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Finance

Economy

Fri, October 18, 2019 | 18:55

Korean economy feared to fall into liquidity trap

Concerns are rising over the economy falling into a liquidity trap amid reduced corporate investment and consumption, with money increasingly trapped in bank deposits despite the record low interest rate. Under such circumstances, it is feared that the central bank's rate cut will not act as a stimulus.

2019-10-18 16:29

Is job market finally bottoming out?

Korea created more than 300,000 jobs for two consecutive months from August. The nation's employment rate also reached a 23-year-record-high September figure in 23 years while the unemployment rate was also the lowest over the past five years last month.

2019-10-16 20:11

IMF cuts Korea's 2019 growth outlook to 2.0%

The International Monetary Fund (IMF) lowered Korea's 2019 growth forecast to 2.0 percent from 2.6 percent, Tuesday, citing China's slowing growth and the spillover effect of the neighboring country's trade war with the United States.

2019-10-15 22:01

Gentrification, USFK relocation kill Itaewon

A renovated three-story building, across the street from the Hamilton Hotel, has remained vacant for nearly a year. Despite its proximity to Itaewon Station on Seoul Metro Line No. 6 and a large floating population at night, the building's owner is experiencing difficulty in finding new tenants. “There were a number of franchise restaurants, coffee shops and clothing stores i...

2019-10-14 17:34

Provincial economies suffer deepening slump

Korea's southern regions struggling with stagnant shipbuilding, shipping and auto industries, have seen consumer prices drop for the past few months, data showed Tuesday.

2019-10-10 17:43

Overseas tax evasion still rampant

Nearly 18 percent of tax levied over the past five years on overseas assets or income remains uncollected, a lawmaker said Thursday.

2019-10-10 17:42

Korea ranks 13th in global competitiveness: report

South Korea's ranking in global competitiveness rose by two notches this year due to macroeconomic stability and a high level of information technology, a report showed Wednesday. Asia's fourth-largest economy ranked 13th out of 141 countries surveyed in the World Economic Forum (WEF) competitiveness index in 2019, up from 15th the previous year.

2019-10-09 09:31

No. of bankruptcies filed by 20s rising

The number of bankruptcy requests filed by those aged between 20 and 29 has been continuing to rise over the past few years, driven by unpaid student loans and living expenses, data showed Sunday.

2019-10-06 17:22

Trade war forces Korea to walk US-China tightrope

Korea, whose economy is heavily dependent on trade with the world's two largest economies, may be in the trickiest of positions at a time when the international trade order is changing. It appears the country needs to make a strategic decision in an era defined by two rival blocs led, respectively, by the U.S. and China.

2019-10-06 17:22

Retail vacancies in Seoul surge amid slowdown

The amount of empty retail space in downtown Seoul areas is skyrocketing as an increasing number of beleaguered small-scale shop owners there are going out of business amid the slowing economy, according to government data.

2019-10-02 19:26

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