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S. Korea's imports of wine up 3.8 % in 2022
S. Korea mistakenly fires machine gun near border with N. Korea
N. Korea rejects alleged arms trading with Russia, warns of consequences
S. Korea's new COVID-19 cases fall below 20,000 ahead of lifting of indoor mask mandate
[New in Korean] Actor Kim Hye-ja's memoir explores 60-year career
[Herald Review] Musicals that are treats for the ears, feasts for the eyes
[Weekender] Tale of Daechi moms: Women who go all in for kids’ college dreams
Gangwon offers fun, exciting winter activities
[Korean Flavors] Onjium updates traditional dishes using seasonal ingredients
[Eye Plus] A to Z of making Hanbok
Opposition leader blasts 'dictatorial regime,' says won't answer questions during interrogation
TXT's new album sold 1.8m copies on 1st day, highest after BTS
Two Chinese warplanes entered KADIZ earlier this week: S. Korean military
S. Korea's new COVID-19 cases fall below 30,000
Prosecutors indict head of hotel adjoining site of Itaewon crowd crush
N. Korean leader's sister condemns US provision of tanks to Ukraine
Ministry blasted over rape law U-turn
[Today’s K-pop] NCT’s Haechan to resume activities from next week
Yoon may revisit law letting police handle espionage cases: ruling party
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[Photo News] IBK's new chairman
Jan 3, 2023
Industrial Bank of Korea Chairman Kim Sung-tae took office on Tuesday to lead the state-run bank after a recent approval from President Yoon Suk-yeol. A veteran insider, Kim has worked for IBK for over three decades since joining in 1989. At the inauguration ceremony held earlier in the day, the new chairman pledged to put his priority on supporting small- and medium-sized businesses.
S. Korea's power use hits new high in December on cold wave
Jan 3, 2023
South Korea's electricity consumption touched a record monthly high in December as the country was gripped by a nationwide cold wave and heavy snow, the power operator said Tuesday. The country's average maximum power consumption stood at 82,716 megawatts last month, up 5.1 percent from a year earlier, according to the Korea Power Exchange. It was higher than the previous monthly record of 82,0...
Aging population to slow down economy, central bank warns
Jan 2, 2023
The Bank of Korea warned Monday that the aging population could drive down the macroeconomic benefits of fiscal expenditure. According to the central bank's monthly research report, studies show that one percentage point in an increased aging population leads to a 5.9 percent drop in the fiscal growth of gross domestic product. The bank announced the figures based on overseas research which sho...
[Newsmaker] Chip supremacy gives South Korea more geopolitical freedom: lawmaker
Jan 2, 2023
'Half-baked' chips act needs revising, says Samsung executive-turned-lawmaker, calling it a big step back from her original proposal
Yoon orders finance ministry to consider bigger tax break for chip sector
Dec 30, 2022
President Yoon Suk-yeol on Friday ordered ministries to actively consider measures further expanding tax incentives for the semiconductor sector and other national strategic industries. Yoon requested the Ministry of Economy and Finance to come up with ways to further expand tax benefits for national strategic technologies such as semiconductors as they are "our security assets and core technolo...
Tax revenue up W50.2t bthrough November
Dec 30, 2022
South Korea's tax revenue grew 50.2 trillion won ($39.7 billion) in the first 11 months of 2022 from a year earlier, data showed Friday, on the back of improved corporate earnings. Tax revenue amounted to 373.6 trillion won in the January-November period, compared with 323.4 trillion won tallied the previous year, according to the Ministry of Economy and Finance. In November, the government col...
Consumer price growth hits 24-year high in 2022
Dec 30, 2022
South Korea's consumer prices grew at the fastest pace in more than two decades in 2022, government data showed Friday, as the country felt the pinch of soaring prices of raw materials and energy sources following the Russia-Ukraine war. Consumer prices rose 5.1 percent on-year in 2022, accelerating from a 2.5 percent gain in 2021, according to the data compiled by Statistics Korea. It marked t...
BOK's reserve management team expects dollar to bounce back amid recession woes
Dec 27, 2022
The US dollar's recent downward move will likely continue for the time being, but its value could bounce back next year when global recession woes arise, the foreign reserve management team of South Korea's central bank said Tuesday. The dollar has recently been under downward pressure after gaining marked ground against major currencies thanks to aggressive monetary tightening in the United Sta...
Korean companies suffer from weakening stability, fiscal health
Dec 26, 2022
Lowering profitability, growing debt coupled with rate hikes weigh down prospects for Korean businesses next year: KCCI
Customs agency allows imports of full-body sex dolls
Dec 26, 2022
South Korea's customs agency said Monday it has started permitting imports of full-body sex dolls, three years after the country's top court ruled they are not "obscene materials." The Korea Customs Service had been allowing imports of sex dolls that depict particular human body parts, but not life-size dolls, since July. The agency, however, said dolls depicting minors -- based on height, weig...
Jobs at public organizations to be reduced amid economic slump
Dec 26, 2022
South Korea plans to reduce some 4 percent of jobs at state-run organizations by 2025, the finance ministry said Monday, in line with efforts to tighten its belt amid the economic slump. Under the plan, the country will eliminate 17,230 jobs at public organizations, according to the Ministry of Economy and Finance. It marks the first job cut scheme for such institutions since 2009. A separate b...
BOK hints on interest rate hikes for 2023
Dec 23, 2022
The Bank of Korea put forward price stability as its major commitment for next year, hinting on further hikes of its key rate to fight ongoing inflation. The central bank released a report on its monetary policy for next year on Friday, suggesting forecasts on the economic outlooks in and out Korea. The bank said it will focus on price stability next year, so that consumer inflation will move to...
15 futuristic projects unveiled for next big leap
Dec 21, 2022
The government has drawn up new growth strategies to secure future technology such as aerospace and artificial intelligence and to accelerate digital transformation to help its sluggish economy leap forward. Through the "New Growth 4.0 Strategy" unveiled by economy-related ministries on Wednesday, the country seeks to secure forward-looking technology, digital transformation and further expandin...
Korea sets sight on real estate, financial reform to spur economy
Dec 21, 2022
Finance Ministry unveils growth outlook of 1.6%, lower than BOK, KDI estimates
[Newsmaker] 14 years a miser...to be a home owner in Seoul
Dec 21, 2022
An average wage earner in South Korea would have to save up one’s entire income for 14 years to buy a home in Seoul, a government study showed Wednesday. The price-to-income ratio -- the median home price divided by the median annual household income -- for Seoul in 2021 jumped to 14.1 from 12.5 in the year before, according to the 2021 Korea Housing Survey released by the Ministry of Land, Infr...
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Korea's pension to run out faster on population decline
9 out of 10 who passed Seoul teacher exam are women
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Ministry blasted over rape law U-turn
Opposition leader blasts 'dictatorial regime,' says won't answer questions during interrogation
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Seoul education superintendent convicted for unfair hiring
Prosecutors indict head of hotel adjoining site of Itaewon crowd crush
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Old, neighborhood bathhouses are an endangered breed
Two Chinese warplanes entered KADIZ earlier this week: S. Korean military
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Unification Ministry seeks to disclose more N. Korean information to public
[Weekender] Tale of Daechi moms: Women who go all in for kids’ college dreams
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