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More than half of all wages based on seniority

More than half of all salaries in 170 major South Korean companies are based on employee seniority, a new poll showed Thursday. The poll released by the Korea Economic Research Institute found that ...

May 10, 2018
Economy
Korean economy losing growth momentum

Recent economic data have pointed to the weakening vitality of the Korean economy, raising questions about the possibility it will grow more than 3 percent this year as predicted by policymakers. Th...

May 9, 2018
Economy
Naver vows to relinquish news editing, search words after opinion-rigging scandal

Critics say measures a step-up but fail to address fundamental issue

May 9, 2018
Economy
[Monitor] 6.8 years needed to own home in Korea

It takes an average of 6.8 years of savings to own one’s first home in South Korea, as of last year, slightly longer than 6.7 years tallied in 2016, according to analyses on housing in the country co...

May 9, 2018
Economy
Economic growth on track, but daunting tasks still remain

SEJONG -- The South Korean economy is on a firm growth trajectory under the Moon Jae-in government, but a dire job market situation, coupled with controversy over the effects of a raft of new economi...

May 9, 2018
Economy
Moon failing to deliver on economic promises

A year into his five-year term, President Moon Jae-in is finding public support for his economic policies far lower than his high approval ratings. A survey of 1,002 Korean adults conducted by Gallu...

May 7, 2018
Economy
S. Korea's risk premium hits yearly low on eased N. Korea woes

South Korea's credit default risk has hit a yearly low amid rising hope for reconciliation between the two Koreas after Seoul and Pyongyang successfully held a summit last month, data showed Satuday....

May 5, 2018
Economy
Korean president calls for enhanced cooperation with Saudi Arabia

South Korean President Moon Jae-in called for joint efforts to boost economic cooperation between his country and Saudi Arabia Friday, stressing the need to expand their bilateral cooperation to othe...

May 4, 2018
Economy
Korea, Saudi Arabia discuss ways to expand energy cooperation

South Korea and Saudi Arabia discussed ways to step up cooperation in the energy sector as Seoul seeks to tender a bid for the Middle Eastern nation's nuclear power project, the industry ministry her...

May 4, 2018
Economy
Seoul, Beijing, Tokyo oppose trade protectionism, hail inter-Korean summit

MANILA -- Finance chiefs from South Korea, China and Japan on Friday warned against growing protectionism trends and stressed the importance of promoting an open and rule-based trade framework. "We ...

May 4, 2018
Economy
[Monitor] Growth of household loans hits 5-month high

South Korea‘s personal loans increased by over 1 trillion won ($929 billion) to 99.7 trillion won in April, pushing the overall household loans to grow at the fastest speed in five months in April, d...

May 3, 2018
Economy
[Monitor] Korea's trade dependence increases for first time in 6 years

South Korea’s reliance on trade climbed in 2017 for the first time in six years, data from the Bank of Korea showed Wednesday. The share of the country‘s trade to its gross national income came to 8...

May 3, 2018
Economy
Applicants for 'unemployment credits' jump in Q1

South Korea saw more jobless people seek financial assistance from the state pension fund in the first quarter of this year amid the country's worsening unemployment situation, data showed Thursday. ...

May 3, 2018
Economy
Hyundai Mobis to retire $600b of treasury stocks

Hyundai Mobis, the auto parts maker affiliate of Hyundai Motor Group, said Wednesday that it will retire treasury stocks worth 587.5 billion won ($546 million) over the next three years as part of it...

May 2, 2018
Economy
BOK chief to attend meeting of Southeast Asian central bank governors

South Korea's central bank chief will attend a meeting with his counterparts from countries of Southeast and Northeast Asia later this week, the Bank of Korea said Wednesday. BOK Gov. Lee Ju-yeol wi...

May 2, 2018
Economy

The Korea Herald by Herald Corporation

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Publisher. Editor : Kwon Chung-won
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