SEOUL, Sept. 14 (Korea Bizwire) – South Korea’s top economic policymaker on Thursday expressed concerns that ballooning household debt may narrow room for policy maneuvering in Asia’s fourth-largest economy when interest rates rise, while downplaying the chance of high household debt posing a threat to the overall economy. “The risk of massive household debt will [...]
SEOUL, Sept. 12 (Korea Bizwire) – The money supply in South Korea jumped 5.1 percent in July from a year earlier, the central bank said Tuesday. The nation’s M2 totaled 2,472.1 trillion won (US$2.18 trillion) in July, compared with 2,352.2 trillion won a year earlier, the Bank of Korea (BOK) said in a statement. The [...]
SEOUL, Aug. 28 (Korea Bizwire) — The Bank of Korea submitted a report to the Strategy and Finance Committee of the National Assembly today in which it predicted that this year’s economic growth would fall short of 3 percent despite the improving global economy and supplementary revisions made to the national budget. The central bank [...]
SEOUL, Aug. 28 (Korea Bizwire) – Corporate lending extended by South Korea’s nonbank financial institutions surged nearly 17 percent in the first half of the year amid tougher rules for household loans, central bank data showed Monday. Outstanding corporate loans by local secondary financial institutions, including credit cooperatives and savings banks, came to 113.4 trillion [...]
SEOUL, Aug. 21 (Korea Bizwire) – Despite boasting the highest number of industrial robots per worker, South Korea is lagging far behind the U.S., Europe and Japan when it comes to technology in robot manufacturing, according to a new report. The report on the global robotics industry released by the Bank of Korea on Sunday says [...]
SEOUL, Aug. 17 (Korea Bizwire) – Foreign currency deposits held by banks operating in South Korea rose in July from a month earlier as exporters increased their deposits of dollar-denominated earnings, central bank data showed Thursday. Outstanding foreign currency deposits held by local lenders, domestic and foreign, reached US$69.11 billion in July, up $5.5 billion [...]
SEOUL, Aug. 3 (Korea Bizwire) — A new report has claimed South Korea’s ageing population will reshape the landscape of the country’s industry. The report from the Bank of Korea (BOK) released on Wednesday discusses the relationship between an ageing population and industrial structure, welfare and the healthcare service industry. In the report, Kang Jong-gu, the [...]
SEOUL, Jul. 31 (Korea Bizwire) — A local think tank said Monday that it has revised up South Korea’s growth forecast for this year on the back of increased exports amid the global economic recovery. The Korea Institute of Finance adjusted the country’s gross domestic product growth to 3 percent, up 0.2 percentage point from [...]
SEOUL, Jul. 26 (Korea Bizwire) — South Korea’s rapidly aging population is likely to reduce the nation’s overseas equities investment as seniors will likely move to sell assets due to falling living standards, researchers at the Bank of Korea (BOK) said Wednesday. As the global financial markets become more interconnected, older people will have a [...]
SEOUL, July 10 (Korea Bizwire) – According to data released by the OECD and the Bank of Korea, South Korea has the lowest out-of-wedlock birth rate among OECD member countries. The findings, which should not come as a surprise to those who know South Korea well, are in line with the country’s anemic birth rate [...]