Most Popular
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Korean, Romanian leaders discuss defense tech, nuclear energy
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Medical standoff deepens as doctors reject new med school plan, talks
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[Graphic News] 77% of young Koreans still financially dependent
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[Herald Interview] Why Toss invited hackers to penetrate its system
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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Public servants and office workers remain most preferred jobs in Korea
While most South Koreans wish to become public servants, in reality they strive to land jobs in the corporate world, a survey showed Friday.According to a Saramin HR, South Korea’s online job recruiting matching platform that surveyed 1,143 adults on job preferences, 66.6 percent of 404 job seekers answered that their desired job and their actual target did not match. To a question asking which jobs they desired the most, irrelevant to how realistic it was, 26.7 percent said working
Nov. 30, 2018
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Two days before budget deadline, political parties continue to bicker
Rival parties on Friday wrangled over the schedule for a plenary session to handle the government's 2019 budget proposal, two days ahead of the legal deadline for its parliamentary passage.Dec. 2 is the deadline to deal with the government's record 470.5 trillion won ($420.1 billion) budget bill, but a parliamentary special committee on the budget has yet to complete its review amid partisan squabbling. A plenary session for the bill was originally scheduled for Friday, which is also the deadlin
Nov. 30, 2018
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BOK raises policy rate to 1.75%
South Korea’s central bank raised the nation’s benchmark interest rate Friday to 1.75 percent, amid growing household debt and further rate hike signals from the United States.The Bank of Korea held its last Monetary Policy Board meeting for this year, in which it decided to raise the key interest rate by 25 basis points to 1.75 percent, officials said.The rate had been frozen at 1.5 percent since November last year, when the BOK made its first hike in more than six years from a reco
Nov. 30, 2018
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Korean president vows efforts to improve ties with Argentina
BUENOS AIRES -- South Korean President Moon Jae-in on Thursday vowed to improve his country's ties with Argentina and increase support for South Korean residents and businesses in the South American nation.In a meeting with some 200 South Korean residents and business leaders in Buenos Aires, Moon said his government will also support the education of second and third generation Koreans in Argentina. "Also, we will further develop the relationship between South Korea and Argentina so you wi
Nov. 30, 2018
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Korea's economic growth forecast to slow to 2.6% in 2019
South Korea's economy is expected to lose steam slightly in 2019 from this year due to weakening exports and sluggish investment, a local think tank said Thursday.In its 2019 economic outlook, the Korea Capital Market Institute forecast South Korea's economic growth to slow to 2.6 percent next year from an estimate of 2.7 percent for this year. The South Korean economy, Asia's fourth-largest, is projected to lose further ground and expand at an annual rate of 2.5 percent in 2020."After peak
Nov. 29, 2018
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Structural reform to slow growth of South Korean economy in 2019: Nomura
Structural reform, both intentional and unintentional, in South Korea's key industries and labor market will slow its economy next year, Nomura Financial Investment Co. said Wednesday.The brokerage firm pointed to restructuring as a key reason for its trimming of the economic growth forecast for 2019 to 2.5 percent from its previous projection of 2.7 percent. The forecast is conservative compared with those by local state entities. The Bank of Korea put the growth outlook for 2019 at 2.7 percent
Nov. 28, 2018
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[Contribution] Setting the stage for an equity market rebound
By all counts, Hong Kong and China stocks have had a roller-coaster year in 2018. The Hang Seng index, after rallying in January to a record high above 33,000, pulled back more than 25 percent to just above 24,500 as US-China trade tensions escalated through the summer. We recently saw a rebound as President Trump signaled a possible rapprochement. We believe this nascent recovery may have more room to run in the near term, based on our assessment of some of the underlying drivers of
Nov. 28, 2018
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Korean investments in overseas securities hit record high in Q3
The amount of foreign securities held by major South Korean institutional investors rose to a record high in the third quarter of this year on growing demand for overseas bonds, central bank data showed Wednesday.The value of foreign stocks and bonds owned by institutions came to US$261.2 billion as of the end of September, up 3.7 percent, or $9.3 billion, from three months earlier, according to the data compiled by the Bank of Korea. The latest outstanding balance of foreign securities exceeded
Nov. 28, 2018
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Economic measurements should move ‘beyond GDP’: experts
The excessive focus on gross domestic product has often misguided economic policies and has to some extent contributed to major global challenges including the 2008 global financial crisis, according to key speakers participating in the Organization for Economic Cooperation and Development’s sixth World Forum held here Tuesday.In the case of South Korea, policymakers need to address agenda related to subjective well-being, such as long working hours, they said. The OECD and Statistics Kore
Nov. 27, 2018
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Finance minister calls on parliament to approve record budget proposal
South Korea's chief economic policymaker on Tuesday urged parliament to approve a record budget proposal for 2019, stressing that passing it is necessary to help resolve chronic problems, such as the low birthrate and dismal job conditions.The National Assembly's review of the government's 2019 budget proposal hit a snag as rival parties sparred over an estimated shortfall in tax revenue at a meeting of the subpanel on the budget. The legal deadline to review the government's record 470.5 trilli
Nov. 27, 2018
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Korean biz sentiment hits 22-month low for December
Business sentiment in South Korea sank to a 22-month low for December amid flaccid domestic demand and worsening export conditions, a poll showed Tuesday.The business survey index of the nation's top 600 firms by sales came to 88.7 for next month, down from 90.4 in November and the lowest level since 87.7 in February 2017, according to the Korea Economic Research Institute. A reading below 100 means pessimists outnumber optimists, while a figure above the benchmark means the opposite.The p
Nov. 27, 2018
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[Herald Interview] S. Korea should ease up on growth pace, focus on reforms: OECD chief
Despite pessimistic projections for global growth and consequent market anxiety, South Korea’s economy is expected to put up a reasonably good fight in the coming years, according to the chief official of the Organization for Economic Cooperation and Development.The primary concern for Asia’s fourth-largest economy, however, is whether it can expand beyond the conventional frame of economic measurements and use its capacities and potential to fundamentally improve people’s live
Nov. 27, 2018
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Public accountants grim about biz conditions: poll
A majority of South Korean certified public accountants are gloomy about the country's current business conditions and their outlook for next year due to anemic domestic demand and other negatives, a poll showed Tuesday.According to the survey of 300 accountants conducted by the Korea Institute of Certified Public Accountants, the business survey index stood at 64 for the second half of the year. The figure for the first half of 2019 came to 69.A BSI reading below 100 means pessimists outnumber
Nov. 27, 2018
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Korea's economy to grow 2.6 pct in 2019: KIET
South Korea's economy is expected to grow 2.6 percent in 2019 due to slowing exports and weak domestic demand, a state-run think tank said Monday. The Korea Institute for Industrial Economics & Trade also lowered this year's gross domestic product outlook to 2.7 percent, down from 3 percent growth released in June. The institute said it downgraded next year's GDP projection due to protracted global trade tensions, monetary tightening in major economies and uncertainties in emerging markets.&
Nov. 26, 2018
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FTC chief stresses importance of revision to fair trade law
South Korea's corporate watchdog chief said Monday that the revision to the fair trade law is very important for the impartial implementation of the country's antitrust rules."The revision is very important in that it would determine the implementation of the country's competition law," Kim Sang-jo, the chief of the Fair Trade Commission, said in a forum. The FTC chief, however, said it would be very tough for the revision to be ratified by the parliament as there are still huge differ
Nov. 26, 2018
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Widening income inequality heightens call for policy change
Official data showing a continuous widening of income inequality have strengthened calls on the Moon Jae-in administration to scrap its income-led growth policy.Economists urge President Moon and his economic aides to focus on accelerating regulatory reforms and other efforts to reinvigorate corporate activity rather than sticking to the policy that they say has increased the problems of poorer people.According to data released by Statistics Korea last week, the average monthly income of the poo
Nov. 26, 2018
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OECD World Forum to take place in Songdo this week
Global leaders, scholars and policymakers from all sectors of society are to gather in Incheon’s Songdo area this week to discuss well-being and inclusive growth, according to the Organization for Economic Cooperation and Development and Statistics Korea.The sixth OECD World Forum, titled “The Future of Well-being” and held jointly by the OECD and South Korea’s statistics office, will take place at Songdo Convensia in the western metropolitan city of Incheon from Tuesday
Nov. 26, 2018
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Bulk of smaller firms gloomy about sales
More than 7 in 10 small and medium-sized enterprises in South Korea are gloomy about their sales this year due to dwindling demand at home and abroad, a poll showed Monday.According to the survey of 362 smaller and large companies, 74 percent of the SMEs polled expected their 2018 sales to match those of last year or plunge sharply. Nearly 11 percent of them forecast their shipments to tumble more than 30 percent, while slightly over 34 percent projected declines of 10 to 30 percent. Some 29 per
Nov. 26, 2018
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Majority Koreans recognize forests' role in improving life: survey
South Koreans are aware of the benefits of forests and their role in improving quality of life, according to a survey conducted by the National Institute of Forest Science under the Korea Forest Service.The nationwide survey was carried out in May and involved 2,624 adults residing in 17 areas of the country (provinces or major cities). Respondents were asked to rate the connections between forests and quality of life in 11 categories.When respondents were asked how much forests had influenced t
Nov. 25, 2018
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Money continuing to flow into Seoul, Gyeonggi: KIET
South Korea's capital city of Seoul and the neighboring Gyeonggi Province continue to attract money from other parts of the country despite efforts to strive for balanced growth, a report by a state-run think tank said Sunday.According to the report by the Korea Institute for Industrial Economics and Trade, nine out of the 16 major cities and provinces in the country posted a net outflow of factor income as of 2016.Factor income refers to the total earnings generated by people and companies with
Nov. 25, 2018