SEJONG, Apr. 19 (Korea Bizwire) — The International Monetary Fund (IMF) on Tuesday raised its forecast for South Korea’s economic growth this year to 2.7 percent thanks to clear signs of a turnaround in the global economy. The latest forecast is up 0.1 percentage point from the 2.6 percent growth the agency estimated in its [...]
SEOUL, Aug. 12 (Korea Bizwire) – South Korea has to carry out sweeping reform of the service industry as a first step to transform the manufacturing-focused economy into the service sector-led economy, a Korea-born official from the International Monetary Fund (IMF) said Friday. “The South Korean economy has been steered by the manufacturing industry and [...]
SEOUL, Dec. 27 (Yonhap) – South Korea needs to revive its economic dynamics to achieve sustainable growth, as it may face a drop in growth potential due to the rapidly aging population, a director of the International Monetary Fund (IMF) said Sunday. “The Bank of Korea (BOK) estimated that South Korea’s growth potential is around 3 to 3.2 percent, but it will likely drop to below 3 percent in the long-term due to structural [...]
WASHINGTON, Feb. 6 (Korea Bizwire) — The International Monetary Fund predicted Friday that South Korea’s economy would expand 3.7 percent this year, down 0.3 percentage point from its earlier forecast. The forecast was included in the agency’s “Global Prospects and Policy Challenges” report submitted to a meeting of finance ministers and central bank chiefs of [...]
![[Quote] GM Korea CEO Strikes Back at Former Daewoo Chairman’s Remarks](http://koreabizwire.com/wp/wp-content/uploads/2014/08/kim-woo-jung.jpg "[Quote] GM Korea CEO Strikes Back at Former Daewoo Chairman’s Remarks")
“I have had a hard enough time so far. (after the Daewoo Group’s break-up and his being charged with many convictions in late 1990s). And I guess it’s about time to rectify what has gone wrong with general perceptions and evaluations of the Daewoo Group, which suffered unfair treatment when the Asian financial crisis folded [...]
SEOUL, May 23 (Korea Bizwire) – Samsung has not paid back US$100 million of US bonds and is still paying interest on them for 17 years since it issued the bonds in 1997, just before the Asian financial crisis in Korea. Considering Samsung’s current cushy financial situation with more than 150 trillion won ($146.4 billion) [...]