SEOUL, Feb. 26 (Korea Bizwire) — South Korea posted the second lowest economic growth during the fourth quarter of last year among major advanced and emerging economies, data showed Sunday. Asia’s fourth-largest economy shrank 0.2 percent on-quarter in the October-December period to mark the first negative growth in nine years. It was the second-lowest quarter-to-quarter [...]
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, June 5 (Korea Bizwire) – South Korea’s latest economic gains do not indicate that the country’s financial condition is on a firm track, as the increases can be attributed to investment in the construction sector and not improvements in private consumption, a research showed Sunday. Hyundai Research Institute (HRI) said in a report that [...]
SEOUL, April 16 (Korea Bizwire) – South Korea ranked 24th among 28 Organization for Economic Cooperation and Development (OECD) member countries in terms of the state growth sustainability index, a local think tank said Sunday. The Hyundai Research Institute has developed its own index to measure each state’s sustainable growth levels. South Korea scored 0.443, [...]
SEOUL, April 10 (Korea Bizwire) – Foreign investment banks (IBs) have raised their outlook on South Korea’s economic growth for this year, citing a sound recovery in exports, a report showed Sunday. The average growth estimate by 10 IBs including Barclays, Morgan Stanley and Nomura stood at an annual 2.5 percent at the end of [...]
SEOUL, Nov. 24 (Korea Bizwire) – South Korea must work to boost shipments of consumer goods to Vietnam to maintain the growth of its exports to the world’s third-largest destination for South Korean goods, a report said Thursday. The report from the Korea International Trade Association (KITA) noted Vietnam’s own exports were expected to shrink [...]
SEOUL, Nov. 2 (Korea Bizwire) – South Korea’s political uncertainties over an unfolding influence-peddling scandal could increase downside risks to the country’s economic growth, a report said Wednesday. Citigroup said the scandal involving President Park Geun-hye’s longtime confidante could shrink consumer sentiment, which in turn could further slow the economic growth rate in the fourth [...]
SEOUL, Oct. 31 (Korea Bizwire) – South Korea’s financial authorities said Monday they will scrutinize the financial health and risk factors of major builders in a move to brace for a downturn in the construction business. The authorities are set to look into the financial health of construction companies based on their semiannual reports while [...]
SEOUL, June 24 (Korea Bizwire) – The South Korean government said Friday it has revised down the annual economic growth outlook by 0.3 percentage point to 2.8 percent, in the face of sluggish global economic conditions and troubles facing certain industries. During a meeting with the ruling Saenuri Party, government policymakers said growth is expected [...]
SEOUL, Nov. 20 (Korea Bizwire) – The aging population and subsequent cut in the labor force could bring down South Korea’s growth rate to the 1-percent level in 20 years, an expert said Friday. According to government data, Koreans aged 65 or older accounted for 12.2 percent of the total population of some 50 million [...]