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The Korea Times

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Economy

Tue, May 30, 2023 | 13:31

Korea's trade balance expected to improve after May: finance minister

Korea's trade balance expected to improve after May: finance minister

Korea's finance minister said Monday the country's trade balance could improve after May and he expects a gradual recovery of tax revenue down the road as well.

2023-05-22 11:34

Korean financial systems to take root in Central Asia

Korean financial systems to take root in Central Asia

The vice chief of Korea's top financial regulator wrapped up a four-day visit to two countries in Central Asia, facilitating overseas business expansions by Korean financial firms and joint investments in the region.

Anna J. Park | 2023-05-21 16:26

3rd straight rate freeze likely this week amid sluggish economy

3rd straight rate freeze likely this week amid sluggish economy

The Bank of Korea (BOK) is expected to keep its key interest rate intact for the third consecutive time in its rate-setting meeting this week, as an economic slowdown has become a bigger concern than inflation, according to analysts, Sunday.

Yi Whan-woo | 2023-05-21 16:14

Moody's keeps 'Aa2' rating on S. Korea with stable outlook

Moody's keeps 'Aa2' rating on S. Korea with stable outlook

Global credit appraiser Moody's Investors Service said Friday it has affirmed its credit rating on South Korea "Aa2," with a stable outlook.

2023-05-19 19:52

Aging population poses grave risks to Korea's economic growth

Aging population poses grave risks to Korea's economic growth

Korea's demographic crisis, fueled by a plunging birthrate and rapidly-aging population, will wreak havoc on its economy in the coming years, according to global credit ratings agencies. They warn that Asia's fourth-largest economy will face rating downgrades by 2050 unless it averts the ongoing population decline.

Lee Yeon-woo | 2023-05-19 16:19

Gen Z, Millennials choose cost of living, unemployment, climate change as top concerns: report

Gen Z, Millennials choose cost of living, unemployment, climate change as top concerns: report

Cost of living turns out to be the issue of the highest concern for those of Gen Z and Millennials across the world, followed by unemployment and then climate change.

Anna J. Park | 2023-05-18 17:01

Korea trails behind Japan in post-pandemic economic recovery

Korea trails behind Japan in post-pandemic economic recovery

The Japanese economy, which has long suffered from decades of stagnation, is showing signs of recovery. Its gross domestic product (GDP) growth rate has turned positive for the first time in three quarters, surpassing that of Korea. If this trend continues, Japan will surpass Korea in terms of real economic growth rate this year, for the first time in 25 years since 1998 duri...

Lee Yeon-woo | 2023-05-18 16:41

[CONTRIBUTION] Firms urged to increase investment in third-party risk management

CONTRIBUTIONFirms urged to increase investment in third-party risk management

In an increasingly volatile economic and political environment, it's important for firms to manage risks across their supply chains. Firms worldwide are thus upping investment in this area, according to new research.

2023-05-18 08:45

FSS lists Eland, Kakao in debt monitoring group

FSS lists Eland, Kakao in debt monitoring group

Retail tycoon Eland and Kakao, Korea's Big Tech conglomerate, have recently been included in the Financial Supervisory Service's (FSS's) debt list due to their respective high levels of indebtedness.

Anna J. Park | 2023-05-17 16:53

Korea's tourism industry deficit widens after pandemic ends

Korea's tourism industry deficit widens after pandemic ends

Recent data reveals a significant surge in the number of Korean travelers heading overseas this year, while the number of foreign visitors to Korea has remained stagnant. This disparity could worsen the country's tourism earnings deficit and further burden the already struggling industry, market watchers said.

Lee Yeon-woo | 2023-05-17 16:32

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