SEOUL, Nov. 1 (Korea Bizwire) – A South Korean think tank on Wednesday revised up its growth outlook for Asia’s fourth-largest economy this year to 3.1 percent, up 0.1 percentage point from its previous estimate in July. The upward revision by the Korea Institute of Finance is higher than growth outlooks estimated by the Korean [...]
SEOUL, Oct. 31 (Korea Bizwire) — Combined sales of South Korean companies rose 2.6 percent in 2016 from a year earlier due to brisk construction and housing businesses, central bank data showed Tuesday. The Bank of Korea (BOK) said sales of the manufacturing sector fell 0.5 percent in 2016, compared to a 3-percent contraction in [...]
SEOUL, Oct. 25 (Korea Bizwire) — Foreign currency deposits at banks in South Korea fell in September from a month earlier as exporters decreased their deposits in U.S. dollars, central bank data showed Wednesday. Outstanding foreign currency deposits held by banks here reached US$63.66 billion at the end of September, down $3.48 billion from a [...]
SEOUL, Oct. 24 (Korea Bizwire) — The U.S. dollar-Korean won exchange rates were the least volatile in three years during the third-quarter of this year, despite rising tension surrounding North Korea, the central bank said Tuesday. The average gap between the daily high and low of the dollar-won exchange rates came to 4.8 won in [...]
SEOUL, Oct. 16 (Korea Bizwire) – South Korea’s household lending by banks rose at the slowest pace in five months in September, but mortgage loans continued the upside trend amid the government’s toughened financial measures to cool down the real estate market, central bank data showed Monday. Outstanding household loans from lenders came to 749.2 [...]
SEOUL, Oct. 13 (Korea Bizwire) – South Korea’s foreign exchange holdings have dropped for the first time in seven months, according to the Bank of Korea (BOK). The BOK said on Thursday that the country’s foreign exchange reserves were estimated at 364.7 billion dollars, down 170 million dollars from the previous month. It’s the first time [...]
SEOUL, Oct. 13 (Korea Bizwire) – A report published by the Bank of Korea on October 12 revealed that the nation’s economy has steadily lost its ‘dynamism’ since the early 2000′s. In the report titled “Examination of Our Economy’s Dynamism”, the Bank of Korea concludes that “it becomes evident that the dynamism of the South [...]
SEOUL, Oct. 4 (Korea Bizwire) – As the public’s interest in digital currency grows, the Bank of Korea announced on October 2nd that it will be difficult for digital currency to be used as a common currency. The Bank of Korea stated this in its report on the current status and implications of digital currency [...]
SEOUL, Sept. 29 (Korea Bizwire) – The Bank of Korea said Friday it has injected a net 7 trillion won (US$6.1 billion) in liquidity into the financial system to help keep the money supply stable ahead of the Chuseok holiday. The central bank said its money injection for the 10 business days leading up to the holiday jumped 43.3 percent from a year ago as this year’s holidayis the longest in decades. The government gave [...]
SEOUL, Sept. 21 (Korea Bizwire) — South Korea said Thursday that the Federal Reserve’s decision to trim its balance sheet is likely to have a limited impact on Asia’s fourth-largest economy. “I don’t think the Fed’s decision will have a big impact on the domestic financial markets,” Bank of Korea Gov. Lee Ju-yeol told reporters [...]