The Korea Herald

S. Korea’s economy to contract this year amid COVID-19 impact: BOK

EconomyMay 28, 2020

South Korea’s central bank on Thursday slashed the country’s economic growth outlook for this year, forecasting a 0.2 percent on-year contraction amid the persisting COVID-19 pandemic. It also cut t...
S. Korea, US sign a $60b currency swap deal

EconomyMar 19, 2020

The Bank of Korea and the US Federal Reserve Board on Thursday signed bilateral currency swap arrangements totaling at $60 billion, to be effective for the next six months, South Korea's central bank...
BOK slashes rate to record low 0.75%, after emergency Fed move

EconomyMar 16, 2020

On Friday, BOK Gov. Lee Ju-yeol attended an economic policy meeting chaired by President Moon Jae-in, along with other key economic-related ministers including Finance Minister Hong Nam-ki and Financ...
[COVID-19 Market Impact] South Korea's economic rebound loses heat

EconomyMar 12, 2020

After struggling with a record-low growth pace last year, South Korea’s economy was aspiring to make a rebound in 2020, hopefully on the back of global trade improvements and a chip industry recovery...
Fiscal chief seeks to boost spending amid COVID-19 fallout

MoneyFeb 19, 2020

Responding to public anxiety over prolonged fallout of the novel coronavirus, the government distinctly turned to all-out countermeasures, marking a turn from its early optimism. But its policy dire...
[Advertising Awards] Switching to the age of personal advertising media

IndustryOct 29, 2019

We are now facing the biggest turn in history. What we are confronting is a fundamental change, in which everything we thought was true over the past 100 years is on the verge of collapse. The advert...
BOK slashes key rate to record-low 1.25%

EconomyOct 16, 2019

South Korea’s central bank on Wednesday cut the country’s key interest rate to 1.25 percent, reflecting the sluggish economic growth, low inflation and declining exports. Its second rate cut in thre...
S. Korea to insert W2tr to industries next year amid trade woes

EconomyAug 26, 2019

South Korea’s government said Monday that it will insert more than 2 trillion won ($1.64 billion) of the budget next year to help local industries respond to Japan’s economic retaliations and consequ...
[Photo News] Heading for Myanmar

MarketsMay 2, 2019
BOK issues catalogue on currency history

MarketsJan 20, 2019

The central bank has issued a new art catalogue, offering a periodic introduction to South Korea’s currency, officials said Sunday. The Bank of Korea’s Money Museum has published “Korea’s Money,” a ...
Credit card companies may use mobile messengers for payment notices

IndustryDec 13, 2018

Credit card companies will be able to send payment notices to customers via mobile messengers, a change that may save up to 3 billion won ($2.7 million) a year, officials said Thursday. The Credit F...
[Global Finance Awards] Woori Bank CEO all set for ‘financial holding group’ era

MarketsNov 28, 2018

When Sohn Tae-seung took office as Woori Bank CEO in December last year, his leadership had seemed to face multiple hurdles ahead, ranging from prolonged recruitment irregularities that led to the re...
SMEs hire fewer foreign workers, cite heavier burdens: poll

EconomyNov 25, 2018

South Korea’s small and medium-sized enterprises are finding it increasingly difficult to hire foreign workers amid rising minimum wages and a prolonged economic downturn, a survey by a local busines...
BOK chief calls for resilience against external risks

EconomyNov 19, 2018

South Korea’s central bank chief on Monday urged Asia-Pacific economies to reinforce their resilience against potential external risk factors amid a fluctuating global financial environment. “We mus...
S. Korea’s corporate earnings steady despite slowing economy: Moody’s

EconomyNov 13, 2018

South Korea’s economic growth will slow down in the upcoming years, weighed down by the global slowdown amid weak demand and ongoing trade conflicts, according to Moody’s Investors Service on Tuesday...