Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Medical reform committee kicks off despite boycott from doctors
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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Monthly users on local streaming platforms outpace Netflix, Disney+
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Seoul to promote luxurious side of the city
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[New Economic Non-Order: 4] APEC becomes battleground for US, China
The Korea Herald is publishing a series of articles to look into the weakening of the global economic framework in light of fading liberalism and the rise of trade protectionism and nationalism. This is the fourth installment. -- Ed.After last year’s Asia-Pacific Economic Cooperation summit, the headlines announced a first in the forum’s 25-year history: Its 21 members had failed to reach a consensus on a joint communique, one repercussion from the ongoing US-China trade war. In rece
Oct. 9, 2019
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BOK chief says economic slump may last but depends on US-China dispute
The ongoing slump facing South Korea and the rest of the world is widely expected to continue for some time, but the duration and degree of its impact will largely depend on how the trade conflict between the world's two largest economies will end, the chief of South Korea's central bank said Tuesday."The growth of the global economy is slowing down," Bank of Korea Gov. Lee Ju-yeol told the parliamentary finance committee at the start of its annual audit. "Such a slowdown is expec
Oct. 8, 2019
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More than 1 in 10 S. Korean companies remain marginal in 2018: BOK
The number of companies unable to service their debts with earnings rose from a year earlier in 2018, posing a threat to the country's financial and economic stability, central bank data showed Tuesday.According to a report submitted by the Bank of Korea for parliamentary audit, the number of the so-called marginal companies came to 3,236 last year, up from 3,112 a year earlier.The number represents 14.2 percent of 22,869 companies here that are subject to external audit. Marginal firms refer to
Oct. 8, 2019
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Korea's current account surplus narrows in Aug.
South Korea's current account remained in the black for the fourth consecutive month in August, but its surplus narrowed sharply from a year earlier amid a steady decline in exports, central bank data showed Tuesday.The country's current account surplus came to $5.27 billion in the month, compared with a $8.55 billion surplus in the same month last year and a $6.95 billion surplus a month earlier, according to preliminary data from the Bank of Korea.The goods account surplus has been more than h
Oct. 8, 2019
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Prices of apartments in redeveloped Seoul areas soar 53% in 4 years
The average sale price of real estate in redeveloped apartment complexes in Seoul has soared more than 50 percent over the past four years, data showed Monday.According to data submitted by the state-run Korea Housing & Urban Guarantee Corporation to the parliamentary land committee, the average sale price per pyeong for reconstructed apartments stood at 31.5 million won ($26,345) as of this year. A pyeong is a unit of area used in real estate measuring, equivalent to 3.3 square meters. This
Oct. 7, 2019
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[Monitor] Rosy prospects for Samsung Electronics’ Q3 earnings
South Korea’s tech giant Samsung Electronics is expected to see its third quarter earnings come in well over market consensus, according to forecast by Korea Investment & Securities. Next year’s operating profit will be even greater, the securities firm predicted in its report.The revenue of Samsung in the latest quarter will be around 65.8 trillion won and its operating profit sime 7.4 trillion, each exceeding earlier predictions by 5 percent and 9 percent, respectively, the rep
Oct. 6, 2019
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[News Focus] Portion of optimists over economy stays at 13%: poll
SEJONG -- A variety of polls show that the public disapproval rating for President Moon Jae-in now outstrips his approval rating.According to a survey from Gallup Korea, the portion of respondents who expressed negative opinion toward the president, exceeded the supporters for him for the sixth consecutive week since August.In the pollster’s latest survey, conducted on Oct. 1-2, 51 percent of the 1,000 citizens polled expressed disapproval of Moon’s performance, while the approval ra
Oct. 6, 2019
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S. Korea sees steepest drop in exports among key economies
South Korea marked the steepest drop in export volume so far this year among the world’s top 10 exporters, data showed.Korea’s export slowdown was especially noticeable in July, due partly to the slowdown in overall world trade volume and the drop in prices of semiconductors and petroleum products. Exports to China, in particular, dropped significantly by 16.6 percent from the previous month. The month coincides with when Japan started to impose export curbs on key materials cr
Oct. 6, 2019
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China-Taiwan dispute may further undermine S. Korean exports: report
China's political dispute with Taiwan may add to regional risks created by protest rallies in Hong Kong that could further undermine South Korea's exports to its neighbors, a central bank report suggested Sunday.South Korean exports have dipped for 10 consecutive months since December amid the prolonged trade dispute between the United States and China, the world's largest importers of South Korean goods."Considering the country's close financial and trade relations with the countries, a ch
Oct. 6, 2019
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Seniors main income earners for poorest households: data
Seniors are the chief breadwinners for South Korea's poorest households, with such family units generally having less than one member holding a steady job, data showed Saturday.According to the data from Statistics Korea, the average age of the chief breadwinners for households making up the bottom 20 percent of the income tier stood at 63.8 years between 2003 and 2019. Asia's fourth-largest economy became an aged society -- one in which 14 percent of the population is over 65 -- in 2017,
Oct. 5, 2019
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S. Korea's economic fundamentals remain solid: Moody's
A senior official of global rating agency Moody's Investors Service has said that the overall fundamentals of the South Korean economy are solid, the finance ministry said Friday.Moody's managing director of sovereign risk, Yves Lemay, made the comment in a meeting with South Korea's Vice Finance Minister Kim Yong-beom in London after Kim asked Moody's to take into account South Korea's policies in evaluating its rating on Seoul. Lemay said geopolitical risks constrained South Korea's rating, th
Oct. 4, 2019
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Finance Ministry hits back at Bloomberg in defense of ‘J-nomics’
The Ministry of Economy and Finance has disputed a Bloomberg column that accused the Moon Jae-in administration’s inclusive growth policies as “socialist,” officials said Wednesday.Bloomberg on Monday posted a letter to the editor, written by Seoul’s First Vice Minister Kim Yong-beom in response to an earlier column titled “What’s worse than corrupt billionaires? Socialism.”The original column by Shuli Ren, an opinion columnist covering Asian markets, ap
Oct. 2, 2019
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S. Korea likely to miss growth target: finance minister
South Korea is unlikely to achieve its growth target this year, the finance minister said Wednesday, as exports slowed amid trade tensions with Japan and an ongoing trade conflict between the United States and China.When asked by a lawmaker whether South Korea can pull off its 2.4 percent or 2.5 percent growth target, Hong Nam-ki said in a parliamentary audit that "it appears difficult to achieve it."It is not the first time that Hong voiced skepticism about South Korea's economic grow
Oct. 2, 2019
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Online shopping hits record high in August
The total value of goods purchased via online shopping in South Korea hit a record high in August, government data showed Wednesday, in the latest sign that a growing number of people are using computers and mobile devices to buy things, ranging from clothes to electronic goods.The total value of online transactions reached 11.25 trillion won ($9.3 billion) in August, the highest level since Statistics Korea started collecting data on online shopping in January 2001. From a year earlier, the val
Oct. 2, 2019
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S&P cuts S. Korea's growth outlook to 1.8% this year
Global rating agency Standard & Poor's said Tuesday that it slashed its growth forecast for South Korea's economy this year to 1.8 percent amid the global economic slowdown.The latest estimate represented a downward revision from its previous 2 percent forecast in July. S&P said that the South Korean economy could grow 2.1 percent in 2020, also down from its previous forecast of 2.6 percent. The rating agency said eroding confidence in the outlook is intensifying the investment-led
Oct. 1, 2019
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S. Korea sees first negative inflation in September, denies deflation
South Korea saw its inflation drop for the first time in September due to weakened demand and decreased prices of agricultural and petroleum products, government data showed Tuesday.Though the latest figures rekindled concerns on long-term deflation and speculations on an imminent rate cut, policymakers argued that recent fluctuations were only temporary. Consumer prices slipped 0.4 percent in September from a year earlier, marking the first on-year decrease in inflation since the related data w
Oct. 1, 2019
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S. Korea logs first drop in inflation in September
South Korea's headline inflation dropped for the first time in September due to declines in prices of agricultural products and stabilizing petroleum prices, the statistics agency said Tuesday.South Korea's consumer prices fell 0.4 percent in September from a year earlier, marking the first on-year drop in inflation since Statistics Korea began compiling related data in 1965. The statistics agency said the record low consumer prices are blamed on a fall in prices of agricultural products, stabil
Oct. 1, 2019
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Korea's exports down for 10th month on trade rows, chips
South Korea's exports sank 11.7 percent in September from a year earlier, extending their slump to a 10th consecutive month, data showed Tuesday, hurt by still weak prices of semiconductors and the yearlong trade row between the United States and China. Outbound shipments reached $44.7 billion last month, compared with the $50.6 billion tallied a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.Imports fell 5.6 percent on-year last month to $38.7 billion
Oct. 1, 2019
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S. Korea sees key industrial indexes rise in August
South Korea saw its production, consumption and investment rise last month, on the back of the launch of Samsung’s flagship smartphones and increased imports of semiconductor manufacturing equipment, government data showed Monday.This marked the first time in five months that all three industrial indexes climbed simultaneously but also came amid stalled exports and mounting external uncertainties.According to monthly industrial figures compiled by Statistics Korea, the industrial productio
Sept. 30, 2019
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Industrial output up for 2nd consecutive month in August
South Korea's industrial output advanced for the second straight month last month on the back of a rise in the service sector, government data showed Monday.The data compiled by Statistics Korea showed the country's overall industrial output rose 0.5 percent in August from a month earlier.Production in the mining, manufacturing, gas and electricity industries fell 1.4 percent last month from a month earlier due mainly to decreased output in cars. Meanwhile, the output of the service sector incre
Sept. 30, 2019