Making of a ‘liberal icon’ charted

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Korea's deficit in intellectual property rights narrows in Q1

South Korea's deficit in the trade of intellectual property rights narrowed from a year earlier in the first quarter on the back of a sharp cut in shortfalls from industrial property rights, data showed Wednesday.In the January-March period, South Korea posted a trade deficit of $780 milli...

Updated : 2016.08.24 13:14

Finance minister urges parliament to pass extra budget bill

Finance Minister Yoo Il-ho on Wednesday said the National Assembly must speed up deliberation to pass the extra budget plan, adding that the fund must be distributed as soon as possible to effectively revitalize the national economy.Political parties, including the ruling Saenuri Party and...

Updated : 2016.08.24 10:12

Index shows Korea's exports slowing

South Korea’s terms of trade slightly improved last month, according to preliminary data by the Bank of Korea on Tuesday.The terms of trade -- an index that measures a country’s trade performance by...

Updated : 2016.08.23 16:23

Korea, Japan see heightened possibility of resuming swap line

Speculation has been raised here that Japan may propose to reopen a currency swap line with South Korea that was closed in February 2015, during a meeting of finance ministers from the two countries i...

Updated : 2016.08.23 16:21

Korea's terms of trade improve in July

South Korea's terms of trade improved from a year earlier in July due to bigger declines in import prices compared with drops in export prices, central bank data showed Tuesday.The terms of trade index for products came to 100.09 last month, up 0.4 percent from a year earlier, according to...

Updated : 2016.08.23 13:59

Korea, China need to deepen rather than widen cooperation: report

Economic and trade relations between South Korea and China have expanded at an incredible rate since the countries normalized ties 24 years ago, but they must now focus on improving the quality of bilateral cooperation, a report suggested Tuesday.According to the report from Hyundai Resear...

Updated : 2016.08.23 11:09

Korea recoups 66.5% of bailout funds: FSC

The South Korean government recouped 436.4 billion won ($389 million) of bailout funds, mostly used to help ailing financial firms during the 1997-98 Asian financial crisis, in the second quarter of 2016, the nation's top financial regulator said Tuesday.The retrieval of taxpayers' money c...

Updated : 2016.08.23 10:10

[Monitor] Refiners show decent profitability in H1

South Korean refiners, such as S-Oil and SK Innovation, made decent profits in the first half of the year, driven by better-than-expected sales and relatively high cracking margins, according to data ...

Updated : 2016.08.22 16:39

Korean economy ridden with downside risks: think tank

The South Korean economy is expected to attain 2.6 percent growth this year, the same rate recorded in 2015, as sluggish domestic spending and shrinking exports continue to weigh on Asia's fourth-larg...

Updated : 2016.08.22 15:48

Foreign shopping sites preferred for cheaper price tags: poll

South Koreans, who make direct purchases of foreign goods, prefer overseas online shopping malls over local retailers to get better deals, especially on luxury goods, and baby and health products, a s...

Updated : 2016.08.22 15:04

Tax office unaware of self-employed's exact income

South Korean tax authorities can't track down about 27 percent of self-employed people's income, data showed Monday, as they evade taxation through a range of expedient means.According to the National Tax Office and the Bank of Korea, self-employed South Koreans filed tax returns for only ...

Updated : 2016.08.22 10:38

Korea to present road map for new energy business in global conferences 

Since the Paris Climate Agreement last year, Korea has been sparing no effort to take preemptive policy action to brace for a low-carbon economy. The Ministry of Industry, Trade and Energy has been fo...

Updated : 2016.08.22 09:00

Korea’s household savings increase twofold on weak economy

South Korea’s economy saw its household saving rate increase among the fastest in the Organization for Economic Cooperation and Development, according to the OECD.The OECD forecast that Korea’s hous...

Updated : 2016.08.21 17:02

Monthly household spending stays flat in Q2

South Korea's monthly household spending stayed flat in the second quarter from a year ago amid a protracted economic slowdown, a government report showed Friday.An average household spent 2.49 millio...

Updated : 2016.08.19 13:24

Korea to reorganize policy on FEZs to attract more investors

South Korea's trade minister on Friday said the government will revamp its policy on free economic zones to attract more investors as the special areas have failed to offer enough incentives to attrac...

Updated : 2016.08.19 13:19