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S. Korean Economy Faces Heightened Uncertainty amid 4th Wave of Pandemic

S. Korean Economy Faces Heightened Uncertainty amid 4th Wave of Pandemic

SEOUL, Aug. 8 (Korea Bizwire) — The South Korean economy is facing heightened uncertainty as the recovery of domestic demand is likely to slow amid a recent spike in COVID-19 cases, a state-run think tank said Sunday. Asia’s fourth-largest economy is on a recovery track amid solid exports, but the toughest-ever virus curbs, in effect [...]

67 pct of S. Koreans Say Vaccination Passports Will Help Economy: Poll

67 pct of S. Koreans Say Vaccination Passports Will Help Economy: Poll

SEOUL, May 9 (Korea Bizwire) — Nearly 70 percent of South Koreans believe that the use of a vaccination passport, which proves that a person has been fully vaccinated against the virus, will help the economy, a poll showed Sunday. The poll from the Federation of Korean Industries, a major business lobbying group here, showed [...]

S. Korea’s 2020 Growth Ranks 3rd Among Major Nations

S. Korea’s 2020 Growth Ranks 3rd Among Major Nations

SEOUL, Feb. 23 (Korea Bizwire) — South Korea’s economic growth rate ranked third among major economies across the globe in 2020 despite an on-year contraction due to the coronavirus pandemic, data showed Tuesday. Asia’s fourth-largest economy contracted 1 percent last year from a year earlier, but it posted the third-best performance among 15 major nations, [...]

Foreign IBs Raise S. Korea’s 2021 Growth Outlook

Foreign IBs Raise S. Korea’s 2021 Growth Outlook

SEOUL, Jan. 27 (Korea Bizwire) — Several foreign investment banks (IBs) have revised up their forecasts for South Korea’s 2021 economic growth following the economy’s relatively good performance last year, a report showed Wednesday. Out of six foreign IBs and one research institute that published reports on Asia’s fourth-largest economy Tuesday, three upgraded their growth [...]

2021 Investment Outlook: Asia and Emerging Markets Poised to Lead Global Economic Recovery

2021 Investment Outlook: Asia and Emerging Markets Poised to Lead Global Economic Recovery

HONG KONG and SINGAPORE, Dec. 28 (Korea Bizwire) — 2020 has been an eventful year which saw some of the toughest social, economic and political challenges in recent times. While stabilization of markets seems to be within reach with the introduction of new COVID-19 vaccines and new leadership in the US, investors should expect the [...]

Major Foreign IBs Cut S. Korea’s Growth Outlook on Virus Resurgence

Major Foreign IBs Cut S. Korea’s Growth Outlook on Virus Resurgence

SEOUL, Oct. 12 (Korea Bizwire) — Major foreign investment banks (IBs) have downgraded their forecasts for South Korea’s economic growth following the resurgence of the coronavirus here, a report showed Monday. As of end-September, nine major global IBs, including Barclays and Goldman Sachs, forecast Asia’s fourth-largest economy to shrink 1.4 percent this year, compared with [...]

S. Korea Fares Better than Other OECD Members in Q2

S. Korea Fares Better than Other OECD Members in Q2

SEOUL, Oct. 4 (Korea Bizwire) — South Korea performed relatively better in terms of economic growth over the second quarter of the year compared to other members of the Organization for Economic Cooperation and Development (OECD), data showed Sunday. South Korea’s economy contracted 3.2 percent on-year in the April-June period, which marked the smallest decrease [...]