President says will be no tax hike for low-income firms, people

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FTC chairman vows to strengthen enforcement of fair trade law

The head of South Korea's antitrust watchdog said Monday that he will strengthen the enforcement of fair trade laws by expanding civil actions against rule-breaking companies. "I will introduce a sy...

Updated : 2017.07.10 11:01

Foreign cruise tourists fall sharply amid China sanctions: data

The number of foreign cruise tourists visiting South Korea has declined sharply in recent months, government data showed Monday, amid a diplomatic row with China over the deployment of a US anti-miss...

Updated : 2017.07.10 10:56

Homes becoming less affordable as prices, interest rates rise

Rising home prices and loan interest rates have made houses the least affordable in over four years, the latest data showed Monday. According to the Korea Housing-Finance, the Korea-housing affordab...

Updated : 2017.07.10 10:05

State pension fund buys up stakes in Hyundai Heavy spinoff companies

Korea's state-run pension fund has increased its holdings in three spinoff companies of Hyundai Heavy Industries Co., data provided by a local market research showed Sunday. According to FnGuide Inc...

Updated : 2017.07.09 14:12

Korean companies vexed as THAAD issue unresolved

South Korean companies’ high hopes were struck down following President Moon Jae-in’s Thursday meeting with Chinese President Xi Jinping, as the two countries failed to strike an accord to cease Ch...

Updated : 2017.07.07 17:48

[Monitor] Aging population threatens to undermine growth

South Korea’s rapidly aging population could become a hurdle to economic growth in the near future, according to economists at the Bank of Korea. According to central bank’s data, the number of So...

Updated : 2017.07.07 16:58

Korea's 2017 growth outlook raised by Nomura to 2.7%

Japanese bank Nomura Holdings joined several global investment banks on Friday in raising South Korea's economic growth forecast for this year. Kwon Young-sun, a chief economist at Nomura, upgraded ...

Updated : 2017.07.07 16:19

BOK expected to hold policy rate steady in July: Moody's Analytics

South Korea's central bank is expected to hold its key rates steady this month as it could move to "normalize" interest in early 2018, Moody's Analytics said Friday. The Bank of Korea is set to hold...

Updated : 2017.07.07 16:06

Citibank starts shutting down branches in Korea

Citibank Korea, the South Korean unit of Citigroup, began shutting down five physical branches in the country Friday, as part of its plan to reorganize its operations, according to an industry source...

Updated : 2017.07.07 10:21

Bananas become top-selling fruit

Bananas were the most sold fruit in the first half of the year, according to leading retail giant E-mart on Friday, replacing the longtime favorite apples. E-Mart said it sold 37.6 billion won ($32....

Updated : 2017.07.07 10:16

Korea's rapidly aging population feared to sap economic growth

South Korea's rapidly aging population could undermine the country's growth in the coming years, local economists said Thursday, in the latest warning to the Asian country mired with a low birthrate....

Updated : 2017.07.06 16:31

Frozen food sales up amid more one-person households: data

Sales of frozen foods have risen sharply in recent months, industry data showed Thursday, amid an increase in one-person households in South Korea, industry data showed Thursday. GS25, South Korea's...

Updated : 2017.07.06 16:23

[News Analysis] Trade experts debunk Trump’s ‘unfair’ FTA claims

Amid drawn-out speculation over the future of the Korea-US Free Trade Agreement, the two countries have been voicing differing views regarding the mutual benefits of the bilateral trade deal, which h...

Updated : 2017.07.06 16:11

Seoul official calls for Asian transition to low-carbon economy

A senior diplomat on Thursday outlined South Korea's commitment to environment-friendly energy policy, including plans to reduce its dependency on coal and nuclear power plants, and sharply increase ...

Updated : 2017.07.06 15:09

Department stores see sales drop amid rising online shopping

South Korean department stores saw their sales fall in May as more consumers opted for online shopping, government data showed Thursday. The department stores' sales index dropped 4.6 percent in May...

Updated : 2017.07.06 13:10