Top U.S. envoy urges N. Korea to release detained Americans

The Korea Herald > Business > Economy

Industrial output shrinks sharpest in nearly 6 years

Korea’s industrial output shrank at the sharpest pace in nearly six years in August, raising worries that the economic recovery might be losing its momentum, a government report showed Tuesday. Accor...

Updated : 2014.09.30 20:45

Korean manufacturers’ confidence rises for October

South Korean manufacturers’ business sentiment for next month remained negative but jumped to a three-month high, a poll showed Tuesday.The business sentiment index, which measures manufacturers’ outlook on their business situation for the coming month, came in at 78 for October, compare...

Updated : 2014.09.30 20:18

Shares down on currency corporate earnings woes

South Korean stocks ended lower on Monday on concerns that local firms’ earnings would be worse than previously expected. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock PriceIndex shed 5.04 points, or 0.25 percent, to 2,026.60. Trading volume was moder...

Updated : 2014.09.29 21:02

Won-yen rate may drop to 800 won

The won-yen exchange rate is likely to drop to the 800 won level in the third quarter of next year as Japan is expected to continue quantitative easing to boost its economy, according to global financ...

Updated : 2014.09.28 21:27

S. Koreans, firms invest nearly $23b in tax havens

South Korean companies and individuals invested nearly $23 billion in 50 tax havens over the past seven years, data showed Sunday.    According to the data by the National Tax Service and the Export-Import Bank of Korea, South Korean individuals and companies invested $22.77 billion in t...

Updated : 2014.09.28 13:58

S. Korea moves to levy anti-dumping duties on ethanolamine imports

South Korea's trade commission said Friday it has decided to impose punitive duties of up to 21.79 percent on ethanolamine imports from four countries, including the United States and Japan.The decision followed a 10-month probe into allegations of dumping by a local importer of the chemic...

Updated : 2014.09.26 10:28

[Graphic News] Rents grow far faster than income

The price-to-income ratio of “jeonse” rental deposits reached 6-to-1 in Seoul from 2004 to hit a decade high, according to data from Statistics Korea. The PIR of rental deposits is a ratio of median...

Updated : 2014.09.25 21:28

Yeongjongdo to turn into Korea’s Las Vegas

A 2.3 trillion-won ($2.2 billion) casino resort project in Midan City on Yeongjongdo Island within the Incheon Free Economic Zone is expected to launch before the opening of the PyeongChang 2018 Winte...

Updated : 2014.09.25 21:11

[Graphic News] Labor participation rises among women in 20s

The labor participation rate for women in their 20s stood at 64.6 percent in the second quarter of this year, up from 63.3 percent in the previous quarter, government data showed. The figure is higher...

Updated : 2014.09.23 21:21

National debt nears 490 trillion won in 2013: data

South Korea’s national debt neared 490 trillion won ($470.8 billion) in 2013 as the government increased borrowing to make up for its deficit, a government report showed Tuesday.According to the report by the Finance Ministry, the debt owed by the central and provincial governments came t...

Updated : 2014.09.23 21:18

South Korea's national debt nears 490 tln won in 2013: gov't data

South Korea's national debt neared 490 trillion won ($470.8 billion) in 2013 as the government increased borrowing to make up for its deficit, a government report showed Tuesday.According to the report by the finance ministry, the debt owed by the central and provincial governments came to...

Updated : 2014.09.23 09:51

Automobile sector to benefit from Korea-Canada FTA

South Korea will sign a free trade deal with Canada early Tuesday, allowing the two countries to eliminate almost all tariffs on agreed-upon items over the next 10 years.In particular, Seoul is expect...

Updated : 2014.09.21 20:18

Piketty warns of S. Korea's chaebol factor

Thomas Piketty, whose treatise on economic equality has taken the international economic community by storm, raised the need for property renewal in South Korea where massive wealth is often inherited among a few, select conglomerate clans. "You cannot have the same families forever. There...

Updated : 2014.09.20 09:50

Korean won extends loss to dollar

The South Korean won continued to decline against the U.S. dollar Friday, extending its loss to the second consecutive session as it moves in tandem with the global trend of the strong dollar following the Federal Reserve meeting.The local currency ended at 1,044.60 won against the greenba...

Updated : 2014.09.19 21:05

National debt to hit W570tr next year

The government plans to spend 376 trillion won ($361 billion) in 2015, up 5.7 percent from this year, as it seeks to revitalize the economy and increase welfare.The Ministry of Strategy and Finance sa...

Updated : 2014.09.18 21:45