Choi Kyung-hwan Archives | Be Korea-savvy
China’s Stock Rout may Increase Financial Volatility

China’s Stock Rout may Increase Financial Volatility

SEOUL/SEJONG, Jan. 5 (Korea Bizwire) – China’s sudden stock crash could increase financial volatility requiring tougher government monitoring though its impact on the local market would be limited, South Korea’s top economic policymaker said Tuesday. In a meeting with leaders from the country’s financial sector in Seoul, Finance Minister Choi Kyung-hwan pointed out Monday’s crash [...]

Moody’s Rating Upgrade to Better Cushion S. Korea from U.S. Rate Woes

Moody’s Rating Upgrade to Better Cushion S. Korea from U.S. Rate Woes

SEOUL/SEJONG, Dec. 21 (Yonhap) - Moody’s Investor Service’s latest upgrade of South Korea’s credit rating is expected to better insulate the country from a recent U.S. interest rate hike and other external uncertainties, Seoul’s top economic policymaker said Sunday. In a news conference held in Seoul, Finance Minister Choi Kyung-hwan stressed the global credit appraiser’s decision to give Asia’s fourth largest economy an Aa2 rating is a clear sign of its confidence in the [...]

Weak Exports Impacting Industrial Output and Investments

Weak Exports Impacting Industrial Output and Investments

SEOUL/SEJONG, Nov. 27 (Korea Bizwire) - Weak exports are starting to impact industrial output and business investment in South Korea, the country’s top economic policymaker said Friday. Chairing the meeting of foreign economy-related ministers in Seoul, Finance Minister Choi Kyung-hwan said outbound shipments in October plunged at the sharpest rate in more than two years. “This [...]

S. Korea Cuts 2015 Growth Outlook to 3.1 pct

S. Korea Cuts 2015 Growth Outlook to 3.1 pct

SEJONG, Jun. 25 (Korea Bizwire) — South Korea lowered its 2015 economic growth outlook to 3.1 percent Thursday, citing slumping exports and the negative impact of the Middle East Respiratory Syndrome (MERS) outbreak on Asia’s fourth-largest economy. The revised estimate represents a drop from the 3.8 percent gain predicted late last year and is lower [...]

S. Korea, Britain Agree to Boost Yuan Hubs, AIIB Transparency

S. Korea, Britain Agree to Boost Yuan Hubs, AIIB Transparency

LONDON, Jun. 5 (Korea Bizwire) — South Korea and Britain will work together to become viable offshore yuan trading hubs and enhance transparency in the China-led infrastructure development bank, the finance ministers from the two countries said Thursday. In a meeting in London, Choi Kyung-hwan and his British counterpart, George Osborne, stressed that the two countries [...]

Finance Minister Urges Smooth Unwinding of QE Programs

Finance Minister Urges Smooth Unwinding of QE Programs

PARIS/SEJONG, Jun. 4 (Korea Bizwire) — South Korea’s finance minister called on major economies Wednesday to wind down their quantitative easing programs smoothly in order to ensure the stable growth of the global economy. Speaking at the economic outlook session at this year’s Organization for Economic Cooperation and Development’s (OECD) ministerial meeting in Paris, Finance Minister [...]

Wage Peak System to Be Used to Help Young People Get Jobs

Wage Peak System to Be Used to Help Young People Get Jobs

WASHINGTON, April 18 (Korea Bizwire) — South Korea will push for the introduction of a market-wide wage peak system as part of its efforts to help young people find jobs, the country’s top economic policymaker said Saturday. Speaking to reporters in Washington, Finance Minister Choi Kyung-hwan, said while the tripartite government-labor-management dialogue platform broke down [...]