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You searched for "covid projection" ( 130 results )
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Samsung ranks No. 1 in US high-end projector market
Samsung Electronics said Sunday that it ranked No. 1 in the premium home cinema projector market in the United States, a year after the electronics giant entered the market with its flagship The Premiere lineup. Samsung Electronics’ high-end projectors priced at $3,000 or more accounted for 27.8 percent of the US market by sales from January to October, the company said, citing an estimate from US market intelligence firm NPD Group. In particular, Samsung’s focus on ultrashort th
Technology Nov. 28, 2021
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BOK likely to raise interest rate to 1% amid inflationary pressure
South Korea’s central bank is expected to carry out its second rate hike in the pandemic era this week, and is likely to raise it by 25 basis points to 1 percent, experts said Sunday. The Bank of Korea in August raised its base rate to 0.75 percent from a record-low 0.5 percent, which it had slashed to in May 2020 to cushion the market from COVID-19 woes. It kept the rate anchored at 0.75 percent in the following meeting held in October. In the last monetary policy meeting of the year sc
Economy Nov. 21, 2021
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[Editorial] Sapping momentum
Data released this week by the Bank of Korea cast doubts on whether the country’s economy will grow around 4 percent this year as forecast earlier by the central bank and the government. South Korea saw its real gross domestic product expand 0.3 percent in the July-September period from three months earlier. In August, the BOK said that Asia’s fourth-largest economy could achieve annual growth of 4 percent in 2021, if it grew by at least 0.6 percent on-quarter in the third and fourt
Editorial Oct. 29, 2021
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[Herald Interview] ‘For durable recovery, S. Korea’s monetary policy can remain accommodative’
The Bank of Korea’s August decision to raise its key rate has sent a market signal that the pandemic-triggered liquidity party in South Korea could be nearing an end. The International Monetary Fund, a global organization striving for financial stability, however, remained cautious about the central bank’s hawkish turn to fight rising inflationary pressure and soaring household debt, advising it to slow down the pace of rate normalization. “Korea’s monetary policy stanc
Economy Oct. 19, 2021
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Central bank chief refutes rumors of government intervention in rate hike
South Korea’s monetary policy chief on Friday denied that the central bank’s latest rate hike was aimed at boosting the government’s real estate measures, which have failed to cool down the nation’s heated property market. In a parliamentary audit held Friday, Lee refuted rumors that the Bank of Korea’s first pandemic-era rate hike carried out in August, was a move pressured by the government. The latest rate hike by 25 basis points to 0.75 percent ended more th
Economy Oct. 15, 2021
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At G-20 meeting, Korea‘s fiscal chief stresses expansionary policy
South Korea’s Economy and Financial Minister Hong Nam-ki has said that the government will keep expansionary policies next year as the country eyes an economy recovery and return to “normal life” out of the COVID-19 pandemic. “We’re gradually preparing to go back to normalcy by increasing the vaccination rate and the country’s central bank is gradually adjusting its accommodative monetary policy,” Hong, who also doubles Deputy Prime Minister, told Kr
Economy Oct. 13, 2021
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IMF keeps S. Korea’s 2021 growth outlook at 4.3%, trims global economic forecast
The International Monetary Fund maintained its forecast for South Korea’s economic growth for this year at 4.3 percent, while revising down its projection for the global economy, the Ministry of Economy and Finance said Tuesday. The IMF’s latest outlook for Asia’s fourth-largest economy remained unchanged from the earlier figure suggested in July. It is well above the growth estimates made by the government and the Bank of Korea -- 4.2 percent and 4.0 percent, respectively.&
Economy Oct. 12, 2021
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BOK chief hints rate hike next month
South Korea’s monetary policy chief said Tuesday the central bank may carry out its second rate hike in the pandemic-era next month, after deciding to keep the rate steady at 0.75 percent until then. “When we made our rate hike decision in August, we mentioned that we would adjust the level of our monetary easing in tandem with the pace of the economic recovery,” Bank of Korea Gov. Lee Ju-yeol said in a briefing tied to Tuesday’s rate-setting meeting. “We have d
Economy Oct. 12, 2021
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[News Focus] Korea ranks 32nd of 36 OECD members in GDP growth
SEJONG -- South Korea lagged behind major countries in economic growth during the second quarter of the year, placing 32nd among 36 members of the Organization for Economic Cooperation and Development. Korea also ranked 37th of 46 economies, when the OECD included 10 nonmembers -- such as China and Russia -- in its analysis. According to the Paris-based organization, Korea posted a 0.8 percent growth in gross domestic product in the second quarter, compared to the previous quarter. The analys
Economy Sept. 30, 2021
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ADB maintains S. Korea’s growth outlook at 4%, trims projection for Asia
The Asian Development Bank on Wednesday maintained its previous 4 percent growth outlook for the South Korean economy this year, on the back of robust exports and mild recovery in private consumption. The ADB kept its earlier growth scenario for Korea, which was released in July. It also left its 2022 growth outlook unchanged at 3.1 percent, according to the bank’s report titled “Asian Development Outlook Update.” However, it forecast that Korea’s inflation rate will
Economy Sept. 22, 2021
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[Editorial] Weakening fundamentals
A report released by the Bank of Korea this week estimated the country’s potential growth rate for 2021-22 at 2 percent, down 0.2 percentage point from its previous estimate made in August 2019. The rate for 2019-20 was estimated at 2.2 percent, also a fall from the previous projection of 2.5-2.6 percent. The fall in South Korea’s potential growth rate has been accelerated in recent years not just by the economic fallout from the COVID-19 pandemic but by structural problems weighing
Editorial Sept. 17, 2021
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Korea’s aging population to sap fiscal health: Fitch
The fast-paced aging of South Korea’s population is likely to undermine the fiscal health of Asia’s fourth-largest economy in the long run amid soaring debt, credit ratings agency Fitch Ratings said Monday. The aging population, coupled with a declining fertility rate of fewer than one child per woman, could leave Korea exposed to higher risks as rising government spending could become a less effective means of boosting nationwide productivity. Fitch urged Korea to carry out midt
Economy Sept. 13, 2021
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AMRO ups 2021 growth outlook for S. Korean economy to 3.9%
The ASEAN-sponsored economic research agency on Monday raised its 2021 growth forecast for the South Korean economy to 3.9 percent, citing solid recovery in exports and facility investment. The projection by the ASEAN+3 Macroeconomic Research Office (AMRO) marks an increase from its March estimate of 3.2 percent. The agency forecast Asia's fourth-largest economy would expand 3 percent next year. The Singapore-based organization was established in 2011 to promote macroeconomic and financial sta
Economy Aug. 23, 2021
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Musical promotes peace in DMZ area
The musical “Wonder Ticket” is to take the stage near the Demilitarized Zone between the two Koreas in hopes of spreading a message of peace. The musical, organized by the Ministry of Culture, Sports and Tourism and the Korea Tourism Organization, will run from Sept. 17 to 26 at Pyeonghwa-Nuri Park in the Imjingak area, in Paju, Gyeonggi Province. The musical was inspired by an abandoned steam locomotive which sits at Jangdan Station in Imjingak, on the banks of Imjin River that
Performance Aug. 18, 2021
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Korea keeps wider Seoul under tight social distancing for another two weeks
Seoul and nearby cities -- the epicenter of Korea’s current, largest wave of COVID-19 yet -- will stay under strict social distancing rules for another two weeks, health officials said Friday, as cases continue to break records. The Ministry of Health and Welfare’s spokesperson Son Young-rae said in a briefing that the strictest social distancing tier would remain in place at least until Aug. 8, after two weeks of the same restrictions failed to squash the surge in cases. &ldqu
Social Affairs July 23, 2021
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Despite virus resurgence, ADB revises up Korea’s GDP growth forecast to 4%
As the South Korean economy faces the grave impact of the fourth wave of COVID-19, it is also being forecast to expand 4 percent this year due to strong exports and investments, the Asian Development Bank said Tuesday, revising up its previous projection of 3.5 percent. In an updated economic forecast, the regional lender cited “facility investment that reflected expansion in the digital economy,” as well as robust “export of information technology and transport equipment&r
Economy July 20, 2021
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BOK stands pat as 4th wave of outbreaks ups uncertainties
South Korea's central bank on Thursday held its benchmark policy rate unchanged at a record low of 0.5 percent amid a recent spike in COVID-19 infections but strongly hinted it may conduct its first post-pandemic rate hike by the end of this year. Bank of Korea (BOK) Gov. Lee Ju-yeol said the central bank will review whether a policy adjustment is needed at next month's rate-setting meeting, maintaining his hawkish stance on inflation and financial imbalances. The BOK "could raise its key
Economy July 15, 2021
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[Shang-Jin Wei] The global dangers of rising US inflation
As US inflation continues to accelerate, with consumer prices increasing 5 percent year on year in May, it is not only the US Federal Reserve that needs to remain vigilant. Policymakers around the world -- and in vulnerable economies in particular -- also should prepare for the possibility that US interest rates will rise faster and sooner than most forecasts currently predict. After all, the Fed has raised its inflation forecasts significantly over the last 12 months. At its mid-June meeting,
Viewpoints July 13, 2021
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S&P raises Korea's growth outlook for 2021 to 4%
Credit ratings agency S&P Global Ratings revised South Korea’s economic growth outlook for 2021 by 0.4 percentage point to 4 percent Wednesday. The revision comes six months after the agency projected the Asia’s fourth-largest economy to grow 3.6 percent in January, which was then deemed more optimistic than the government’s projection. “We’ve always been optimistic about Korea’s recovery prospect. This year, we see a growth of 4 percent and next year at
Economy July 7, 2021
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Exports up 40%, in best June in history
South Korea just had the best June ever in terms of export performance on strong global demand, as vaccine rollouts in major economies raise hopes for a recovery. According to the Ministry of Trade, Infrastructure and Energy, the country’s total volume of exports last month came in at $54.8 billion, up 39.7 percent from a year earlier. It was the best export performance that Asia‘s fourth-largest economy has ever recorded in June, and the third-best performance for any month of
Industry July 1, 2021
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