SEOUL, Dec. 10 (Korea Bizwire) – South Korea’s economy is grappling with mounting challenges, as domestic construction downturns and global trade uncertainties weigh heavily on growth prospects, according to a report by the Korea Development Institute (KDI) on December 9. While the report notably avoided direct mention of the ongoing political turmoil surrounding President Yoon [...]
SEOUL, Aug. 24 (Korea Bizwire) — The Korea Economic Research Institute held a seminar on August 23 regarding social mobility and education, where Professor Lee Joo Ho of the Korea Development Institute presented his findings on the correlation between children’s school grades and a family’s economic, social and cultural standing (ESCS). His research was based [...]
SEJONG, June 8 (Korea Bizwire) – The South Korean economy has been on a modest recovery path thanks to brisk exports and investment despite a slight downturn in industrial output, a state-run think tank said Thursday. “The Korean economy maintained a moderate improvement led by exports and investment demand, although industrial output growth moderated slightly,” [...]
SEJONG, May 31 (Korea Bizwire) – South Korea should convince China to accept the ongoing deployment of an advanced U.S. missile defense shield on its soil instead of trying to reverse the move, which could send the wrong signals to both Washington and Beijing, a scholar has said. The installation of a Terminal High Altitude [...]
SEJONG, Apr. 11 (Korea Bizwire) — South Korea’s multi-billion-dollar project to build a new airport in the country’s southeast got a boost as it passed a crucial preliminary feasibility test, the transport ministry said Monday. The Korea Development Institute (KDI), a state-run think tank, approved the feasibility study for the 5.97 trillion won (US$5.2 billion) [...]
SEJONG, March 31 (Korea Bizwire) – South Korea’s online sales to foreign customers nearly tripled last year from a year earlier on the back of rising demand for domestically produced cosmetics and clothing by Chinese consumers, a report showed Thursday. South Korean retailers sold an estimated US$130 million worth of goods to overseas customers through [...]
SEJONG, May 21 (Korea Bizwire) — The real value of the South Korean won against other key currencies hit an over seven-year high in April, data showed Thursday, in a negative development for the country’s exports. The real effective exchange rate (REER) of the South Korean won stood at 115.34 points last month, the highest level [...]
SEOUL, March 8 (Korea Bizwire) — A majority of economic experts in South Korea forecast that the economic growth rate for this year will be lower than what the government and the central bank predict, seeing the current situation as a “crisis,” a survey showed Sunday. According to the survey of 34 experts from private [...]
SEOUL, July 25 (Korea Bizwire) – Korea’s government, financial authorities and credit card companies have sat down to discuss implementing a cutback in credit card fees for public interest-serving institutions. Within the latter half of this year, the Credit Finance Association of Korea is planning on commissioning policy think tanks such as the Korea Development Institute for [...]
SEOUL, July 8 (Korea Bizwire) – The government’s regulation on credit card companies for the consumer rights has backfired. Its regulation on additional services provided by the companies was only proved to be a business ruse to cut their benefits to customers by reducing the length of its service. In April 2010, the Korean government [...]