SEOUL, Jan. 26 (Korea Bizwire) — The South Korean won experienced its steepest decline in real effective exchange rate (REER) in over two years last December, following political instability that shook financial markets. According to data released by the Bank for International Settlements (BIS) on January 26, South Korea’s REER index stood at 91.03 (2020=100) at [...]
WASHINGTON, April 19 (Korea Bizwire) – The won-dollar exchange rate may move toward stabilization if tensions in the Middle East do not escalate further, the chief of South Korea’s central bank forecast Friday, noting “many uncertainties” stemming from developments in the region. Bank of Korea (BOK) Gov. Rhee Chang-yong made the prediction as concerns over [...]
SEOUL, Dec. 29 (Korea Bizwire) – Korea’s 2014 tax revenue will likely miss its target by 11.7 trillion won (US$ 10.6 billion) to 12.7 trillion won (US$ 11.5 billion), according to a statement from the National Assembly Budget Office (NABO) on December 28. Korea’s tax revenue shortfall has been on the rise from 2.8 trillion won (US$ [...]
SEOUL, May 26 (Korea Bizwire) – The Korean economy is in trouble because of the strengthening won vis-à-vis the U.S. dollar. For years most exporters have been too complacent under the regime of a weak won that granted them easy access to overseas markets. Even some analysts suggest that the won-dollar exchange rate may fall [...]