The Korea Herald

[News Focus] Most age groups skeptical on economy

Mar 30, 2021

Pessimists outnumber optimists for 34 consecutive months
Lending rate cap to be lowered to 20% from July

Mar 30, 2021

South Korea’s maximum legal interest rate that private lenders can charge customers will be lowered to 20 percent per annum from July, the nation’s top financial regulator said Tuesday. A revised en...
Savings banks' profit rises 10% in 2020 on interest income

Mar 30, 2021

South Korean savings banks reported 10 percent growth in their combined net profit for 2020, thanks to a modest rise in interest income, data showed Tuesday. The combined net income of the 79 saving...
Rice production costs up 6.5% last year

Mar 30, 2021

Rice production costs in South Korea rose 6.5 percent last year as rice output fell due to a record-long rainy season and typhoons, data showed Tuesday. Farmers spent 31,082 won ($27) to produce 20 ...
Banks' lending rates edge up in February

Mar 30, 2021

South Korean banks' lending rates inched up in February amid a slight decline in deposit rates, central bank data showed Tuesday. The average interest rate charged on new bank loans came to 2.74 per...
S. Korea aims to cement recovery, curb debt growth in 2022 budget

Mar 30, 2021

South Korea said Tuesday it plans to maintain an expansionary fiscal policy next year to underpin an economic recovery from the pandemic, but it will also seek to enhance fiscal soundness amid mounti...
S. Korea to increase tax incentives W3tr this year amid pandemic

Mar 30, 2021

Tax exemptions and incentives are expected to rise almost 3 trillion won ($2.6 billion) on-year this year as the country seeks to help vulnerable people cope with the fallout of the pandemic. The va...
[News Analysis] S. Korea’s longest serving finance minister burdened with recovery, real estate tasks

Mar 29, 2021

Finance Minister Hong Nam-ki is set to become the longest serving fiscal chief in South Korean history, but his leadership is facing public pressure for the revival of an economy battered by the COVI...
Card firms 2020 net rises 23.1% amid pandemic

Mar 29, 2021

South Korea's credit card firms saw their combined earnings rise 23.1 in 2020, helped by higher income from loans amid the COVID-19 pandemic, the financial regulator said Monday. The combined net pr...
Korean shippers, shipbuilders sailing well amid Suez blockage

Mar 29, 2021

Shares in South Korea's shipbuilders and shippers have enjoyed decent increases in the past weeks, but this time, they are again on a rising track on expectations for a further climb in freight rates...
Biz sentiment down for April on uncertainties: poll

Mar 29, 2021

South Korea's business sentiment slightly fell for April on increased uncertainties in the electronics and auto manufacturing industries, a local think tank said Monday. The business survey index (B...
S. Korea's exports predicted to rise 18.3% in March: poll

Mar 29, 2021

South Korea's exports are expected to rise 18.3 percent in March from a year earlier to extend the gains for the fifth consecutive month, led by strong demand for chips and automobiles, a poll showed...
Corporate direct financing jumps 29% in February

Mar 29, 2021

South Korea's corporate direct financing jumped 29 percent in February from the previous month due to a modest rise in bond sales, data showed Monday. Local companies raised a combined 19.9 trillion...
5 window producers fined for exaggerated advertising

Mar 28, 2021

South Korea's antitrust regulator said Sunday it has decided to fine five manufacturers of windows a combined 1.28 billion won ($1.13 million) for exaggerated advertising. LG Hausys and its four riv...
NPS delays decision on domestic stock ratio

Mar 26, 2021

South Korea‘s public pension fund, the National Pension Service, delayed a decision on whether or not to increase the proportion of domestic stock holdings, amid mounting criticism over the fund’s se...