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Finance

Economy

Thu, October 28, 2021 | 20:06

Rising inflation biggest threat to economic recovery

Inflation has been accelerating fast, as consumer prices grew over 2 percent in August for the fifth consecutive month due to a surge in prices of groceries and oil products. Continuing buildup in inflationary pressure has been emerging as a major stumbling block to the much-anticipated economic recovery, throwing further pressure on the Bank of Korea to deliver another rate ...

2021-09-02 17:16

Korea urged to share knowledge of digital transformation, deepen climate change fight

Korea should play a bigger role in fighting climate change and in protecting biodiversity, as well as in helping developing countries end extreme poverty and become part of the digital world, according to the recommendation of one of the world's most renowned economists, Thursday. Jeffrey Sachs, a Columbia University economics professor and director of the Center for Sustaina...

2021-09-02 15:55

Inflation growth hits over 2% for 5th straight month in August

South Korea's consumer prices rose more than 2 percent for the fifth straight month in August due to high prices of farm and oil products, data showed Thursday, indicating a continued build-up of inflationary pressure amid an economic recovery.

2021-09-02 08:53

Exports grow for 10th month in August on solid sales of chips, autos

South Korea's exports have extended their gains to 10 months, jumping 35 percent on the back of robust demand for chips and automobiles, and underpinning recovery momentum in Asia's fourth-largest economy, data showed Wednesday.

2021-09-01 10:09

4th coronavirus wave sending shudders through Korean economy

Repercussions from the continued spread of the Delta variant of the coronavirus have begun rippling across the Korean economy, with key economic indicators, such as industrial output and retail sales, turning downward. This situation suggests that the country's economic recovery will be dampened by the Delta variant-driven, fourth wave of COVID-19 cases, and that its growth m...

2021-08-31 16:46

[ANALYSIS] Raw material price increases could burden Korea's economy

Rising raw material prices are putting pressure on businesses in Korea, although the country's private and industrial sectors have been showing signs of a steady recovery from the early effects of the COVID-19 pandemic.

2021-08-30 16:02

Rate hike to hit jeonse tenants, young people

Low-income small- and medium-sized enterprises (SMEs) as well as young people are expected to suffer the most from the central bank's Thursday rate hike decision, economist and analysts said, Friday.

2021-08-27 16:46

AMRO ups 2021 growth outlook for Korean economy to 3.9%

The ASEAN-sponsored economic research agency on Monday raised its 2021 growth forecast for the South Korean economy to 3.9 percent, citing solid recovery in exports and facility investment.

2021-08-23 11:05

Private spending recovery still uncertain amid virus resurgence: ministry

The South Korean economy is facing continued uncertainty about domestic demand as the latest flare-up in COVID-19 cases is hurting face-to-face service sectors, the finance ministry said Friday.

2021-08-20 13:31

Specter of 'double-dip' recession looming large

Fears are growing that Korea will slip back into a recession, as the nation's economy is likely to contract in the third quarter of the year due to the COVID-19 situation spinning out of control amid a disruption in the supply of vaccines. The Korea Disease Control and Prevention Agency reported a record high 2,223 cases for the country Tuesday, a day after Moderna stated tha...

2021-08-11 16:19

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