AIIB members hold meeting in Beijing

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[Herald Interview] Korea to defend rice market in TPP talks

Korea’s top agriculture policymaker has emphasized that the government would not further open its rice market, even when the nation participates in the U.S.-led Trans-Pacific Partnership to establish...

Updated : 2015.04.27 20:33

S. Korea seeks to ink bilateral FTA with China next month

South Korea is working to officially sign its bilateral free trade agreement with China in May, a ranking government official said Monday.  The move comes as the government seeks to implement the free trade pact before the end of the year.  "After the FTA is officially signed, the gove...

Updated : 2015.04.27 10:59

[Weekender] Korea, Middle East eye stronger partnership

The economies of South Korea and the Middle East are inseparable.Korea depends on the Middle East’s abundant energy resources to fuel its manufacturing sector, while the region has counted on Korea’...

Updated : 2015.04.24 20:54

S. Korea should offer more to lure foreign tourists: minister

South Korea needs to offer foreign visitors more than a world-class shopping experience and its pop culture to attract more tourists from abroad over the long haul, the nation's economic czar said Friday.In a meeting with people in the tourism industry on the southernmost resort island of ...

Updated : 2015.04.24 14:07

Income of farming, fishing households up in 2014

The average income of households engaged in farming and fishing rose in 2014 on higher market prices for goods, a government report showed Friday.The income of farming households averaged 34.95 million won ($32,400) last year, up 1.2 percent from the year before, the report by Statistics K...

Updated : 2015.04.24 14:06

Home prices in S. Korea keep rising in April: data

Housing prices in South Korea seem to be on a sustained recovery path, data showed Friday, reflecting growing demand for home purchases amid eased lending circumstances.Seoul apartment prices gained 0.55 percent on-month in April, accelerating from a 0.45 percent increase in March, accordi...

Updated : 2015.04.24 11:27

Nuclear agreement with U.S. to boost Korean exports

The Korea-U.S. civilian nuclear cooperation pact signed Wednesday is expected to smooth Korean companies’ exports of nuclear power generation-related products and technologies, industry insiders said Thursday. Under the new deal, Seoul can transfer U.S.-originated nuclear equipment, techn...

Updated : 2015.04.23 20:35

Reactor operator to demand GE compensation for parts

The nation’s nuclear power plant operator said Thursday that it is considering demanding compensation from General Electric for having supplied faulty parts, which led to a delay in operations of two nuclear power plants in Korea. According to the state-run Korea Hydro & Nuclear Power Co....

Updated : 2015.04.23 20:15

Won hits 7-year high vs. yen, bodes ill for exports

The South Korean won touched a seven-year high against the Japanese yen on Thursday, prodding the local currency authorities to raise their guard to minimize its possible impact on exports.The won-yen arbitrated exchange rate stood at 903.04 per 100 yen as of 3 p.m., the highest since Feb....

Updated : 2015.04.23 11:36

LNG price to be cut by 10.3 pct from next month: gov't

The price of liquefied natural gas will be cut by an average 10.3 percent from the start of next month, the government said Thursday, marking a third price reduction in just five months.The latest price cut, along with two previous reductions, reflects a drop in global oil prices, accordin...

Updated : 2015.04.23 09:54

S. Korea's economic growth picks up in Q1

South Korea's economic growth accelerated in the first quarter from three months earlier but remained below the 1 percent level in a sign of a tepid recovery, central bank data showed Thursday.The country's gross domestic product grew 0.8 percent on increased construction investment and im...

Updated : 2015.04.23 09:15

Korea-Japan bilateral trade dips 14% in Q1

Bilateral trade between South Korea and Japan stood at $18.4 billion (19.9 trillion won) in the first quarter of this year, dropping by 13.9 percent compared to $21.4 billion during the same period in...

Updated : 2015.04.21 20:19

Gov't accelerates budget spending to spur economy

The government plans to spend nearly 60 percent of this year's budget in the first half in a bid to put the fizz back into the slowing economy, the finance ministry said Tuesday.The plan comes amid escalating concern that Asia's fourth-largest economy may grow at a far weaker rate than exp...

Updated : 2015.04.21 15:28

Saudi Aramco to hold board meeting in Seoul this week

Saudi Arabian Oil Company, the world's largest crude oil exporter, will hold its board meeting in Seoul later this week, its local unit said Tuesday, with top Saudi Arabian government officials and business leaders to attend the annual gathering.It is the second time that the state-run oil...

Updated : 2015.04.21 14:40

BOK expects Fed's rate hike impact to be 'endurable'

South Korea's financial market could withstand a possible U.S. interest rate hike, the central bank said Tuesday, brushing off concerns that the move could trigger a massive outflow of foreign capital.Market watchers expect the U.S. Federal Reserve's first rate hike in almost a decade to c...

Updated : 2015.04.21 10:25