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S. Korea’s Household Debt Growth Accelerates in June

S. Korea’s Household Debt Growth Accelerates in June

SEOUL, July 9 (Korea Bizwire) — South Korea’s household debt grew at an increased speed in June, while the rise in corporate loans slowed sharply from a month earlier following the government’s stimulus measures aimed at supporting the pandemic-hit economy, central bank data showed Thursday. Fresh bank loans extended to local households came to 8.1 [...]

S. Korean Economy Tipped to Contract This Year, but Positive Growth Still Possible

S. Korean Economy Tipped to Contract This Year, but Positive Growth Still Possible

SEOUL, July 5 (Korea Bizwire) — South Korea’s economy is widely expected to suffer its first annual contraction in over a decade this year but may expand, depending on how swiftly and effectively the government implements its budget spending and how quickly the COVID-19 pandemic is brought under control, a think tank said Sunday. “Considering [...]

S. Korea Eyes Post-pandemic Economic Recovery with ‘New Deal’

S. Korea Eyes Post-pandemic Economic Recovery with ‘New Deal’

SEJONG, June 1 (Korea Bizwire) — South Korea’s economic policies to deal with the post-pandemic recovery will be backed by its “Korean-version New Deal” project that will help the nation create new growth engines and jobs once the COVID-19 outbreak wanes. The project is one of the key components in the country’s economic policy for [...]

S. Korea’s Economy Seen Contracting 1.81 pct in Q1

S. Korea’s Economy Seen Contracting 1.81 pct in Q1

SEOUL, April 20 (Korea Bizwire) — South Korea’s economy is expected to report a 1.81 percent on-quarter contraction in the first quarter of the year, a poll showed Monday, as the coronavirus pandemic crippled industrial output, consumer spending and job markets in Asia’s fourth-largest economy. It would be the sharpest quarterly contraction since the fourth [...]

Economic Activities Could Start to Get Back on Track Next Month

Economic Activities Could Start to Get Back on Track Next Month

SEOUL, April 13 (Korea Bizwire) — South Korea’s economy may start to get back on the normalization track next month at the earliest, recovering from the economic fallout from the novel coronavirus, a report suggested Monday. The report from the Hana Institute of Finance said the number of new coronavirus infection cases in China peaked [...]