[From the scene] South Koreans celebrate Park’s impeachment in rally

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Yoo assures foreign investors economic team will remain vigilant

Finance Minister Yoo Il-ho on Friday convened a meeting of economy-related ministers upon the National Assembly’s impeachment of President Park Geun-hye and vowed to mobilize a combined emergency tea...

Updated : 2016.12.09 22:11

Prospects on Korean economy to worsen after impeachment

After a historic impeachment vote Friday, the Korean economy is expected to be thrown into a vortex of uncertainty amid aggravating concerns over sluggish exports and intensifying external volatility from foreign exchange and oil prices.The National Assembly passed a bill to impeach Presid...

Updated : 2016.12.09 19:30

Park’s key economic initiatives sink with impeachment

The National Assembly’s impeachment Friday was the death knell for many of the key economic policies endorsed by the Park Geun-hye administration encircled under the theme of the “creative economy."...

Updated : 2016.12.09 16:54

US fades as factor in exports to China: BOK

When China’s exports to the US decline, so do South Korean exports to China. But the trend seems to be weakening, according to new analysis by South Korea’s central bank released Wednesday. According to the Bank of Korea, which analyzed the final destinations of exported Korean goods usi...

Updated : 2016.12.08 19:32

Korea’s population forecast to decline from 2032

The rapidly aging population in South Korea is projected to start declining from 2032, the government said Thursday.According to projections by Statistics Korea, the total population is expected to gr...

Updated : 2016.12.08 17:02

Korean economy to face stronger downside pressure amid political turmoil

Recent political turmoil surrounding President Park Geun-hye will likely create a bigger drag on the South Korean economy in the future, which is experiencing a tepid recovery due to faltering exports...

Updated : 2016.12.08 11:36

Anti-dumping actions against Korean goods increase

The number of anti-dumping measures taken against South Korean goods has increased this year, with half of such measures targeting steel and petrochemical products, data showed Wednesday. A total of 132 anti-dumping measures have been imposed on South Korean-made goods in the first 11 mont...

Updated : 2016.12.07 17:05

Flagging Korean economy to face tumultuous week

Already reeling from sluggish exports and anemic domestic demand, the Korean economy is set to face several big political and external events over the next seven days.This Friday, the National Assembl...

Updated : 2016.12.07 15:49

Investors focus on outcome of impeachment vote

With a parliamentary vote to impeach President Park Geun-hye two days away, the glare of investor attention is focused on its outcome with a rejection more likely to increase stock market volatility than a passage, analysts said Wednesday.Opposition parties and some ruling party lawmakers ...

Updated : 2016.12.07 11:02

Korea's inflation likely to remain in low 1 pct in 2017: think tank

South Korea's consumer prices are expected to remain at a low 1 percent-range next year due mainly to a slowdown in the world economy and a modest rise in oil prices, coupled with contracted domestic demand, a state-run think tank said Tuesday."Korea's inflation is projected to mark a 1.1-...

Updated : 2016.12.06 13:48

Banks to cut jobs due to slowing economy

Some local banks are considering offering voluntary retirement programs to their workers in a bid to cut costs amid a prolonged economic slowdown, industry officials said Tuesday.NongHyup Financial Group said its flagship unit, NH Nonghyup Bank, is to let 411 employees go under a voluntary...

Updated : 2016.12.06 13:46

Households' overseas spending tops 8 tln won in Q3

South Korean households' overseas spending rose 16.8 percent in the third quarter from a year earlier on increased outbound travel to foreign countries, the central bank said Tuesday.South Korean households spent 8.21 trillion won ($7 billion) overseas in the July-September period, compare...

Updated : 2016.12.06 09:47

[MONITOR] Korea’s share in fast growing export market stagnant

A recent report by the Korea Institute of Finance showed that South Korea‘s share in the fast growing export markets remained stagnant while that of China rapidly expanded.South Korea held 3.3 percen...

Updated : 2016.12.05 17:04

[News Focus] Impeachment vote hangs over uncertain economic leadership

The South Korean economy has lacked clear leadership for over a month since the scandal-ridden President Park Geun-hye named the top financial regulator as the new finance minister in early November.A...

Updated : 2016.12.05 16:56

Korean shares trade lower after Italy referendum

South Korean shares ticked down late Monday morning on a risk-off mood following the failure of Italy's referendum on constitutional reform.The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.76 points, or 0.09 percent, to 1,969.85 as of 11:20 a.m.The KOSPI opened lower but it p...

Updated : 2016.12.05 13:22