The Korea Herald

S. Korea to further nurture insects industry

Apr 8, 2021

South Korea's agricultural ministry said Thursday it plans to expand the size of the insects market to 140 billion won ($124 million) by 2025 and foster the segment as a new growth engine for the cou...
Fitch raises outlook on Hyundai, Kia to stable

Apr 8, 2021

Fitch Ratings has raised the rating outlooks on Hyundai Motor Co. and Kia Corp. to stable from negative due to improved product mix and profitability, the ratings firm said Thursday. The revision re...
Anti-speculation measures to ramp up: finance minister

Apr 8, 2021

SEJONG -- The government will make efforts to revise a set of laws this year to help root out real estate speculation, Finance Minister Hong Nam-ki said Thursday, amid growing public criticism over a...
Fiscal chief warns of protectionism in guise of climate change policies

Apr 7, 2021

South Korea’s Finance Minister Hong Nam-ki on Tuesday told global fiscal policymakers that they should refrain from using climate change policies as a tool of trade protectionism. “Climate change po...
Economic slump easing on improving manufacturing sector: KDI

Apr 7, 2021

The South Korean economy sees its slumps easing as the manufacturing sector has continued to improve on the back of robust exports, a state-run think tank said Wednesday. The service sector is still...
S. Korea to temporarily lift import duties on corn to stabilize prices

Apr 7, 2021

South Korea plans to temporarily remove tariffs on some imported grains including corn in an effort to help rein in rising food prices, the finance minister said Wednesday. The country plans to impo...
Tax revenue up W8.7tr in February

Apr 7, 2021

South Korea's tax revenue rose 8.7 trillion won ($7.8 billion) in February from a year earlier due largely to an increase in the collection of income taxes, the finance ministry said Wednesday. The ...
Current account surplus widens in February

Apr 7, 2021

South Korea's current account surplus widened in February as exports showed signs of a gradual recovery from the COVID-19 pandemic, the central bank said Wednesday. The current account surplus reach...
Credit unions' 2020 net up due to brisk non-banking biz

Apr 7, 2021

South Korea's credit unions, or member-owned financial cooperatives, saw their combined net profit edge up 0.2 percent in 2020 from a year earlier due to higher sales of non-banking businesses, data ...
IMF maintains S. Korea’s 2021 economic growth outlook at 3.6%

Apr 6, 2021

South Korea’s economy is expected to grow 3.6 percent this year in the wake of the coronavirus pandemic, but it will grow 2.8 percent in 2022 as the world economy recovers, the International Monetary...
South Korea’s total liabilities surpass GDP for first time

Apr 6, 2021

South Korea has seen the largest and fastest increase in total national liabilities last year, as it neared the 2,000 trillion won ($1.78 trillion) mark and exceeded the country’s gross domestic prod...
Financial holding firms' 2020 net down on increased provisions

Apr 6, 2021

South Korea's 10 financial holding firms saw their combined net profit edge down last year, due mainly to higher loan-loss provisions, data showed Tuesday. The combined net profit of KB Financial, S...
Online shopping rises 15% in Feb. amid pandemic

Apr 6, 2021

Online shopping in South Korea grew 15.2 percent on-year in February as more people bought products via e-commerce platforms amid the pandemic, data showed Tuesday. The value of online shopping tran...
Foreign IBs hike S. Korea's 2021 growth outlook to 3.8%

Apr 6, 2021

Major global investment banks (IBs) have again upgraded their outlook for South Korea's 2021 economic growth amid growing hopes of a recovery, a report showed Tuesday. As of end-March, nine major gl...
South Korea considering longer mortgage terms

Apr 5, 2021

Financial authorities to launch nation’s first 40-year mortgage, with 50-year option proposed