The Korea Herald

[Newsmaker] BOK holds first press briefing via YouTube amid coronavirus fears

Feb 27, 2020

The Bank of Korea held a press conference on its rate decision via YouTube on Thursday, in a first for the central bank. The conference was held online as part of the central bank’s efforts to comba...
Moody's sees short-term coronavirus virus impact on S. Korean firms

Feb 27, 2020

Moody's Investors Service said Thursday it expects the spreading coronavirus outbreak to have a short-term impact on South Korean companies as the virus may be contained in the coming months. The ra...
Number of discouraged workers hits new high in 2019

Feb 27, 2020

SEJONG -- The number of discouraged workers in South Korea touched an all-time high in 2019, data showed Thursday, pointing to a tough employment situation amid an economic slowdown. Asia's fourth-l...
BOK cuts growth outlook to 2.1% on fallout from coronavirus

Feb 27, 2020

South Korea's central bank lowered its growth estimate for the year by 0.2 percentage point to 2.1 percent on Thursday as the fast-spreading coronavirus may have a far-reaching impact on Asia's fourt...
BOK stands pat amid looming virus fallout, again cuts growth outlook

Feb 27, 2020

South Korea's central bank on Thursday held its key policy rate steady, while slashing its growth outlook amid growing worries over the spreading coronavirus outbreak. The Bank of Korea left the bas...
S. Korea curbs exports of facial masks amid soaring virus cases

Feb 26, 2020

South Korea on Wednesday started to regulate the country's exports of facial masks as demand for sanitary products has been running high here amid the spread of the new coronavirus. Under the measur...
Korean manufacturers' sentiment worsens for March

Feb 26, 2020

The business sentiment of South Korean manufacturers sharply deteriorated for the upcoming month, central bank data showed Wednesday, amid growing concerns that the fast-spreading coronavirus outbrea...
Market eyes fixed on BOK’s imminent growth rate adjustment

Feb 25, 2020

Anxiety is mounting that South Korea, reeling under the prolonged impact of the fast-spreading novel coronavirus, may have no choice but to lower its already modest growth prospects for 2020. While ...
Seoul allocates W380b to support agricultural exports amid virus spread

Feb 25, 2020

South Korea said Tuesday it will spend 380 billion won ($311 million) to support local exporters of agricultural goods amid fears the global spread of the new coronavirus will deal a heavy blow to sa...
S. Korea's power generation drops 1.5% in 2019

Feb 25, 2020

South Korea's electricity generation fell for the first time in more than two decades in 2019 amid an economic slowdown and favorable weather conditions, data showed Tuesday. The amount of electrici...
S. Korea to take ‘special actions’ to counter COVID-19 impact on economy

Feb 24, 2020

The government said Monday it would soon announce “special actions” to deal with the economic impact of the coronavirus outbreak, defining the current situation as an “economic emergency.” It added ...
Special unit launched to probe illegal real estate brokers

Feb 24, 2020

South Korea’s Ministry of Land, Infrastructure and Transport said Monday that it has launched a squad with investigative powers to effectively crack down on illegal or unfair practices in the real es...
Korean economy tipped to grow below 2% on virus

Feb 24, 2020

Major foreign investment banks (IBs) and economic institutes have forecast South Korea's economic growth to be below 2 percent in 2020 due to the fallout of the fast-spreading novel coronavirus. Acc...
Deepening COVID-19 crisis triggers rate cut speculations

Feb 23, 2020

Some observers cite rate cut as inevitable action amid economic fallout
Korea's exports up 12.4% in first 20 days of February

Feb 21, 2020

South Korea's exports moved up 12.4 percent in the first 20 days of February, customs data showed Friday, led mostly by chips and auto parts. The country's outbound shipments reached $26.3 billion i...