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 [...]
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 [...]
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 [...]
GYEONGGI, Aug. 26 (Korea Bizwire) — The Gyeonggi Economy & Science Institute has selected twenty business startups in the companion animal industry for the first time this year, and has started to help them develop new products. The selected startups possess new technology and outstanding ideas in premium pet food, health care products, beauty supplies, [...]
SEOUL, Aug. 6 (Korea Bizwire) — South Korea’s per capita gross domestic (GDP) is expected to edge past Italy’s in 2018, the government predicted Sunday, based on growth forecast data. The prediction, if it is met, will place the country’s per capita GDP at slightly more than US$30,000 and just over that of the European [...]
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 [...]
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, May 29 (Korea Bizwire) – The latest report from the Hyundai Research Institute has revealed that South Korea is relatively safe from economic crisis, but warns that a dependency on trade with high-risk nations must not be overlooked. The report evaluating the vulnerabilities of 26 developing economies around the world categorized the countries using [...]
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 [...]