Most Popular
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Probe of first lady on Dior bag allegations set to begin
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Indonesia’s KF-21 fighter jet deal cut back -- what’s next?
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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Police seek arrest warrant for med student who killed girlfriend
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Local filmmakers criticize ‘The Roundup: Punishment’ monopoly of screens
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Will China's self-sufficient dream in HBM come true?
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Banks’ capital adequacy slips on Hana dividend
Korean lenders’ average capital adequacy ratio fell in the fourth quarter after Hana Bank helped finance its parent company’s purchase of Korea Exchange Bank. The ratio, a measure of capital reserves against assets at risk under the Basel II standard, slipped to 14.6 percent at the end of December from 14.62 percent three months earlier, the Financial Supervisory Service said in a statement. The a
March 9, 2011
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Finance minister sees inflation as economic drag
Growing inflationary pressure is adding uncertainties to South Korea's economic recovery, the nation's top economic policymaker said Wednesday, calling for the government to crank up efforts to keep prices under control. "Inflation partly stems from supply-side shocks, such as higheroil prices and supply shortages of agricultural products caused byunseasonal cold spells and the foot-and-mouth di
March 9, 2011
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Default rate of household loans rises in 2010
The delinquency rate of Korean financial companies‘ household loans gained in 2010 from a year earlier, a report showed Tuesday, adding concerns over worsening loan repayment ability.The default rate stood at 1.09 percent of their total lending as of the end of 2010, up 0.06 percentage point from end-2009, the Financial Supervisory Service said in the report to the National Assembly.Out of the tot
March 8, 2011
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Further softening seen in domestic demand: ministry
Korea’s Finance Ministry said on Tuesday in a closely watched monthly report that economic uncertainty has increased globally and that domestic demand in Asia’s fourth-largest economy showed signs of softening. “Recovery in the world economy is improving but uncertainty has increased due to such factors as the political unrest in the Middle East, possible monetary policy tightening in emerging eco
March 8, 2011
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S. Korea's savings rate well below OECD average: report
South Korea's household savings rate stayed far below the average for major economies in the world, a report showed Monday, apparently indicating that the latest economic crisis resulted in a decline in income reserved for banksavings.According to the report by the Organization for Economic Cooperation and Development (OECD), South Korea's household savings rate -- the ratio of savings to total di
March 7, 2011
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Big businesses come up with ‘shared growth’ plans
Major companies are devising plans to support their suppliers in line with a government-led campaign for “shared growth” between large and small firms.A range of companies are coming up with plans to help their smaller partners with financing, research and materials procurement despite a recent feud with the government over the profit sharing scheme. The push on big businesses to extend their prof
March 6, 2011
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40 websites bombarded by cyber attacks
Cheong Wa Dae, USFK sites hit but no damage reportedWebsites of about 40 key South Korean institutions, including the presidential office and the Ministry of Foreign Affairs and Trade, came under cyber attack on Friday.Although there was no serious damage caused by the attack, the websites were hit bydistributed denial-of-service attacks around 10 a.m.The attacked websites included a number of gov
March 4, 2011
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Industrial output rises faster than expected
Experts remain cautious due to oil prices, external uncertaintiesKorea’s industrial output grew faster than expected in January on strong overseas demand, with semiconductor and auto makers leading the way, official figures showed Thursday.But the government remained cautious about future economic trends, citing higher oil prices and other external factors that might serve as a drag on recovery he
March 3, 2011
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Obama soon to submit Korea FTA to Congress for ratification: Clinton
The Obama administration will soon present the pending free trade deal with South Korea to Congress for ratification, Secretary of State Hillary Clinton said Wednesday. "I hope that that agreement will be submitted soon and acted on soon by the Congress," Clinton told a Senate Foreign Relations Committee. "I think it is very much in America's strategic and economic interests."President Barack Ob
March 3, 2011
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Korea-EU FTA bill to be tabled in parliamentary committee
A ratification motion for the free trade agreement between South Korea and the European Union will be presented to a parliamentary committee on Thursday for approval, lawmakers said. The ruling Grand National Party aims to pass the Korea-EU FTA motion through the National Assembly Committee on Foreign Affairs, Trade and Unification next Wednesday after two days of intensive discussion at its leg
March 3, 2011
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S. Korea's industrial output grows 13.7 pct in Jan.
South Korea's industrial output grew for the 19th straight month in January, a strong indication that the national economy is continuing to expand, a government report showed Thursday. According to the report by Statistics Korea, production in the mining and manufacturing industries rose 13.7 percent last month from the same month a year earlier. The output has increased since July 2009. Outpu
March 3, 2011
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Samsung scoops 30 design awards
Samsung Electronics Co. announced Tuesday that it won 30 prizes, including two top honors, at an international design exhibition.The Korean electronics giant said it grabbed 30 awards at the 2011 iF Product Design Award. Organized by the International Forum Design in Hanover, Germany, since 1953, the award recognizes products for their overall design, originality and their consideration for enviro
March 2, 2011
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Vizio overtakes Korean firms in N. American LCD TV market
Korean TV makers were overtaken by Taiwan‘s Vizio Inc. in North America’s liquid crystal display TV market last year, according to a market research firm Wednesday.Vizio sold 6.96 million LCD TVs in the United States and Canada, accounting for 18.2 percent of LCD TVs sold in the market last year, according to data from market researcher DisplaySearch. Samsung sold 6.72 million LCD TVs in 2010, cla
March 2, 2011
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European buyers to increase Korean imports after FTA
Korean exports to the European Union are expected to register solid gains once a bilateral free trade agreement takes effect, a local trade organization said Wednesday.The Korea Trade-Investment Promotion Agency (KOTRA) said a survey of Europe’s 26 largest importers showed they will increase their purchases of Korean products by up to 15 percent once the Korea-EU FTA is enforced.The trade deal, si
March 2, 2011
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Koreans forecast to be 4th richest in 2040s
South Korea is expected to emerge as the world’s fourth richest country in terms of purchasing power in the 2040s, according to a report by Citigroup.The country’s economic surge will be powered by its high levels of technology and human resources and would be further boosted by a possible reunification with North Korea, analysts said.According to the U.S. investment bank’s report, cited by the Ko
March 2, 2011
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S. Korea's consumer prices jump 4.5 pct in Feb.
South Korea's consumer prices grew sharply in February mainly due to soaring food and energy-related product costs, adding to concerns that mounting inflationary pressure could undercut the nation's economic recovery, a government report showed Wednesday. According to the report by Statistics Korea, the country's consumer price index surged 4.5 percent last month from a year earlier. The figu
March 2, 2011
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Conglomerates blast profit sharing scheme
Critics accuse former Prime Minister Chung of ignoring market economics A government-led initiative for profit sharing between large and small firms has sparked fury among conglomerates, politicians and academics who call it a “radical leftist” attempt to encroach on the free market economics.Chung Un-chan, a former prime minister who now heads the semi-official commission for “shared growth,” ann
March 1, 2011
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Korea posts $2.85b trade surplus in Feb.
Surplus down from January but country posts record daily exports of $2.05b despite Mideast turmoilKorea posted a $2.85 billion trade surplus in February, the 13th straight month that it has recorded a favorable balance, official figures showed Tuesday.The preliminary figures marked a slight decline from the revised $2.92 billion surplus for January, the Ministry of Knowledge Economy said.Exports i
March 1, 2011
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S. Korea's trade surplus reaches $2.8 bln in Feb.
South Korea's trade surplus reached $2.84 billion in February mainly due to solid export gains in the face of unfavorable global developments, a government report showed Tuesday. The February trade surplus marked a slight dip from the $2.92 billion tallied for January, although on a daily basis exports reached a record 2.05 billion, the report by the Ministry of Knowledge Economy said, This mark
March 1, 2011
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U.S. working hard to ratify Korea FTA this spring: USTR
WASHINGTON -- The Obama administration is working hard to clear the pending free trade deal with South Korea through Congress this spring so as not to lag behind the European Union, which ratified a similar deal with Seoul set to take effect in July, the chief U.S. trade official has said. "The EU-Korea trade agreement is scheduled to take effect on July 1 of this year," U.S. Trade Representa
March 1, 2011