BUSINESS
[News Focus] ‘Sagging economy’ faces 2nd rebound in dollar, oil
SEJONG -- Prices of the US dollar and gasoline directly affect a large proportion of South Korean businesses and households in terms of manufacturing costs and purchasing power. While monetary autho...
Jul 18, 2019
Home transactions down 28% in H1
Home sales in South Korea plunged more than 28 percent in the first half of the year compared to a year earlier, data showed Thursday, amid tightened regulations intended to curb rising housing price...
BOK cuts key rate to 1.5% amid uncertainties
South Korea’s central bank on Thursday cut the nation’s policy rate to 1.5 percent, amid mounting external uncertainties, officials have announced. It also decided to sharply slash the country's gro...
BOK slashes policy rate to 1.50%
The Bank of Korea slashed its policy rate by a quarter percentage point to 1.50 percent Thursday in a surprise move to help spur growth amid prolonged trade tensions. The rate cut is the first since...
[Monitor] Koreans make up 24.1% of Japan visitors: data
With boycotts of Japanese products becoming more widespread in South Korea in response to Tokyo’s export restrictions, accompanied by calls to stop visiting the neighboring country in a show of prote...
Jul 17, 2019
S. Korea’s Trade Ministry refutes Japan by revealing catch-all system
The Ministry of Trade, Industry and Energy on Wednesday released details of its “catch-all system” for the country’s trade controls for security, refuting one by one Japan’s claims that South Korea’s...
[News Focus] Portion of pessimists over economy hits record: poll
SEJONG -- A large proportion of self-employed people have closed their businesses and joined the growing number of jobless people over the past two years. Simultaneously, the state payment of unemplo...
S. Korea's national assets grow 8.2% in 2018
South Korea's total wealth grew at a fast pace from a year earlier in 2018 but largely on rapid increases in real estate and housing prices, central bank data showed Wednesday. The country's nationa...
S. Korea considers lowering extra-high inheritance tax rate for top shareholders
South Korea's government and ruling party are considering a move to lower the extra-high rate levied on inheritance tax for top shareholders of big companies, a ruling party official said Monday. So...
Jul 15, 2019
Market closely watches timing, pace of BOK’s upcoming rate cut
There is consensus on a likely rate cut in August, but views differ on further action this year
[News Focus] Seoul apartments resilient to property measures since 2017
SEJONG -- The Moon Jae-in government has introduced stern regulations on rebuilding old apartments or redeveloping old areas in Seoul. Housing redevelopment projects have been effectively blocked in ...
WTO to formally discuss Japan's export curbs on S. Korea
Japan's export restrictions on advanced tech materials that could undermine South Korea's production of semiconductors will be formally discussed at the World Trade Organization, South Korea's commer...
Jul 14, 2019
Japan sees decline in value-added trade surplus with Korea
Tokyo’s export curbs to negatively impact global economy due to correlated trade structure
Exports, investments remain dull amid worsening external conditions: ministry
Seoul’s exports slip amid global price changes, US-China trade war
Jul 12, 2019
BOK to face further delays in construction of new headquarters
The Bank of Korea is likely to experience further delays in the reconstruction of its headquarters as a disputed builder asserted its rights as the successful bidder, challenging the procurement offi...