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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Finance

Economy

Thu, June 1, 2023 | 11:04

Korea's exports down for 8th month in May on sagging chip demand

Korea's exports down for 8th month in May on sagging chip demand

Korea's exports fell for an eighth consecutive month in May due mainly to weak demand for semiconductors amid an economic slowdown, the industry ministry said Thursday.

2023-06-01 09:38

Calls grow from Fed officials to 'skip' rate hike

Calls grow from Fed officials to 'skip' rate hike

Two senior Federal Reserve officials indicated Wednesday that they may support skipping an interest-rate hike in June to give the Fed more time to assess the health of the US economy.

2023-06-01 08:56

Wall Street slips as stocks slump worldwide

Shrinking tax revenues raise concerns over fiscal belt-tightening policy

Shrinking tax revenues raise concerns over fiscal belt-tightening policy

A steep decline in tax revenues, which shrank by 33.9 trillion won ($25.57 billion) in the first four months of 2023 from a year earlier, is raising concerns over the government's belt-tightening policy. Announced by the Ministry of Economy and Finance, Wednesday, the year-on-year decline in tax revenue in the January-April period was the steepest on record.

Yi Whan-woo | 2023-05-31 16:41

Chinese account for 54% of foreign-owned homes in Korea

Chinese account for 54% of foreign-owned homes in Korea

Chinese people account for over 54 percent of homes owned by foreigners in Korea, while Americans account for 24 percent of them, according to the land ministry's latest data on foreign ownership of land and housing in Korea.

Anna J. Park | 2023-05-31 16:01

Tax revenue down $25.7 bil. through April

Tax revenue down $25.7 bil. through April

Korea's tax revenue fell 33.9 trillion won ($25.7 billion) in the first four months of the year compared with a year earlier, data showed Wednesday, as an economic slump weighed down on business activities.

2023-05-31 12:08

Industrial output dips most in over 1 year in April; inventories at record high

Industrial output dips most in over 1 year in April; inventories at record high

Korea's industrial output dropped by the most in over a year in April due to an extended slump in the chipmaking sector, data showed Wednesday, with the inventory level at a fresh high.

2023-05-31 09:44

Loan refinancing platform expected to push banks to lower rates

Loan refinancing platform expected to push banks to lower rates

Commercial banks and other financial firms are anticipated to lower lending rates to attract new customers following the launch, Wednesday, of an online, one-stop platform allowing borrowers to switch to other lenders.

Yi Whan-woo | 2023-05-30 17:19

Sluggish exports behind weak Korean won

Sluggish exports behind weak Korean won

The Korean won has remained weak against the U.S. dollar for more than a month and a half, hovering at the significant 1,300 won per dollar barrier despite the recent depreciation in the value of the dollar from its highs in 2022.

Yi Whan-woo | 2023-05-30 16:34

Korea's tax revenue to stay sluggish for time being: Choo

Korea's tax revenue to stay sluggish for time being: Choo

Korea's tax revenue is expected to remain sluggish for the time being due to weak corporate performances and a slump in the property market, the finance minister said Tuesday.

2023-05-30 15:30

Vietnam emerges as major market for Korean chipmakers

Vietnam emerges as major market for Korean chipmakers

Vietnam is quickly emerging as a major market for Korean semiconductor makers, which have been struggling amid sluggish chip demand in China, according to a report by the Bank of Korea (BOK), Monday. The BOK stressed the importance of diversifying export markets for Samsung Electronics and SK Hynix in light of the escalating rivalry between the U.S. and China.

Lee Yeon-woo | 2023-05-29 16:11

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