The Korea Herald

[News Focus] Korea facing significant household debt risks: OECD data

Jun 15, 2020

Household debt up W500tr since 2014
S. Korea to set up W300b fund for auto subcontractors

Jun 15, 2020

South Korea will set up a fund of 300 billion won ($248.6 million) to provide more liquidity to automobile subcontractors that have been hit by the coronavirus pandemic, a top financial regulator sai...
S. Korea to help companies win more overseas orders

Jun 15, 2020

SEJONG -- South Korea's finance minister said Monday the government will spare no efforts to help companies win overseas orders this year, as part of its efforts to revive economic growth amid the co...
New jobless people hits record high in May amid COVID-19 outbreak

Jun 14, 2020

The number of people who are in search of jobs hit a record high in May as the new coronavirus outbreak hammered the job market, data showed Sunday. The number of jobless people who had been seeking...
US energy, auto, services sectors face prolonged struggle in pandemic era: BOK

Jun 14, 2020

US-based firms in several sectors are likely to face a prolonged struggle due to the pandemic, and are even at the risk of producing more zombie firms, a report by South Korea’s central bank said Sun...
Korea's ICT exports down in May amid coronavirus pandemic

Jun 14, 2020

South Korean exports of information and communication technology (ICT) products fell for the second straight month in May, as the ongoing coronavirus pandemic affected demand for displays and mobile ...
BOK chief pledges to build economic resilience to counter pandemic

Jun 12, 2020

Governor says monetary easing policies are needed until economy heals
State agencies request 6% increase for 2021 budget

Jun 12, 2020

SEJONG -- South Korea's government ministries and state agencies have requested a 6 percent hike in their budgets for next year, as they want to spend more on welfare, research and development, the f...
S. Korea says downside risks to economy slightly recede

Jun 12, 2020

South Korea's finance ministry said Friday that downside risks to the nation's economy have slightly receded but warned that risks of global recession have weighed on an economic recovery. In a mont...
Vice finance minister sees 'relatively good' sign of recovery in exports

Jun 12, 2020

SEJONG -- South Korea's vice finance minister said Friday the nation's exports showed a "relatively good" sign of recovery in the first 10 days of this month, but warned of risks over a second wave o...
Finance minister warns against housing prices amid COVID-19 countermeasures

Jun 11, 2020

Government vows to stabilize overheated housing costs, regardless of pump-priming policy moves
[Economy in Pandemic] US Fed’s rate freeze to affect S. Korea’s monetary policy, stock market

Jun 11, 2020

The US Federal Reserve on Wednesday decided to keep its interest rates near zero, adding that it doesn’t expect to raise it until at least 2022, as the economy recovers from the repercussions of the ...
Korean economic policies for tackling COVID-19 impact explained in English

Jun 11, 2020

The Ministry of Economy and Finance said Thursday it has published an English-language version of a booklet explaining its countermeasures against the economic shock due to the COVID-19 pandemic for ...
Insurers' lending rises 1.6% in Q1

Jun 11, 2020

Loans extended by South Korean insurance companies rose 1.6 percent in the first quarter, but the loan default rate remained unchanged, the financial regulator said Thursday. Insurers' outstanding l...
S. Korea's exports outdo rivals but still face slump: BOK

Jun 11, 2020

South Korea's exports and imports will likely outperform those of major economies this year but face a slump due to sluggish demand in major economies caused by the new coronavirus pandemic, the coun...