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Economically inactive youth, soaring prices dog Korea

The number of South Korean youths choosing to stay out of the job market is surging, reflecting a worsening job market and labor force quality, data showed Tuesday. Statistics Korea said the number ...

Updated : 2017.03.21 16:11

[MONITOR] Lee Kun-hee jumps to 68th richest in Forbes list

The latest update on the world‘s billionaires by Forbes showed that Bill Gates remained the richest for a fourth year in a row. Amazon’s Jeff Bezos had the best year, adding $27.6 billion to his fo...

Updated : 2017.03.21 16:09

‘Korea could suffer $20b loss from sour ties with China’

South Korea could suffer $20 billion in economic losses if its already-soured relations with China exacerbates, an industry report said Tuesday. Korea is already suffering from China’s apparent eco...

Updated : 2017.03.21 16:06

Hwang calls for all-out efforts to manage risks from US interest rate hike

South Korea's Acting President and Prime Minister Hwang Kyo-ahn on Tuesday called for all-out efforts to manage economic risks stemming from the US Federal Reserve's recent decision to raise key inte...

Updated : 2017.03.21 12:39

Exports jump 14.8% in first 20 days of March

South Korea's exports jumped 14.8 percent in the first 20 days of March from a year earlier, continuing their upbeat mode for five straight months, customs data showed Tuesday. The total outbound sh...

Updated : 2017.03.21 09:08

Korea appeals China’s possible violations to WTO: trade minister

South Korea has complained to the World Trade Organization about China’s moves against the country’s companies, which are apparently in retaliation against Seoul’s decision to deploy a US anti-mis...

Updated : 2017.03.20 18:25

[MONITOR] Franchise stores close down at record pace

The number of closed down franchise stores nationwide in 2015 reached 13,241, 19.7 percent more from the previous year, data by the Fair Trade Commission showed. This means an average of 36 stores c...

Updated : 2017.03.20 16:15

Reshoring not yet an option for most Korean firms

Calls are rising for the government to redouble efforts to bring home Korean manufacturers’ overseas production as a way to help reduce the country’s soaring unemployment. Only 30 companies have r...

Updated : 2017.03.20 15:09

Korea lags behind US in key economic indicators

South Korea has lagged behind the United States in key economic indicators as its economy remains in the doldrums in contrast with America's full-fledged recovery, data showed Monday. South Korea ha...

Updated : 2017.03.20 11:43

[MONITOR] Korea works long hours with low productivity

South Korea‘s average hours worked ranks among the highest levels of the Organization of Economic Cooperation and Development countries, but its productivity failed to reach even half the level of a...

Updated : 2017.03.20 11:18

Electricity price cut yet to affect household power consumption

Household power consumption remained almost the same for the first two months in 2017 from a year earlier despite the government lowering electricity rates in December, data showed Monday. The gover...

Updated : 2017.03.20 10:25

Inter-Korean economic gap stays wide in 2016

The economic gap between South and North Korea remained wide in 2016 as the South Korean economy, Asia's fourth largest, expanded at a much faster clip, a US intelligence report said Monday. In term...

Updated : 2017.03.20 09:18

Absence of anti-protectionism in G-20 statement adds risk to Korea

The lack of reference to anti-protectionism in a joint statement released after a meeting of G-20 finance ministers and central bank governors over the weekend poses greater risks to trade-reliant Ko...

Updated : 2017.03.19 16:41

Majority of businesses adopt wage peak system after retirement age extension: data

Nearly 7 out of 10 companies with more than five employees have adopted a "wage peak" or incentive payment systems since the introduction of legislation to extend the retirement age to 60 in 2013, a ...

Updated : 2017.03.19 14:04

Finance minister out to assure global credit agencies

Finance Minister Yoo Il-ho met with global rating firms in an attempt to assure credit appraisers of the economic situation in the aftermath of former president Park Geun-hye’s impeachment on the ev...

Updated : 2017.03.17 17:36