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Finance

Economy

Wed, July 6, 2022 | 13:00

JP Morgan predicts BOK's 'big-step' rate hike amid inflation woes

Global investment bank JP Morgan on Wednesday forecast that Korea's central bank could take a "big step" of raising its interest rate by 50 basis points as part of efforts to keep a lid on growing inflation pressure.

2022-06-15 14:08

Finance minister says stabilizing prices, people's livelihoods top priority

Finance Minister Choo Kyung-ho said Wednesday that the government will use every possible policy measure to stabilize prices and people's livelihoods amid rising concerns of an economic slowdown and higher inflation.

2022-06-15 13:48

Korea's job growth extended for 15th month in May

Korea reported job additions for the 15th consecutive month in May as economic recovery momentum has been extended despite heightened global uncertainty, data showed Wednesday.

2022-06-15 10:02

Fitch cuts 2022 growth outlook for Korea to 2.4%

Global credit appraiser Fitch Ratings lowered its 2022 growth outlook for the Korean economy to 2.4 percent Wednesday, citing the fallout of the protracted war between Russia and Ukraine, and China's economic slowdown.

2022-06-15 09:59

Korea's global competitiveness ranking fell to 27th in 2022

Korea's global competitiveness ranking fell by four notches this year from the previous year amid the economic slowdown and a continued rise in the national debt, a report showed Wednesday.

2022-06-15 09:50

BOK board members highlight need for further rate hikes to tame inflation: minutes

Members of the central bank's rate-setting board called for further rate hikes, as they decided to raise borrowing costs last month, underlining the need to tame rising inflation pressures, minutes from their latest policy meeting showed Tuesday.

2022-06-14 20:36

Authorities step up vigilance over financial markets

Responding to increased global macroeconomic uncertainties, financial authorities on Tuesday reaffirmed their strong determination to closely monitor the markets and take preemptive steps, if necessary, to deal with volatility. During a market monitoring meeting hosted by the Financial Services Commission (FSC) on Tuesday morning, the top financial regulator and other key fin...

Anna J. Park | 2022-06-14 17:26

Korean won may dip below 1,300 per dollar if Fed takes 'giant step'

The value of the Korean won is expected to fall below 1,300 won per U.S. dollar for the first time in nearly 13 years, if the U.S. opts to take a “giant step” by raising its benchmark rate by three-quarters of a percentage point during the U.S. Federal Reserve's rate-setting meeting scheduled to be held from Tuesday to Wednesday (local time), according to market analysts

Yi Whan-woo | 2022-06-14 16:50

New tax agency chief

National Tax Service (NTS) Commissioner Kim Chang-ki makes a speech at his appointment ceremony held at NTS headquarters in Sejong City, Tuesday. Kim vowed to offer trustable services, based on communication with taxpayers. He also promised to be prudent in tackling tax evasion. Courtesy of NTS

Yoon Ja-young | 2022-06-14 16:36

ICT exports up 14% in May on solid demand for chips, displays

Korea's exports of information and communication technology (ICT) products rose 13.9 percent in May from a year earlier on brisk overseas demand for chips and displays, data showed Tuesday.

2022-06-14 11:56

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