SEOUL, Feb. 8 (Korea Bizwire) – South Korea’s economic outlook looks rather disappointing, at least from a PwC projection in its latest report, The Long View (How will the global economic order change by 2050?). According to the consulting company, South Korea’s GDP ranking will drop from 13th in 2016 to 14th in 2030, and [...]
SEJONG, Sept. 20 (Korea Bizwire) – South Korea will likely see its gross domestic product (GDP) per capita touch the landmark US$30,000 level in 2018, a parliamentary report predicted Tuesday. If the $30,000 plateau is attained in two years, it will have taken 12 years since South Korea reached the $20,000 level in 2006. Other [...]
SEOUL, Sept. 2 (Korea Bizwire) – South Korea’s economy grew at a faster-than-expected pace in the second quarter from three months earlier on increased local demand and exports, central bank data showed Friday. In the April-June period, the country’s gross domestic product (GDP) expanded 0.8 percent from the previous quarter, accelerating from a 0.5 percent [...]
SEOUL, June 6 (Korea Bizwire) – South Korea’s weakening export growth may hurt the country’s growth by 0.2 percentage point this year as global demand remains sluggish and uncertainties involving a possible U.S. rate hike this month remain high, a parliamentary agency said Monday. The country’s weak export growth will continue to weigh on its [...]
SEOUL, March 25 (Korea Bizwire) – South Korea’s per capita income dropped in 2015 from the previous year, marking the first on-year drop in six years even though the decline was largely attributed to the depreciation of the local currency against the U.S. dollar. In 2015, the country’s per capita gross national income (GNI) came to [...]
SEOUL, March 2 (Korea Bizwire) – The gap between South Korea’s gross domestic product (GDP) per capita and that of Japan narrowed in 2015, mainly due to Asia’s No. 2 economy continuing to wrestle with a prolonged slump, a report by a local economic think tank showed Tuesday. South Korea’s GDP, which came to US$27,226 in 2015, is equal to 84percent of the $32,432 posted by Japan, data compiled [...]
SEOUL, Sept. 4 (Korea Bizwire) — Nearly half of South Korea’s top businesses are expected to see their sales shrink this year due to a global economic slowdown and weak domestic demand, market observers said Friday. According to market analysts, only 56 percent of the country’s 300 largest firms by stock market capitalization are expected to [...]
SEOUL, Jun. 2 (Korea Bizwire) — Korean exports in dollar value decreased 10.9 percent in May from the same period last year, due to the weakening Yen, slowing economies in the U.S. and China, a loss of competitiveness for Korean companies, and low oil prices. Korean exports have decreased for five months in a row, [...]
SEOUL, March 25 (Korea Bizwire) — The South Korean economy expanded 3.3 percent in 2014 as increased facility investments offset slowing growth in construction investment and exports, the central bank said Wednesday. The revised 2014 reading by the Bank of Korea (BOK) is on par with an earlier estimate of 3.3 percent released in January. It [...]
SEOUL, May 28 (Korea Bizwire) – The Korea Development Institute, South Korea’s think tank, has downgraded the estimated economic growth on the ground that the aftereffect caused by the Sewol ferry incident and lower consumer spending druing the first quarter will linger on for some time now. On May 27, the state-run economic think tank predicted this [...]