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Reporter : Yi Whan-woo
Sun, December 3, 2023 | 06:20
Korean currency on course to settle at 1,200 won level over Fed's rate freeze
The Korean won is expected to gain ground against the U.S. dollar and settle at around 1,200 won per dollar after the U.S. Federal Reserve paused 15 months of base rate hikes, according to analysts, Thursday.
Youth job opportunities shrink despite record-high employment
Opportunities for young jobseekers in Korea are shrinking despite the overall employment rate for the working-age population reaching record highs of nearly 70 percent, data showed on Wednesday.
Can capital reshoring save embattled belt-tightening policy?
Hyundai Motor Group, Samsung Electronics and other Korean conglomerates' moves to bring back massive earnings from abroad is drawing speculation over whether the government can capitalize on such moves to justify and sustain its embattled belt-tightening policy.
Rate freeze fuels optimism for housing market's recovery
The housing market in Korea faces growing optimism on its path to recovery following months of rate freezes, with a record number of would-be homebuyers interested in purchasing homes - for the first time in two years.
Credit risks loom as tightening cycle nears end
A cycle of tightened credit conditions appears to be over in Korea and the United States, but their respective central banks are likely to maintain a hawkish stance and their base rates will remain steady at the high levels seen currently, analysts said Monday.
Japanese business leaders pledge to support Busan's Expo bid
Business chambers of Korea and Japan have agreed to cooperate to support Korea's bid to host the World Expo 2030 in Busan, according to officials, Friday. They also pledged to work closely for the successful hosting of the upcoming World Expo 2025 to be held in Osaka.
Yoon's $40,000 GNI by 2027 goal seems unlikely prospect
The government faces a bumpy road in increasing gross national income (GNI) per capita to $40,000 as promised by President Yoon Suk Yeol during his five-year term, due to a prolonged economic slowdown.
Resurging household loans pose challenge for BOK's rate policy
Households are borrowing more money from banks again, adding to concerns over high household debt and creating headaches for the Bank of Korea (BOK) which is believed to be on track to end a credit tightening cycle.
Shutdown of last-resort lender unnerves cash-strapped people
The latest decision by the country's largest private lender to shut down business operations is prompting concerns that financially vulnerable people will have fewer places to a get a quick cash loan. According to industry sources, Thursday, OK Savings Bank recently submitted a request to the financial authorities seeking to acquire Rush and Cash, the No. 1 private money lend...
OECD cuts Korea's 2023 growth forecast to 1.5% from 1.6%
The Organization for Economic Cooperation and Development (OECD) cut its 2023 economic growth outlook for Korea to 1.5 percent from 1.6 percent, Wednesday, despite an upward revision of its global economic outlook.
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