Prosecutors continue probe into ferry owner's driver

The Korea Herald > Business

IMF urges S. Korea to limit foreign exchange intervention

The International Monetary Fund(IMF) urged South Korea to refrain from stepping into the foreign exchange market in its report released Tuesday, saying the appreciation of the country's currency is caused by its large trade surplus and excessive foreign reserves. In an external sector repo...

Updated : 2014.07.30 13:59

S. Korea to inject 26 tln won in H2 for economic recovery: minister

The government will inject about 26 trillion won (US$25.3 billion) in the forms of fiscal measures and policy financing during the remainder of this year to help the slowing economic recovery, the finance minister said Wednesday."In order to carry out diverse policy measures in a speedy ma...

Updated : 2014.07.30 11:19

S. Korea's industrial output grows 2.9 pct on-month in June

South Korea's industrial output grew at the fastest pace in four years and nine months in June, raising expectations that the economic recovery might be gaining some momentum, a government report showed Wednesday. According to the report by Statistics Korea, production in the mining, manuf...

Updated : 2014.07.30 11:06

Overseas travel spending hits new high in June

Overseas travel spending soared to a record high in June as South Koreans continued to flock to foreign destinations despite a prolonged slump in domestic demand, central bank data showed Wednesday.Overseas travel spending totaled US$1.7 billion in June, growing 23.3 percent from the previ...

Updated : 2014.07.30 11:05

Samsung's smartphone market share plunges in Q2

South Korea's tech giant Samsung Electronics Co. saw its market share in the smartphone industry plunge in the second quarter from a year earlier, data showed Wednesday, dented by the rise of Chinese players vying with low-end models.Samsung took up 25.2 percent of the global smartphone ma...

Updated : 2014.07.30 10:53

S. Korea mulling easing daily limit in stock market

South Korea is pushing to ease or lift the current daily limit imposed on stock price movements as part of efforts to stimulate the country's stock market, a local media report said Wednesday.According to the daily JoongAng Ilbo, who cited sources from financial authorities, the government...

Updated : 2014.07.30 10:52

Stocks up on stimulus

Korean stocks closed higher Tuesday to pass the 2,060 mark for the first time in three years on improved economic data from China, with Seoul’s latest stimulus package also lending support, analysts ...

Updated : 2014.07.29 21:04

[Graphic News] Korea’s Big Mac index rises 15.3%

The Big Mac index for South Korea rose to 4.0, up from 3.47 early this year, according to data released by The Economist on Tuesday. The index for South Korea was the 28th highest among 57 countries, ...

Updated : 2014.07.29 21:00

IFC may blacklist Korean builders over collusion

The International Finance Corporation, a private lending arm of the World Bank Group, may blacklist a number of Korean construction companies for fixing prices in bids for pork-barrel projects after r...

Updated : 2014.07.29 20:50

Jaguar Land Rover offers long-term rentals for expats

Jaguar Land Rover Korea said Tuesday that it will be offering long-term rentals for foreign nationals as part of efforts to make it easier for them to enjoy luxury vehicles during their stay in South ...

Updated : 2014.07.29 20:48

Local business sentiment drops to 6-month low

South Korea’s major companies are disappointed by the long-deferred economic recovery stemming from unfavorable exchange rates and sluggish consumer demand due to the ferry disaster, a poll showed Tuesday.The Business Survey Index came to a six-month low of 91.6 for August, down from 94 f...

Updated : 2014.07.29 20:48

Choi to sell record debt to fund stimulus

South Korea is forecast to sell an unprecedented amount of debt to fund stimulus as policymakers liken the economy’s current situation to that faced by neighboring Japan at the start of a two-decade slump.Finance Minister Choi Kyung-hwan unveiled a plan last week to boost spending by 11.7...

Updated : 2014.07.29 20:48

Korean Air introduces 10th A380 jumbo jet

Korean Air, the nation’s largest flag carrier, said Tuesday that its 10th A380 jumbo jet has arrived at Incheon International Airport.It will be adopted into the Incheon-Houston route starting Aug. 3. Since the introduction of the luxury double-decker aircraft in 2011, the company has enh...

Updated : 2014.07.29 20:48

Daewoo Shipbuilding inks consulting deal with British firm

Daewoo Shipbuilding & Marine Engineering, South Korea’s second-largest shipbuilder, said Tuesday it had signed a deal with a British defense company to provide production and management consulting services on naval vessels.Daewoo Shipbuilding will provide BAE Systems Surface Ships with a ...

Updated : 2014.07.29 20:47

Korea’s current account surplus slips in June

South Korea extended its current account surplus to a 28th consecutive month in June but saw the figure slip from the previous month as the surplus for goods narrowed, central bank data showed Tuesday.The current surplus reached $7.92 billion last month, compared with a revised $9.08 billi...

Updated : 2014.07.29 20:47