SEOUL/SEJONG, Jan. 28 (Korea Bizwire) – South Korea’s finance minister said Thursday that the government will make determined efforts to help companies make headway into untapped overseas markets like Iran, and revive exports as Asia’s fourth largest economy strives keep alive its economic momentum in the coming months. “We are facing challenges as uncertainties are [...]
SEOUL, Dec. 21 (Korea Bizwire) – South Korea’s economic growth rate will likely slow to 2.5 percent in 2016 due to a continued export slump and weakening domestic consumption, a leading private think tank forecast Sunday. The prediction by the LG Economic Research Institute (LGERI) marks a 0.2 percentage point drop from its earlier estimate made in September. LGERI’s revised growth projection is also lower than the government’s 3.1 percent estimate for [...]
SEOUL, Dec. 14 (Korea Bizwire) – South Korea’s exports will likely grow at a slower pace than the global average for the second straight year in 2015, a state-run think tank said Sunday, pointing to unfavorable overseas market conditions facing many Korean companies. According to the Korea Development Institute (KDI), South Korea’s exports in terms of volume are expected to remain unchanged from a year earlier. This will be lower than the 3.2 percent gain that the International Monetary Fund is [...]
SEOUL/SEJONG, Nov. 30 (Korea Bizwire) – The ratification of the free trade pact with China is expected to breathe new life into South Korea’s sagging exports and fuel the country’s growth, local observers said Monday. The bilateral free trade agreement (FTA), signed on June 1 and now passed by the National Assembly, will make South [...]