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Finance

Economy

Tue, July 16, 2019 | 08:05

S&P hints at cutting Korea's growth outlook again

Standard & Poor's (S&P) Global Ratings hinted Thursday that it may lower its forecast for Korea's GDP growth rate for 2019 to below 2 percent if the ongoing trade feud between Korea and Japan continues to escalate. The global ratings agency said that growing uncertainties resulting from the trade conflict are posing additional downside risks to Asia's fourth-largest economy.

Park Jae-hyuk | 2019-07-11 16:58

Japan slammed for using 'economic tools for other ends'

Concerns are growing about the use of economic measures such as trade restrictions for political purposes, with Japan being the latest country to take such steps. Global economists said such practices will end up hurting everyone as they could undermine the international trade system and destroy the value chain, warning that Japan could become a bigger loser if the confrontat...

Kim Bo-eun | 2019-07-11 16:34

'Seoul proposes plan to compensate forced wartime laborers

Dollarization rules North Korea economy

“Dollarization” is the most notable aspect of North Korea under the Kim Jong-un regime, an inevitable result of a weak economy whereby the North Korean won fails to function as a currency, a state-run think tank said Tuesday. Otherwise known as currency substitution, dollarization is a term for when a foreign currency is used in addition to or instead of the domestic currency...

Lee Kyung-min | 2019-07-02 17:22

Output, investment fall amid manufacturing downturn

Industrial production and investment fell again in May after rising in the two previous months amid a manufacturing downturn, according to Statistics Korea. The country's overall output contracted 0.5 percent in May from the month before.

Park Hyong-ki | 2019-06-28 17:05

One-person households becoming 'new normal'

A Seoul resident in her 40s who lives alone sees herself in the same position for the next decade. "I enjoy the freedom that the lifestyle of singles allows," she said.

Kim Bo-eun | 2019-06-23 15:38

Platform economy stands at crossroads

The country's aim to create a so-called platform economy stands at a crossroads amid a conflict between old and new businesses, analysts and industry sources say. Also, the global trade war between the United States and China, which has been extended into a tech power game, is further making Korea look like a follower, not an innovator.

Park Hyong-ki | 2019-06-17 16:59

Brokerages benefit from BOK's dovish stance, not banks

The nation's brokerages expect to enjoy a rise in their bond assets as Bank of Korea Governor (BOK) Lee Ju-yeol signaled a possible policy rate cut, Korea Exchange (KRX) data suggests.

Jhoo Dong-chan | 2019-06-16 17:11

Exports down 16.6% in first 10 days of June

South Korea's exports sharply fell 16.6 percent in the first 10 days of June mainly due to decreased shipments of semiconductors, one of the country's key items, customs data showed Tuesday. The country's exports stood at US$10.3 billion in the June 1-10 period, compared with $12.3 billion in the same period last year, according to the Korea Customs Service.

2019-06-11 09:44

Korea-UK post-Brexit FTA

Trade Minister Yoo Myung-hee, left, and U.K. International Trade Secretary Liam Fox hold a preliminary agreement on free trade between the two countries during their signing ceremony at the Lotte Hotel in Jung-gu, Seoul, Monday. The in-principle agreement is roughly in line with the terms of the existing free trade agreement with Korea and the EU, and was designed to provide ...

Nam Hyun-woo | 2019-06-10 16:27

Trade friction burdening Korean economy

A senior presidential aide said the growing trade friction between the United States and China is harming the South Korean economy and the prospects of its manufacturing sector, as the deepening dispute is pulling down overall growth of the global economy. “External uncertainties affecting economic growth in the first quarter of the year have risen more than expected. Meanwhi...

Kim Yoo-chul | 2019-06-09 17:05

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