The Korea Herald

Home transactions tumble 24.5% in Feb.

Mar 26, 2021

Home transactions in South Korea sank nearly 25 percent in February amid government measures to rein in rising prices, data showed Friday. The number of homes changing hands nationwide stood at 87,0...
Over 80% of extra budget-funded relief aid to be offered by May

Mar 26, 2021

South Korea plans to provide more than 80 percent of another extra budget-funded relief aid to pandemic-hit smaller merchants by May, a senior government official said Friday. The National Assembly ...
S. Korea to ease inflation pressure amid rising raw material prices

Mar 26, 2021

South Korea will step up efforts to ease growing inflationary pressure as hikes in global grain prices have jacked up prices of processed products, a senior government official said Friday. Vice Fir...
S. Korea to unveil measures to stem property speculation by civil servants

Mar 26, 2021

South Korea plans to unveil a set of measures next week to root out property speculation by public officials amid a mounting public outcry over a land speculation scandal by public officials, the fin...
Consumer sentiment gains for 3rd month in March

Mar 26, 2021

South Korea's consumer sentiment rose for a third consecutive month in March, as exports showed signs of a modest recovery amid the COVID-19 vaccine rollout, central bank data showed Friday. The com...
IMF sharply ups 2021 growth outlook for S. Korea to 3.6%

Mar 26, 2021

The International Monetary Fund (IMF) on Friday sharply raised its growth outlook for South Korea this year, citing robust exports and the country's fiscal policy support amid the pandemic. The IMF ...
[News Focus] Household debt risks mount as banks halt interest discounts

Mar 25, 2021

The debt held by the household sector surged by 18.9 percent in only three years from 1,450.6 trillion won in December 2017 -- or by 59 percent from 1,085.2 trillion won in December 2014 and 88.4 per...
Construction contracts surge 18.7% in Q4

Mar 25, 2021

SEJONG -- The value of construction contracts in South Korea jumped nearly 19 percent in the fourth quarter of 2020 thanks to increased private and public projects, government data showed Thursday. ...
BOK to extend financial support for pandemic-hit small merchants, SMEs

Mar 25, 2021

South Korea's central bank said Thursday it will extend financial support for smaller merchants and firms by six months to help them ease a funding squeeze amid the COVID-19 pandemic. The financial ...
BOK chief pens rosier forecasts for economy, downplays inflation

Mar 24, 2021

South Korea’s central bank chief said Wednesday that the nation’s economy could be expected to see a faster recovery from COVID-19 woes than anticipated in the bank’s previous forecast of 3 percent, ...
Tax agency launches probes into offshore tax evasion

Mar 24, 2021

South Korea’s tax agency said Wednesday that it has launched probes into 54 offshore tax evaders who enjoyed social benefits from the country without paying taxes here. The National Tax Service disc...
Insurers' profit up 13.9% in 2020 amid pandemic

Mar 24, 2021

The combined net profit of insurance firms in South Korea rose 13.9 percent on-year in 2020, due partly to fewer car accidents as people stayed home amid the coronavirus pandemic, data showed Wednesd...
Population mobility falls at sharpest clip in 6 years in Feb.

Mar 24, 2021

The number of South Koreans who moved to different residences in the country declined at the sharpest pace in six years in February amid a housing supply shortage, data showed Wednesday. The number ...
Instant noodle makers see 2020 sales jump amid pandemic

Mar 24, 2021

Sales of South Korea's top instant noodle makers posted strong sales in 2020 thanks to brisk demand amid the coronavirus pandemic, data showed Wednesday. Nongshim Co. said its sales of instant noodl...
BOK chief sees faster-than-expected economic recovery in 2021

Mar 24, 2021

South Korea's economy is expected to recover from the COVID-19 pandemic at a faster pace than expected this year as the US economic recovery gathers steam, the head of the Bank of Korea (BOK) said We...