Myanmar approves first-ever national minimum wage

The Korea Herald > Business > Economy

Seoul shares forecast to rally next week

South Korean stocks are expected to move higher next week as jitters over China's growth abate and anticipation for a delay in the U.S. Federal Reserve's rate hike builds up, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) advanced 3.3 percent this week to cl...

Updated : 2015.08.29 10:33

Gyeongju radioactive waste treatment facility

 Gyeongju radioactive waste treatment facility --  Prime Minister Hwang Kyo-ahn (fourth from left) and other high-ranking government officials mark the completion of the construction of the Gyeongju...

Updated : 2015.08.28 19:06

Seoul eyes 2016 fiscal expansion

The ruling Saenuri Party and the Finance Ministry on Thursday reached a consensus to push an expansionary fiscal policy next year to stimulate the economy.They also agreed to expand military expenses ...

Updated : 2015.08.27 19:34

Park says S. Korea's business delegation to visit China

President Park Geun-hye said Thursday that a delegation of South Korean business leaders will visit China next week to explore business opportunities in the world's second-largest economy.The delegation will "have various cooperative opportunities" in Shanghai, China's commercial capital, ...

Updated : 2015.08.27 18:09

S. Korean economy 'gradually' recovering from MERS fallout: BOK

The South Korean economy seems to be gradually recovering from the fallout of MERS that dealt a huge blow to domestic demand over the past months, a central bank report showed Thursday.The MERS outbreak, the second-largest infection outside Saudi Arabia, claimed 36 lives here. South Korea ...

Updated : 2015.08.27 15:23

Bank lending rates down for 2nd month in July

Bank lending rates for new loans in South Korea continued to fall in July as market rates remained low amid a record-low policy rate, central bank data showed Thursday.The average rate for new loans to households, companies and other organizations came in at 3.43 percent last month, down 0...

Updated : 2015.08.27 12:43

Korean investments in foreign securities nears record in Q2

The value of foreign securities held by South Korean institutions climbed to a near record high in the second quarter as local asset managers and insurers beefed up their buying of foreign assets and equities, data showed Thursday.The outstanding amount of foreign securities held by instit...

Updated : 2015.08.27 08:58

BOK policy board member urges more attention on job creation

A member of the Bank of Korea's rate-setting board on Wednesday stressed that the country's policymakers should give more weight to job creation, departing from their long-cherished mantra of bolstering growth in Asia's fourth-largest economy.The Korean economy has been grappling with a lo...

Updated : 2015.08.26 15:36

State pension fund suffers big loss in Samsung units

South Korea's state-run pension fund has suffered heavy valuation losses from its investment in two Samsung Group units over the past two months as the stocks have plunged after their merger plan was approved by shareholders last month, data showed Wednesday. The National Pension Service -...

Updated : 2015.08.26 14:34

S. Korea unveils measures to spur spending

South Korea plans to cut consumption taxes on cars and large electronics goods temporarily as part of efforts to stimulate anemic consumer spending that is weighing down economic growth, the government said Wednesday.Private consumption has remained in the doldrums since the Middle East Re...

Updated : 2015.08.26 14:27

Won rises for 2nd day on China's rate cut

The South Korean won gained ground against the U.S. dollar for a second straight session on Wednesday after China's rate cut helped lift appetites for risky assets.The local currency was quoted at 1,186.85 to the greenback as of 1:30 p.m., up 8.45 won from the previous session's close. On ...

Updated : 2015.08.26 09:53

S. Korean consumer sentiment improves for 2nd month in Aug.

Consumer sentiment in South Korea inched up in August, improving for a second straight month, as fears over the Middle East Respiratory Syndrome outbreak ebbed, data showed Wednesday.The overall consumer sentiment index reached 102 in August, gaining from 100 in the previous month, accordi...

Updated : 2015.08.26 09:13

Biz bodies hail inter-Korean deal, vow more economic cooperation

South Korea's business community welcomed a landmark deal Tuesday on defusing inter-Korean tensions, pledging to rev up efforts to expand economic ties with North Korea.After days of intensive high-level talks, the Koreas agreed to ease tensions sparked by Pyongyang's landmine attack that ...

Updated : 2015.08.25 10:39

Won rebounds from 5-year trough after inter-Korean breakthrough

The South Korean won rebounded Tuesday from its five-year low against the greenback on eased inter-Korean tensions and high expectations of a delay in a much-expected U.S. rate hike.The local currency...

Updated : 2015.08.25 09:44

Financial regulator vows to cushion external impact

South Korea's top financial regulator pledged Tuesday to take pre-emptive measures to cushion the fallout from a global stock rout and ease investor jitters.Nagging concerns over China's economic slowdown have rattled the global financial market in recent days, sending local stocks and the...

Updated : 2015.08.25 09:29