Defense chief: odds of N. Korea's provocation growing

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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

Over 60 pct of S. Korean firms back joining in U.S.-led trade

More than three out of five companies in South Korea have expressed support for the country's participation in a U.S.-led regional free trade deal, known as the Trans-Pacific Partnership, citing a possible hike in exports, a survey showed Thursday.The TPP is a multilateral free trade pact ...

Updated : 2015.06.25 10:48

S. Korean consumer sentiment hits over 2-year low on MERS scare

Consumer sentiment in South Korea took a hard blow from Middle East Respiratory Syndrome in June, plunging to its lowest level in more than two years, amid growing concerns the outbreak will put a dent in Asia's fourth-largest economy, data showed Thursday.South Korea is struggling to cont...

Updated : 2015.06.25 09:47

Value of apartments in S. Korea up 2.4 pct in H1

The market value of all apartments in South Korea grew more than 2 percent over the past six months, apparently helped by the government's stimulus efforts and record-low interest rates, industry data showed Wednesday.The value of 7,066,644 apartments across the country totaled around 2,07...

Updated : 2015.06.24 09:40

MERS fallout seen to have tapered off: BOK governor

The chief of South Korea's central bank on Wednesday said the adverse impact of Middle East Respiratory Syndrome on domestic demand appears to have fizzled out one month after its first outbreak in Asia's fourth-largest economy."Some weekly consumption-related indicators showed that while ...

Updated : 2015.06.24 09:34

Heavy household debt poses risk to S. Korea: Fitch

Heavy and rising household debt poses a potential risk to South Korea's economy as a sharp rise in defaults could disrupt its financial stability, global credit appraiser Fitch Ratings said Tuesday. The falling debt level among government and state enterprises is positive for the nation's ...

Updated : 2015.06.23 16:40