SEOUL, May 2 (Korea Bizwire) — Finance Minister Choi Sang-mok vowed Thursday to stay vigilant on uncertainties regarding interest rate decisions by major economies and the Middle East crisis and to take bold market stabilization steps when necessary. Choi made the remarks during an emergency macroeconomic meeting meant to assess the Federal Reserve’s rate-setting meeting [...]
SEOUL, Apr. 25 (Korea Bizwire) — South Korea’s economy grew at the fastest pace in over two years in the first quarter of the year on the back of a continued recovery in exports and a rise in construction investment, central bank data showed Thursday. The country’s real gross domestic product — a key measure [...]
SEOUL, Apr. 25 (Korea Bizwire) — An economic surveillance organization in Asia on Thursday expected the South Korean economy to expand 2.3 percent this year on rising exports, calling for maintaining tight monetary policy to safeguard macroeconomic stability amid uncertainties, Seoul’s finance ministry said. The ASEAN+3 Macroeconomic Research Office (AMRO) made the assessment in a [...]
BUSAN, Apr. 24 (Korea Bizwire) – Eight out of ten South Koreans perceive their country as a maritime nation and believe that establishing long-term plans and expanding research and development (R&D) efforts are crucial steps toward becoming a maritime powerhouse, according to a survey conducted by the Korea Maritime Institute (KMI). Marking its 40th anniversary, the [...]
SEOUL, Apr. 19 (Korea Bizwire) – While more than half of South Koreans believe that relations with China have become strained or adversarial in recent times, an overwhelming majority still hopes the two countries can maintain friendly and cooperative ties going forward, according to the results of a poll released on April 18. The survey of [...]
SEJONG, Apr. 12 (Korea Bizwire) – The proportion of foreign residents in South Korea’s total population could rise to around 7 percent over the next two decades, according to newly released government projections that underscore the country’s changing demographics amid a declining birthrate. If current trends accelerate, one out of every 10 people in the nation’s [...]
WASHINGTON, Mar. 25 (Korea Bizwire) — U.S. think tank experts floated the idea Monday of the United States tapping into South Korea’s 105 millimeter munitions stockpile to support Ukraine’s fight against Russia, as Kyiv urgently needs artillery ammunition supplies in the ongoing war of attrition. Mark Cancian, a senior adviser at the Center for Strategic [...]
SEOUL, Mar. 19 (Korea Bizwire) — While his Los Angeles Dodgers played their two exhibition games in Seoul to prepare for their regular season openers, starting pitcher Tyler Glasnow got a close look at what the South Korean style of cheering is all about. And the American right-hander quickly became a fan of it. In [...]
SEOUL, Mar. 15 (Korea Bizwire) – South Korean citizens holding a driver’s license issued in their home country can now acquire an Ohio driver’s license without undergoing further testing, as established by a recent agreement between the two regions. The Korean National Police Agency (KNPA) announced that it had entered into a ‘Mutual Recognition Agreement for [...]
SEOUL, Feb. 29 (Korea Bizwire) — The government set this year’s budget for official development assistance (ODA) at a record high of 6.3 trillion won (US$4.7 billion) Thursday in line with efforts to take full responsibility and play a leading role as a global leader. The decision was made during a meeting of the government [...]