S. Korea keeping close tabs on drought in N. Korea

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S. Korea's current account surplus widens in May

South Korea's current account surplus widened in May, extending its surplus streak to a record 39th straight month, data showed Thursday.  The current account surplus reached US$8.65 billion in May, up from a revised $8.14 billion surplus in April, according to the provisional data relea...

Updated : 2015.07.02 09:57

Park vows to strengthen employment insurance

President Park Geun-hye pledged Wednesday to strengthen a state-administered insurance program for workers as part of efforts to stabilize the labor market.  Still, she did not give details on how to boost the role of employment insurance designed to provide unemployment insurance benefit...

Updated : 2015.07.01 15:04

Govt, ruling party agree on 15tln won extra budget amid MERS fallout

The government and the ruling Saenuri Party agreed Wednesday to draw up an extra budget worth around 15 trillion won ($13.4 billion) as Asia's fourth-largest economy, already reeling from slackened domestic demand and falling exports, is feared to further lose recovery momentum amid the ME...

Updated : 2015.07.01 15:02

S. Korea's exports shrink for 6th straight month in June

South Korea's outbound shipments continued to shrink in June, although its trade surplus widened as imports dropped with greater speed, the government said Wednesday.  In June, the country's overall exports came to $46.95 billion, down 1.8 percent from the same month last year, according...

Updated : 2015.07.01 09:29

Hotel Shilla CEO asks China to encourage tours to S. Korea

The CEO of South Korea's Hotel Shilla Co., Lee Boo-jin, has asked Chinese officials to encourage citizens to make trips to South Korea, the company said Tuesday, as the MERS outbreak shows signs of easing in the country.   Lee has been on a visit to Beijing and Shanghai this week during ...

Updated : 2015.06.30 14:12

Tourism sector's slump to last into summer season: poll

The South Korean tourism industry has been hit hardest by the outbreak of Middle East Respiratory Syndrome over the past month, but the slump may continue into the summer season from mass cancellations for hotels and tour packages, a poll showed Tuesday.   The tourism and hotel industrie...

Updated : 2015.06.30 11:02

Desperation, anger in Greek bailout protests

 ATHENS -- While financial leaders of the eurozone sought to agree to terms with Greece on another bailout program, people were torn over Prime Minister Alexis Tsipras, who they elected to oppose the creditors’ demands.  Greece risks default if a bailout is not secured, but, unwilling t...

Updated : 2015.06.29 18:26

Park calls for drastic measures to boost consumption

President Park Geun-hye called Monday for drastic measures to stimulate consumption to help revive economic growth as South Korea's economy was hit hard by the spread of the MERS virus.  The outbreak of Middle East Respiratory Syndrome has hurt consumption and the service sector as many ...

Updated : 2015.06.29 11:55

S. Korea beefing up market monitoring amid Greek default woes

South Korea is beefing up market monitoring over concerns that Greece may default on its debt, and is ready to take appropriate measures to reduce fallout, a senior government official said Monday.   At the macroeconomic and financial policy meeting, Vice Finance Minister Joo Hyung-hwan ...

Updated : 2015.06.29 09:34

S. Korea's growth in last 10 years 6th highest among OECD members

South Korea's economic growth rate in the last 10 years was the sixth highest among Organization for Economic Cooperation and Development members, official data showed Monday.  According to numbers released by the Paris-based organization of developed market economies with high income, A...

Updated : 2015.06.29 09:30

S. Korean firms expand recruitment in Q1

South Korean companies hired more full-time workers in the first quarter this year from a year earlier, data showed Sunday, reflecting an improvement in the country's job market.According to the data compiled by the Ministry of Employment and Labor, local companies hired 726,000 people ove...

Updated : 2015.06.28 14:50

S. Korean banks' loan delinquency rate rises in May

A South Korean think tank downgraded the country's economic growth forecast for 2015, citing weak exports coupled with the outbreak of Middle East Respiratory Syndrome, which has claimed 32 lives.The Korea Economic Research Institute said it has slashed the economic growth forecast to 2.7 ...

Updated : 2015.06.28 12:02

Sales at S. Korea's discount outlets, department stores rise in May

Sales at both discount outlet chains and department stores here rose from a year earlier last month, continuing their positive growth for a second straight month, the government said Sunday.The combined sales of three major department store chains grew 3.1 percent from the same month last ...

Updated : 2015.06.28 11:09

S-Oil supports children of fallen officers

S-Oil senior vice president Lee Chang-jae (center) presents a scholarship of 40 million won to 20 children of fallen maritime police officers who died in the line of duty during a ceremony on Thursday...

Updated : 2015.06.25 16:30

S. Korea cuts 2015 growth outlook to 3.1 pct

South Korea lowered its 2015 economic growth outlook to 3.1 percent Thursday, citing slumping exports and the negative impact of the Middle East Respiratory Syndrome outbreak on Asia's fourth-largest economy.The revised estimate represents a drop from the 3.8 percent gain predicted late la...

Updated : 2015.06.25 14:17