The Korea Herald

S. Korean parliament likely to pass largest-ever extra budget in history

EconomyJul 3, 2020

S. Korean lawmakers on Friday are set to pass a bill for the third extra budget of up to 35.3 trillion won ($29.5 billion) in the afternoon, marking the passage of the largest-ever supplementary budg...
S. Korea’s forex reserves hit record-high of $410.75b

EconomyJul 3, 2020

South Korea’s foreign exchange reserves hit a fresh record high of $410.75 billion last month, having gained $3.44 billion on-month due to a weak dollar trend, the nation’s central bank said Friday. ...
S. Korea to expand IP financial investment market to W1.3tr by 2024

EconomyJul 2, 2020

South Korea aims to foster its intellectual property financial investment market to 1.3 trillion won ($1.08 billion) by 2024 to help firms deal with liquidity issues triggered by the coronavirus pand...
S. Korea’s coincident index plummets to lowest in 21 years

EconomyJun 30, 2020

South Korea’s coincident index -- that summarizes current economic conditions -- plunged to the lowest level in 21 years in May amid the COVID-19 pandemic, data from Statistics Korea showed Tuesday. ...
Changes in economic structures may dent growth in post-virus era: BOK

EconomyJun 29, 2020

South Korea is expected to see an accelerated slowdown of its potential economic growth rate, with domestic and global economic structures facing radical transformation in the post-coronavirus era, t...
NH Prime REIT to invest in NY’s 195 Broadway, Paris’ Tour Eqho

MoneyJun 28, 2020

NH Prime REIT said Sunday it has decided to invest in landmark buildings in New York, Paris and Helsinki to expand its portfolio. South Korean banking group NH Financial’s real estate investment tru...
S. Korea’s inflation to remain subdued for 2020, post-coronavirus era: BOK

EconomyJun 25, 2020

South Korea’s consumer price inflation is projected to remain at around zero percent for the remainder of the year, the nation’s central bank said Thursday, citing pandemic risks dampening hopes for ...
[Banks of Future] S. Korean banks transforming for ‘untact’ era

MoneyJun 24, 2020

South Korean banks are going through their biggest transformation since the postwar era in the face of rising online banks and the fast-changing consumer trend favoring non-contact services. With th...
BOK, Kakao Enterprise sign AI technology development deal

EconomyJun 23, 2020

South Korea’s central bank said Tuesday that it had signed a memorandum of understanding with Kakao’s artificial intelligence solutions subsidiary and will adopt the technology for its business and p...
[Banks of Future] With online banks rising, financial giants gear up for digital transformation

MoneyJun 22, 2020

The prolonged COVID-19 pandemic has taken its toll on domestic banks this year, with lower interest rate margins and enhanced loan regulations. The key challenge, however, is not the tangible loss s...
[News Focus] N. Korea’s liaison office demolition dampens cross-border projects of banks

MoneyJun 21, 2020

Most North Koreans seek private lenders for loans -- as the Central Bank of the Democratic People’s Republic of Korea doesn’t provide such services -- and lending rates stood at 10 percent, while mor...
S. Korea’s overseas direct investment falls 15% in Q1

EconomyJun 19, 2020

South Korea’s overseas direct investment fell 15.3 percent on-year in the first three months of the year, weighed on by the coronavirus pandemic, with investments to China and Hong Kong having fallen...
S. Korea rolls out stricter regulations to cool heated housing market

EconomyJun 17, 2020

The named areas have been deemed “beneficiaries” of state-run infrastructure development projects -- some already underway and others still in the planning stages -- that have contributed to massive ...
S. Korea’s global competitiveness ranking climbs 5 spots to 23rd

EconomyJun 16, 2020

South Korea’s global competitiveness ranking climbed five spots this year, buoyed by improvement in government, business and infrastructure efficiencies amid the coronavirus pandemic, according to an...
S. Korea, Cambodia to launch free trade talks in July

EconomyJun 15, 2020

South Korea is seeking to launch negotiations for a bilateral free trade agreement with Cambodia next month, hoping to increase its economic influence in Southeast Asia, according to top officials Mo...