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 [...]
SEJONG, April 6 (Korea Bizwire) – The South Korean economy has been seeing a modest recovery in recent months on the back of improvement in investment and exports, a state-run think tank said Thursday. “The Korean economy continued to grow at a moderate pace on improving investment and exports,” the Korea Development Institute (KDI) said [...]
SEOUL, April 3 (Korea Bizwire) – The Korea Institute of Finance suggested Sunday that drastically reducing household debt could shrink consumption, raising a dilemma for those crafting South Korean economic policy to combat the struggle to cope with soaring debt and waning domestic consumption. According to researcher Park Choon-sung in his report on household debt [...]
SEOUL, March 3 (Korea Bizwire) – South Korea should reduce its reliance on the U.S. economy and push to galvanize domestic demand as the world’s No. 1 economy is expected to continue its slow growth down the road, a state think tank said Friday. In a report on the future of the U.S. economy, the [...]
SEOUL, Feb. 23 (Korea Bizwire) – Trickle-down effects from major South Korean businesses, creating a flow of benefits to smaller companies, are becoming less perceptible. In a report announced Wednesday by the Korea Small Business Institute, researchers said that “there’s now very little trickle-down effects between big companies and SMEs,” based on a statistical analysis [...]
SEJONG, Feb. 17 (Korea Bizwire) – The underground economy accounted for 8 percent of South Korea’s gross domestic product (GDP) in 2015 amid the government’s efforts to reduce the black market, a state-run think tank said Friday. The Korea Institute of Public Finance (KIPF) said in its latest report that the shadow economy was estimated [...]
SEOUL, Feb. 17 (Korea Bizwire) – South Korea on Friday announced a plan to nurture 100 ‘star’ venture firms in the science and technology sectors by 2020 to secure new economic growth engines. The Ministry of Science, ICT and Future Planning reported a set of measures to Acting President and Prime Minister Hwang Kyo-ahn to [...]
SEJONG, Feb. 16 (Korea Bizwire) – The South Korean government has sent a letter of protest to international daily newspaper Financial Times (FT) over its recent news report that Seoul has intentionally devalued its currency, a government official said Thursday. In the article titled “Donald Trump’s anger at Asian currency manipulators missed target” moved on [...]
SEOUL, Feb. 15 (Korea Bizwire) – South Korea announced a package of measures Wednesday to utilize information and communications technology (ICT) and science technology to revitalize the country’s economy suffering from weak exports and flagging manufacturing sector. Under the measures discussed in a meeting presided over by Acting President and Prime Minister Hwang Kyo-ahn, the [...]