The Korea Herald

BOK chief vows soft monetary policy to bolster virus-hit economy

Oct 16, 2020

The Bank of Korea (BOK) will maintain a soft monetary policy to bolster the recovery of the South Korean economy hit by the coronavirus pandemic, the top central banker said Friday. "The BOK will ke...
Economic recovery shows signs of delay over virus resurgence: finance ministry

Oct 16, 2020

SEJONG -- Economic recovery has shown signs of delay due to a resurgence in new coronavirus infections in mid-August, but the pace of decline in exports eased, the finance ministry said Friday. In a...
Job losses extend into Sept. amid pandemic, unemployment rate rises to 3.6%

Oct 16, 2020

SEJONG-- South Korea lost about 392,000 jobs in September, marking a decline in the number of the employed for the seventh consecutive month, as the coronavirus pandemic hammered job markets, data sh...
Economic powder keg remains despite Korea's virus containment: S&P

Oct 15, 2020

Despite the containment of the coronavirus pandemic nationwide, South Korea, Asia’s fourth-largest economy, is still sitting on an economic powder keg, high-ranking officials of credit rating agency ...
[News Focus] Seoul housing prices climb 18% in a year

Oct 15, 2020

62% surge reported in Sejong, 21% in Gyeonggi
S. Korean economy to perform well over next 2 years, but still in deep recession: S&P

Oct 15, 2020

The South Korean economy is expected to fare better than other countries over the next two years, but it will be in a deep recession amid the coronavirus pandemic, an economist at ratings agency S&P ...
Banks' loan delinquency rate edges up in Aug.

Oct 15, 2020

The delinquency rate for South Korean banks' won-denominated loans inched higher in August from the prior month but remained stable, the financial watchdog said Thursday. The rate for bank loans mor...
No. of elderly people to reach 30% of population in 2035

Oct 15, 2020

SEJONG -- The number of people aged 65 or older in South Korea is expected to account for 30 percent of the population in 2035, a report showed Thursday, highlighting concerns that the fast-aging dem...
S. Korea's money supply continues to grow fast in Aug.

Oct 15, 2020

South Korea's money supply continued to grow at a fast clip in August as household and corporate lending grew amid a long streak of low rates and the new coronavirus pandemic, central bank data showe...
Foreigners extend net sale of S. Korean securities funds for 2nd month in Sept.

Oct 15, 2020

Foreign investors extended a net sale of South Korean securities funds for the second straight month in September, led by an expansion in net offloading of stock funds, the central bank said Thursday...
ICT exports rise for 4th straight month on chips and displays in Sept.

Oct 15, 2020

South Korea's outbound shipments of information and communication technology (ICT) products rose 11.9 percent on-year in September, data showed Thursday, as global demand for semiconductors picked up...
S. Korea says G-20 debt relief to help poor nations achieve economic recovery

Oct 15, 2020

SEJONG -- An extension of debt relief programs by the Group of 20 major economies will help low-income nations achieve their economic recovery from the coronavirus pandemic, South Korea's finance min...
Virus-hit S. Korean exporters pining hopes on ASEAN, China: poll

Oct 15, 2020

Nearly half of South Korean exporting companies expect Southeast Asian and Chinese markets to spearhead a recovery in their exports down the road, a poll showed Thursday. According to the survey of ...
S. Korea to lower market threshold for newlyweds, first-time homebuyers

Oct 14, 2020

Up to 92% of first-time buyers will be eligible for preferential housing applications
Korean Air extends paid leave until December on pandemic

Oct 14, 2020

Korean Air Lines Co., South Korea's biggest carrier, said Wednesday it will have 70 percent of its employees go on unpaid leave until December due to the prolonged coronavirus impact on the airline i...