SEJONG, Nov. 22 (Korea Bizwire) – Third-quarter household spending shows a persistent slump in consumption, including in basic foodstuffs, the state statistics office said Tuesday. Expenditures for foodstuffs and non-alcoholic beverages by households of two persons or more fell 3.2 percent in the July-September period compared to the same months last year, according to Statistics [...]
SEOUL, Nov. 18 (Korea Bizwire) – The quality of life for South Koreans ranks 47th in the world, as the country’s economic stature is undercut by long working hours and unemployment, a local report said Friday. The annual report from the Institute for International Trade (IIT), a research arm of the Korea International Trade Association, [...]
SEOUL, Nov. 9 (Korea Bizwire) – South Korea’s top financial regulator said Wednesday the related authorities will do their best for market stabilization with an “utmost sense of tension,” as Americans caught the world off guard by choosing Donald Trump as their next president. “Following the U.S. presidential elections, the expansion of swings at South [...]
SEOUL, Nov. 9 (Korea Bizwire) – South Korea and India on Wednesday launched a joint investment platform to deepen economic ties and corporate investments between the two nation. The investment facilitation team, called “Korea Plus,” was established after President Park Geun-hye and Indian Prime Minister Narendra Modi agreed to expand bilateral economic relations in their [...]
SEOUL, Nov. 2 (Korea Bizwire) – South Korea’s top financial regulator, nominated to lead the finance ministry, on Wednesday vowed to make all-out efforts to address the household debt problem. Yim Jong-yong, chairman of the Financial Services Commission (FSC), described it as a potential “core risk factor” especially as South Korea may have to raise [...]
SEOUL, Oct. 31 (Korea Bizwire) – A recent study from the Seoul Institute indicated that although the city’s consumer sentiment improved slightly in the third quarter, the market’s expectations for economic recovery were further downgraded. In its report 2016 Q3 Seoul Public Economy Consumer Sentiment Diagnosis (issued October 30), the city’s consumer sentiment index (CSI) [...]
SEOUL, Oct. 31 (Korea Bizwire) – More South Koreans have canceled their installment savings accounts before maturity this year, industry data showed Monday, an apparent sign that an increasing number of ordinary people are feeling the pinch from the country’s sluggish economy. The early cancellation rate of installment savings accounts at Shinhan, KB Kookmin, KEB [...]
SEJONG, Oct. 31 (Korea Bizwire) – South Korea’s industrial output dropped in September to snap a four-straight month rise on a slump in auto output and mobile devices, a government report showed Monday. Production in the mining, manufacturing, gas and electricity industries fell 2 percent last month from a year ago, according to the report [...]
SEOUL, Oct. 13 (Korea Bizwire) – South Korea’s exports are expected to receive a much-needed boost next year from more imports by its major trading partners including China and the United States, the Bank of Korea (BOK) said Thursday. In a report on global trade, the central bank analyzed the estimated income and import growth [...]
SEOUL, Oct. 13 (Korea Bizwire) – South Korea’s financial watchdog said Thursday it will step up efforts to early detect possible risks in the local banking sector amid a full-fledged corporate restructuring drive at home and unrelenting uncertainties abroad. Speaking to lawmakers, Zhin Woong-seob, governor of the Financial Supervisory Service (FSC), reminded domestic banks of [...]