2PM selected as honorary ambassador for ‘K-Pop Expo in Asia’

The Korea Herald > Business > Economy

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

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

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

S. Korea's current 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 US$7.92 billion last month, compared with a revised $9.08 bil...

Updated : 2014.07.29 10:25

[Graphic News] Younger people pay more, receive fewer benefits from public services

Members of South Korea’s younger generation are likely to receive less than what they paid into public benefits, a report showed Monday, highlighting the government’s demographic dilemma of having t...

Updated : 2014.07.28 21:22

Seoul shares hit yearly high

South Korean stocks closed at their highest this year on Monday on improved economic data from China, the country’s No. 1 trading partner, and growing anticipation on a string of stimulus measures unveiled by the government, analysts said. The South Korean won fell against the U.S. dollar...

Updated : 2014.07.28 20:52

Korea to adopt new online payment system

The South Korean government said Monday that it will introduce alternative online payment systems to offer foreign shoppers easier, simpler access to local shopping malls as part of its deregulation drive to boost the economy. The financial authorities have removed the authentification sys...

Updated : 2014.07.28 20:51

New cross-shareholding ban takes effect

South Korea’s antitrust watchdog on Friday launched a ban on any new cross-shareholding investment among the affiliates of conglomerates, a move aimed at improving governance of the nation’s leading family-controlled conglomerates.With the new ruling, the Fair Trade Commission is able to...

Updated : 2014.07.25 21:39

Growth slows to 0.6% on weak consumption

The South Korean economy expanded 0.6 percent in the second quarter from three months earlier, growing at the slowest pace in five quarters as sluggish consumption sapped growth, central bank data sho...

Updated : 2014.07.24 21:50

U.S. Chamber of Commerce chief urges FTA implementation

The head of the U.S. Chamber of Commerce on Thursday called for the faithful implementation of the free trade agreement between South Korea and the United States to improve the global competitiveness ...

Updated : 2014.07.24 21:10