economy Archives | Be Korea-savvy
Regulator to Tighten Rules on High-risk Household Lending

Regulator to Tighten Rules on High-risk Household Lending

SEOUL, Jan. 22 (Korea Bizwire) — South Korea’s top financial regulator said Sunday that it will tighten capital regulations on high-risk household lending, in the latest move meant to slow the pace of household debt growth. The stricter regulations will be applied to banks, savings banks and insurance firms that provide loans to home buyers [...]

Positive Perception Towards SMEs at 51.4 Points: Survey

Positive Perception Towards SMEs at 51.4 Points: Survey

SEOUL, Dec. 25 (Korea Bizwie) — South Koreans’ positive perception towards small and medium-sized enterprises (SMEs) was far lower than large conglomerates, a business association said Monday. In an October survey of 1,000 people aged 20 or older, the Korea Federation of SMEs found that their positive perception towards SMEs stood at 51.4 points, down [...]

Foreign IBs Revise Up S. Korea’s Growth Outlook

Foreign IBs Revise Up S. Korea’s Growth Outlook

SEOUL, Dec. 7 (Korea Bizwire) — Major foreign investment banks (IBs) have upgraded their 2018 growth forecasts for the South Korean economy on its strong exports, a report showed Thursday. According to the report by the Korea Center for International Finance, Barclays, Goldman Sachs and seven other foreign IBs have forecast Asia’s fourth-largest economy to [...]

Global Market Improvements Fuel Upturn in S. Korea Economy Under President Moon

Global Market Improvements Fuel Upturn in S. Korea Economy Under President Moon

SEJONG, Nov. 10 (Korea Bizwire) — When President Moon Jae-in took office after his victory in the unprecedented presidential by-election in May, he was confronted with tough challenges ranging from social upheaval caused by his predecessor to heightened regional diplomatic and military tensions. One of the biggest issues confronting the chief executive was finding a [...]

S. Korea’s Growth Ranking Among OECD Drops 10 Spots

S. Korea’s Growth Ranking Among OECD Drops 10 Spots

SEOUL, Sept. 5 (Korea Bizwire) — South Korea’s economic growth ranking among major advanced and emerging economies plunged 10 spots in the second quarter from three months earlier as its recovery lost ground, data showed Tuesday. Asia’s fourth-largest economy expanded 0.6 percent on-quarter in the April-June period, compared with a 1.1 percent expansion for the [...]

Corporate Loans by Secondary Financial Institutions Up by 17 Percent

Corporate Loans by Secondary Financial Institutions Up by 17 Percent

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 [...]

S. Korea’s Exports Remain Upbeat, Gains Weighed down by Lukewarm Domestic Demand

S. Korea’s Exports Remain Upbeat, Gains Weighed down by Lukewarm Domestic Demand

SEJONG, June 9 (Korea Bizwire) – An upturn in global trade and exports has been helping the South Korean economy recover to some extent, but the gains are weighed down by flaccid domestic demand, including investment and private consumption, a government report said Friday.  “The South Korean economy has been on a upside cycle thanks [...]