Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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Korea to walk a tightrope in US-China trade row
Negotiations with China and Japan on a trilateral free trade agreement could provide Korea with a framework instrumental in coping with rising global protectionism, experts say.Intensifying trade conflicts between the US and China might get Beijing to be more positive on reaching the three-way accord, which would create the world’s third-largest trade bloc after the North American Free Trade Agreement and the EU.The three Northeast Asian countries combined accounted for 23.3 percent of glo
March 26, 2018
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Govt. to focus on boosting job creation, low birth rate in mapping out 2019 budget
The government's fiscal policy for next year will be centered on boosting job creation and innovative growth, while at the same time tackling South Korea's low birthrate trend and aging society, the finance ministry said Monday.The 2019 budget guidelines, which were approved by the Cabinet, are also aimed at improving fiscal efficiency and allocating government funds to pressing issues, according to the Ministry of Strategy and Finance.The finance ministry said it will expand government spending
March 26, 2018
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S. Korea's economy contracted 0.2% in Q4: Moody's
The South Korean economy likely contracted in the final three months of last year due largely to a slowdown in exports and construction investment, a leading provider of economic analysis said Sunday.In an earlier prediction, the Bank of Korea said Asia's fourth-largest economy probably grew 3.1 percent in 2017 on the back of robust exports amid a global economic recovery, compared to a 2.8 percent growth in the previous year.For the final quarter of last year, however, the economy shrank 0.2 pe
March 25, 2018
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Loss-making public institutions post 10 tln won deficit
South Korea's loss-making public institutions posted a combined deficit of nearly 10 trillion won ($9.3 billion) over the past five years, due mainly to unprofitable overseas energy-development projects, a parliamentary report showed Saturday. According to the report by the National Assembly Budget Office, 13 firms, including the Korea National Oil Corp, the Korea Coal Corp., and the Korea International Broadcasting Foundation, were in the red between 2012 and 2016.Their combined losses reached
March 24, 2018
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Trump: 'Very close' to trade deal with S. Korea
US President Donald Trump said Friday that the US is "very close" to resolving a trade row with South Korea, hinting at an announcement next week.The president was apparently referring to the renegotiation of the Korea-US free trade agreement as well as Seoul's push to win an exemption from US tariffs on steel imports."The deal with South Korea is -- according to Secretary Ross and Bob Lighthizer -- is very close to being finished," he said during a news conference at the Whi
March 24, 2018
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Korea, China, Japan hold new trade talks amid rising protectionism
South Korea, China and Japan held a new round of trade talks on Friday in Seoul in the latest push to work out differences for a free trade deal amid rising trade protectionism.Trade officials will discuss modalities for tariff reduction, service market liberalization and other global trade issues, the Ministry of Trade, Industry and Energy said."South Korea, China and Japan need to show a firm will to advocate free trade amid intensifying trade tension in light of the protectionist policie
March 23, 2018
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Korean steelmakers queasy despite US tariff move
South Korean steelmakers remain jittery about their exports to the United States despite Washington's move to temporarily exempt Seoul from heavy tariffs on steel imports, industry sources said Friday.Speaking at a Senate hearing, US Trade Representative Robert Lighthizer said President Donald Trump has authorized a "pause" in the 25 percent tariff on steel and 10 percent tariff on aluminum imports, which were to go into effect Friday.The exemption, which also applies to the European U
March 23, 2018
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US temporarily exempts Korea from steel tariffs
WASHINGTON -- The United States will temporarily exempt South Korea from stiff tariffs on steel imports, a top US trade official said Thursday, following weeks of lobbying by South Korean officials.Speaking at a Senate hearing, US Trade Representative Robert Lighthizer said President Donald Trump had authorized a "pause" in the 25 percent tariff on steel and 10 percent tariff on aluminum imports, which are to go into effect Friday.Also on the list of exemptions are the European Union,
March 23, 2018
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US’ tightening raises rate hike pressure for BOK
The United States’ latest decision to nudge up its key interest rate and the consequent “reversal” of policy rates with South Korea appeared Thursday to have a limited impact on Asia’s fourth-largest economy.Washington’s signal for the start of a belt-tightening monetary policy over the coming years, however, increased pressure for Seoul’s central bank to consider its own rate hikes despite the tepid economic recovery pace, low inflation and unabated household
March 22, 2018
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N. Korea's nuclear tests caused depreciation of Korean won: report
The South Korean currency depreciated at a sharp clip due to the nuclear tests conducted by North Korea last year, a central bank report showed Thursday.The report published by the Bank of Korea examined the movement of the won-dollar rate for five trading sessions before and after nuke tests between 2008 and 2017.It used an analysis model assuming that news articles on North Korean provocations affect the South Korean exchange rates against the U.S. dollar. North Korea has conducted six nuclear
March 22, 2018
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Korea, China begin follow-up FTA talks on services, investment
South Korea and China on Thursday began the first round of talks to expand the scope of the bilateral free trade agreement to better cover the service and investment sectors and increase business opportunities for both sides.The two nations implemented the FTA, which is focused on lowering tariffs on goods, in December 2015 and recently agreed to hold negotiations to upgrade the trade deal.Kim Young-sam, a deputy minister of trade and investment at the Ministry of Trade, Industry and Energy, and
March 22, 2018
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US rate hike expected to have little impact on Korean market
South Korea's central bank chief said Thursday that the latest interest rate hike in the United States will have little impact on the South Korean market."The US Federal Reserve's decision met market expectations, and as a result, the US market remained steady," Bank of Korea Gov. Lee Ju-yeol told reporters before attending an emergency meeting with officials in Seoul. "In South Korea, I expect that the financial market will have little impact from the Fed's decision."The US
March 22, 2018
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Korea vulnerable to global trade war
Concerns are rising that Korea, which is heavily dependent on exports for growth, will become the biggest victim of a looming global trade war prompted by US protectionist measures and retaliatory moves from other major economies.China and the EU are poised to react strongly if they are subject to hefty US tariffs on steel and aluminum imports, which are slated to come into force Friday.The trade conflict between the US and China is set to further flare up as President Donald Trump’s admin
March 21, 2018
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Vaccum cleaners for men, action figures for women
The boundaries between products typically purchased by women and men are crumbling, according to one online retailer’s statistics reported Tuesday. The phenomenon is a reflection of changing attitudes toward gender-assigned roles, experts said. A growing number of men are buying items such as vacuum cleaners, traditionally seen as household goods purchased by women, according to 11st, a local report said. From January to March, some 45 percent of those who purchased robot vacuum cleaners o
March 21, 2018
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S. Korea pins hope on steel tariff exemption
Speculations rose Tuesday that South Korea may have to make compromises concerning its free trade deal renegotiation with the US, as it seeks to be exempted from the Trump administration’s new steel tariff. The possibility escalated after Seoul’s top economic policymakers expressed optimism over the tariff exemption, with days remaining until the measure takes effect. “I expect to have some good results within the week,” Minister of Trade, Industry and Energy Paik Un-gyu
March 20, 2018
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Leaders of S. Korea, Canada vow joint efforts to fight trade protectionism
South Korean President Moon Jae-in and Canadian Prime Minister Justin Trudeau agreed Tuesday to work together to fight trade protectionism in the global market, Seoul's presidential office Cheong Wa Dae said.The agreement came in their phone conversation held earlier in the day."President Moon and Prime Minister Trudeau noted both South Korea and Canada are highly dependent on trade, and expressed concerns over the recent spread of trade protectionism throughout the world," Cheong Wa D
March 20, 2018
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Vietnam to be Korea's No. 2 export market in 2020: report
Vietnam is expected to outstrip the United States as Korea's second-largest export destination in 2020 thanks to a bilateral free trade deal, a report said Tuesday."Bilateral trade is expected to exceed $100 billion in 2020, making Vietnam the No. 2 destination for Korean exports after China," said the report from the Korea International Trade Association.Vietnam surpassed Hong Kong and emerged as Korea's third-biggest export market in 2017, trailing China and the US, up three notches
March 20, 2018
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Fed unlikely to change its policy tack: analysts
The US Federal Reserve is not expected to unveil a surprise shift in its monetary policy position following this week's rate-setting meeting, market analysts said Tuesday.The Federal Open Market Committee is tipped to raise interest rates at the Tuesday-Wednesday meeting to be presided over first by new Fed Chair Jerome Powell.A growing number of market experts have predicted that the US Federal Reserve will jack up interest rates four times this year, from an earlier estimate of three, on solid
March 20, 2018
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View gap between Korean, Japanese men on income, job status, marriage
More Korean men tend to view income and job status as essential factors for a thriving dating life compared to Japanese men, a recent report said.The report, released in late 2017, delves into the correlation between youths' economic self-reliance and family formation in Korea and Japan. The project, led by researcher Cho Sung-ho of the Korea Institute for Health and Social Affairs, cites two studies that analyzed Koreans aged 15-30 and Japanese aged 18-70. Clear differences were spotted between
March 19, 2018
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Korea raises cautious hopes for exemption from US steel tariffs
South Korea's commerce minister on Monday raised cautious hopes for getting an exemption from the United States over proposed tariffs on Korean steel products, as negotiators engage in last-minute lobbying to minimize the impact on the local industry.Paik Un-gyu, minister of trade, industry and energy, said South Korea has been negotiating with US officials through multiple channels to earn a reprieve from the 25-percent steel duties, which are set to go into effect on March 23.South Korean trad
March 19, 2018