The Korea Herald

[Newsmaker] S. Korea proposes record W604tr budget for 2022 amid pandemic

Aug 31, 2021

South Korea on Tuesday proposed a record high budget of 604.4 trillion won ($519 billion) for next year as it plans to maintain expansionary fiscal spending to cement the economic recovery and narrow...
S. Korea wary of potential market volatility from Fed's tapering issue: official

Aug 31, 2021

Talks about the Federal Reserve's tapering of asset purchases have had limited impacts on South Korea's financial market, but the country will monitor the situation with "extra" vigilance, a senior g...
Home transactions sink 37% in July

Aug 31, 2021

Home transactions in South Korea tumbled 37 percent in July amid government efforts to rein in soaring housing prices, government data showed Tuesday. The number of homes changing hands nationwide s...
Industrial output down in July amid toughened virus curbs

Aug 31, 2021

South Korea's industrial output decreased in July from the previous month in the latest sign that the country's economic recovery momentum slowed amid the fourth wave of the pandemic, data showed Tue...
State spending on strategic industries to surge 43% next year

Aug 30, 2021

South Korea will ramp up spending on the next-generation automobile, chip and bio-health sectors next year in an effort to nurture homegrown companies into leading players in the global market, the f...
Every South Korean to face W100m of national debt in 2038: study

Aug 30, 2021

South Korea’s national debt per person is expected to grow at a fast clip to reach 100 million won ($85,800) in 2038 as a result of government’s expansionary spending to keep its economic growth in l...
S. Korea's combined area of rice paddies up 0.8% in 2021

Aug 30, 2021

South Korea's combined area of rice paddies moved up 0.8 percent on-year in 2021, data showed Monday, with the country expected to maintain a stable supply of the staple grain despite heavy rains. T...
Overseas card spending jumps 80 pct in Q2 as lockdown eases

Aug 30, 2021

South Koreans' overseas card spending jumped 80 percent on-year in the second quarter as many nations eased lockdown rules following the COVID-19 pandemic, central bank data showed Monday. The amoun...
S. Korea kicks off 7th round of free trade talks with Mercosur

Aug 30, 2021

South Korea said Monday it has launched a new round of negotiations to clinch a free trade agreement with Mercosur, South America's leading trading bloc, as it aims to further expand its export portf...
S. Korea to dole out cash handouts to ordinary people next week

Aug 30, 2021

South Korea said Monday it will begin providing emergency relief funds to people in the bottom 88 percent income bracket next week in the latest move to help them cope with the fallout from the pande...
S. Korean firms faced with 'triple whammy': survey

Aug 30, 2021

South Korean firms are suffering from the triple whammy of rising raw material costs, a coronavirus resurgence and an interest rate hike, a poll showed Monday. The survey of 310 large and smaller co...
Does central bank’s rate hike signal end to ‘bittoo’ era?

Aug 29, 2021

Household lending surges at last minute over BOK’s rate hike, stricter lending rules
[Newsmaker] Opposition lawmakers warn of conflict of interest involving FSC nominee

Aug 29, 2021

Despite the Parliament’s approval of the nomination of the Financial Services Commission’s new chairman on Friday, concerns remain over his familial ties with the chairman of Korea Investment Holding...
[Law Talk] Unexposed risks of the Serious Accidents Punishment Act: Business owners facing liability beyond the workplace

Aug 29, 2021

Amid recurring industrial accidents such as the 2018 Taean Power Plant tragedy, the 2020 Icheon fire incident, and the death of a worker at Pyeongtaek Port in April, social interest regarding the nee...
Industrial accidents cause economic losses of W30tr in 2020: data

Aug 29, 2021

Industrial accidents at workplaces caused an estimated loss of nearly 30 trillion won ($25.6 billion) last year, data showed Sunday, with the country seeking to impose heavy punishment on employers i...