The Korea Herald

Rapidly aging population raises alarm over tax revenues: study

Jan 5, 2021

If the aging population continues to rise, the ratio of value-added taxes to the nation’s gross domestic product will sharply drop, raising calls for the government’s tax rises to meet the costs of s...
S. Korea's farm goods exports hit record high in 2020

Jan 5, 2021

South Korea's exports of agriculture products reached an all-time high of $7.57 billion last year on the back of strong demand for kimchi and processed foods, data showed Tuesday. The record amount ...
Finance minister, BOK chief warn of 'one-sided' cash flow

Jan 5, 2021

South Korea's top economic policymaker and the chief of the central bank said Tuesday that more prudent risk management is necessary as much of the idle money is flowing into assets, such as property...
Seoul stocks open lower on virus concerns, profit-taking

Jan 5, 2021

South Korean stocks opened lower Tuesday, tracking overnight Wall Street losses over jitters from the coronavirus pandemic. The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.28 points, ...
Spending on alcohol, tobacco hits record high in Q3 amid pandemic

Jan 5, 2021

South Koreans' spending on liquor and cigarettes reached an all-time high in the third quarter of 2020 amid the coronavirus outbreak, central bank data showed Tuesday. Local households spent 4.3 tri...
S. Korean builder sentiment falls in Dec. amid coronavirus resurgence

Jan 4, 2021

South Korean builders' business sentiment edged down in December from a month earlier due to a resurgence of coronavirus infections, a poll showed Monday. The construction business survey index (CBS...
S. Korea targets 3.2% growth, housing market stabilization in 2021

Jan 4, 2021

Finance Minister Hong Nam-ki on Monday reiterated the government’s commitment for economic growth of 3.2 percent this year and stressed its drive to stabilize soaring housing price at the same time. ...
S. Korea's FTA networks set to further expand in 2021

Jan 4, 2021

South Korea's free trade deals may further increase this year in line with its efforts to revitalize its ailing pandemic-hit exports and cope with the growing protectionism around the globe, a trade ...
More efforts to be focused on stabilizing housing market this year: finance minister

Jan 4, 2021

Finance Minister Hong Nam-ki said Monday that the government will spare no efforts this year to stabilize housing prices that have been rising despite a series of measures to cool down the property m...
S. Korea's wine imports hit new high in 2020 amid coronavirus outbreak

Jan 4, 2021

South Korea's wine imports soared to a record high in 2020 as more people enjoyed drinking and partied at home due to the coronavirus outbreak, government data showed Monday. South Korea imported $2...
S. Korea's exports fall 5.4% in 2020 on COVID-19 fallout

Jan 1, 2021

South Korea's exports decreased 5.4 percent in 2020 from the previous year amid the new coronavirus pandemic, data showed Friday, but the decline was partially cushioned by the latest recovery in the...
Lingering COVID-19 risks cloud S. Korea’s anticipated recovery in 2021

Dec 31, 2020

Despite vaccine hopes, experts say Korea’s economy faces some permanent damage from the pandemic
Consumer prices grew 0.5 % in 2020

Dec 31, 2020

South Korea‘s consumer price inflation hovered below 1 percent this year for the second consecutive year, data showed Thursday. According to data by Statistics Korea, the consumer price index stood ...
BOK chief to pay more attention to jobs in 2021 monetary policy

Dec 31, 2020

South Korea's central bank will pay more attention to jobs in its monetary policy next year, Bank of Korea (BOK) Gov. Lee Ju-yeol said Thursday, as the coronavirus pandemic has ravaged the labor mark...
Insurers' financial health improves in Q3

Dec 31, 2020

South Korean insurance companies saw their financial health improve in the third quarter as more profits and share price gains bolstered capital, data showed Thursday. The risk-based capital (RBC) r...