prices have continued to stay in the meager 1-percent range for nearly two years, this trend is largely caused by supply factors such as downward prices of agricultural products and global energy goods. The underlying inflation which indicates basic price pressure in terms [...]
SEOUL, July 30 (Korea Bizwire) – Amid an enviable situation of the rising current account surplus, a controversy broke out that claims the rising surplus is a worrisome sign. According to this argument, the rising current account surplus is largely due to weak domestic consumption and a fall in imports, rather than an indication of Korean industry’s [...]
SEOUL, May 28 (Korea Bizwire) – The Korea Development Institute, South Korea’s think tank, has downgraded the estimated economic growth on the ground that the aftereffect caused by the Sewol ferry incident and lower consumer spending druing the first quarter will linger on for some time now. On May 27, the state-run economic think tank predicted this [...]
SEOUL, May 28 (Korea Bizwire) – An analysis that Korea’s household debts have not only exceeded the OECD average but also reached the critical point which could trigger an economic crisis has come out. On May 27, at a seminar on “Korea’s Macro Leverage: the Analysis and Prospect” held by Korea Institute of Finance, a [...]
![[Stats] Mobile Banking Subscribers](http://koreabizwire.com/wp/wp-content/uploads/2014/05/모바일뱅킹등록고객수-영문.png "[Stats] Mobile Banking Subscribers")
[Related Article] Number of Smartphone Banking Users Exceeds 40 Million in Korea (Korea Bizwire, May 16) The number of people using smartphone banking service has exceeded 40 million for the first time ever in Korea. On May 15, according to a report “Domestic Banking Services in the First Quarter of 2014” by the Bank of Korea, the total [...]
SEOUL, May 16 (Korea Bizwire) – Among the total assets in Korea, land takes as much as a half, said the Bank of Korea. According to the “National Balanced Sheet (Preliminary)” released by the central bank, the total amount of assets in Korea reached 10,630.6 trillion won, 7.7 times more than the gross domestic products. The [...]
![[Kobiz Stats] Volumes of Credit and Debit Cards Approved per Year](http://koreabizwire.com/wp/wp-content/uploads/2014/04/카드발급장수-영문.jpg "[Kobiz Stats] Volumes of Credit and Debit Cards Approved per Year")
[Related Article] Number of Credit Cards Issued Has Declined for the First Time (Korea Bizwire, April 9) Last year, the number of cards issued, both credit and debit, declined for the first time. According to the Bank of Korea’s “Payment and Settlement Report for 2013,” a total of 209.03 million cards were issued last year, [...]