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Finance

Economy

Sun, January 17, 2021 | 09:28

'Rapid increase in household debt may trigger gov't fiscal crisis'

'Rapid increase in household debt may trigger gov't fiscal crisis'

Concerns are mounting over a rapid increase in household debt escalating into a full-fledged financial crisis, in a vicious cycle whereby lenders' compromised financials spin out of control rapidly due to reduced fiscal headroom brought on by fast-growing government debt amid the COVID-19 pandemic.

Lee Kyung-min | 2021-01-15 17:57

Is inflation returning with economic rebound?

Is inflation returning with economic rebound?

Concerns about inflation are emerging on the back of hopes of an earlier-than-expected economic recovery sparked by the beginning last December of mass vaccinations against COVID-19 in some countries - a dramatic turnaround from worries over deflation raised amid the economic meltdown brought on by the coronavirus pandemic. Some say it is too early to worry about inflation at...

Lee Kyung-min | 2021-01-14 14:41

Korea suffers biggest job losses since 1998 amid pandemic

Korea suffers biggest job losses since 1998 amid pandemic

Korea shed 218,000 jobs in 2020 from a year earlier due to the COVID-19 pandemic, the sharpest decline in employment in 22 years since 1998 when the Asia financial crisis wiped out over 1.27 million jobs, according to Statistics Korea data, Wednesday.

Lee Kyung-min | 2021-01-13 16:03

December job loss largest in over 2 decades

December job loss largest in over 2 decades

South Korea reported the largest job loss in December since 1999 as a resurgence in new coronavirus cases dealt a blow to jobs in the service sector, data showed Wednesday. For the whole of 2020, the country also shed the largest number of jobs since 1998, when the country was in the midst of the 1997-98 Asian financial crisis, according to Statistics Korea.

2021-01-13 10:36

Resumption of short-selling politicized ahead of April election

Resumption of short-selling politicized ahead of April election

A ban on short-selling, an emergency measure put in place in March 2020 to help create a floor for the then-plummeting stock market at the beginning of the COVID-19 pandemic, is increasingly becoming a political issue ahead of the upcoming by-elections in April.

Lee Kyung-min | 2021-01-12 15:46

S&P urges Korea to maintain expansionary monetary, fiscal policies

S&P urges Korea to maintain expansionary monetary, fiscal policies

S&P Global Ratings has indicated support for lower interest rates and a larger fiscal stimulus for Korea to sustain its economic recovery from the COVID-19 pandemic.

Park Jae-hyuk | 2021-01-12 15:17

Dollar gaining ground on hopes for new US president

Dollar gaining ground on hopes for new US president

The U.S. dollar is gaining ground against the Korean won on hopes of a faster-than-expected economic rebound of the world's largest economy after the Biden administration takes office.

Lee Min-hyung | 2021-01-11 16:42

Korean economy in 2021: Recovery to be determined by virus containment combined with stimulus

Korean economy in 2021: Recovery to be determined by virus containment combined with stimulus

The Korea Times conducted a series of email interviews with noted economists on their views of the 2021 economic outlook. They are INSEAD economics professor Antonio Fatas, Moody's Investors Service Vice President and Sovereign Risk Group Senior Credit Officer Christian de Guzman, Fitch Ratings Asia Sovereign Ratings Director Jeremy Zook, Northwestern University macroeconomis...

Lee Kyung-min | 2021-01-05 17:17

[Contribution] Asia's outlook for 2021 looks rosy but with important downward risks

[Contribution] Asia's outlook for 2021 looks rosy but with important downward risks

Asian economies have been hit by the pandemic but differences among countries are striking. Beyond the extent of lockdowns and the size of the policy response, whether fiscal or monetary, the underlying characteristics of Asian economies also explain differences in growth trends. Countries with the largest current account deficits have suffered as risk-off episodes have compl...

Lee Kyung-min | 2021-01-05 09:16

'Overcoming crisis, inclusive growth will define 2021'

'Overcoming crisis, inclusive growth will define 2021'

The COVID-19 pandemic should be weathered through bolstering consumption, investment, exports and job creation - key objectives that must be pursued and underpinned by thorough containment of the disease, Deputy Prime Minister and Finance Minister Hong Nam-ki said Monday.

Lee Kyung-min | 2021-01-04 16:52

'Korean economy to show quickest recovery in 2021'

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