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The Korea Times

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SCMP
Asia

The Korea Times

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Economy

Tue, May 30, 2023 | 19:58

Korea's economy sluggish on weak exports; domestic demand limits wane

Korea's economy sluggish on weak exports; domestic demand limits wane

The Korean economy remains sluggish amid ailing exports, but its downward trend has been moderated due to a recovery in its domestic consumption, a state-run think tank said Monday.

2023-05-08 13:48

FSC eases regulations to spur M&As

FSC eases regulations to spur M&As

In a move to foster active corporate M&As to bring about economic innovation, the Financial Services Commission (FSC), the country's top financial regulator, has decided to ease the financial burden on potential buyers to prove their capital qualifications, when it comes to launching tender offers.

Anna J. Park | 2023-05-07 16:45

Korea likely to slash 2023 growth forecast amid plunging exports

Korea likely to slash 2023 growth forecast amid plunging exports

Korea is leaning toward revising down its growth forecast for this year, in the face of a deepening export slump, a weaker-than-expected spillover effect of China's reopening and other worsening economic risks here and abroad. Earlier this year, both the Ministry of Economy and Finance and the Bank of Korea (BOK) estimated the country's economy to expand by 1.6 percent in 202...

Yi Whan-woo | 2023-05-07 16:29

ADB participants enjoy business opportunities, cultural experiences

ADB participants enjoy business opportunities, cultural experiences

As the 56th annual meeting of the Asian Development Bank (ADB) drew to a close on Thursday, participants crowded the networking hub at Songdo Convensia in Incheon, hoping to seize a final opportunity to find potential business partners.

Lee Yeon-woo | 2023-05-05 17:21

Taming inflation still in focus, extra budget not under consideration: Choo

Taming inflation still in focus, extra budget not under consideration: Choo

The finance minister said Thursday taming inflation remains the top priority for the country's economic policy, noting a hasty transition may reignite inflationary pressure.

2023-05-04 20:09

Korea-US interest gap widens to record high

Korea-US interest gap widens to record high

The interest rate gap between Korea and the United States has risen to a historic high of 1.75 percentage points following the U.S. Federal Reserve's unanimous decision to increase interest rates by a quarter percentage point to a range of 5 to 5.25 percent. This increases pressure on the Korean economy amid concerns of an exodus of foreign capital in search of higher returns...

Lee Min-hyung | 2023-05-04 16:28

US Fed lifts interest rates again, signals potential pause

[INTERVIEW] Philippines' top central banker calls on ADB members to enhance multilateral cooperation against crisis

INTERVIEWPhilippines' top central banker calls on ADB members to enhance multilateral cooperation against crisis

INCHEON - The member countries of the Asian Development Bank (ADB) should continue to enhance multilateral financial cooperation to ensure sufficient liquidity and foreign exchange reserves against possible economic crisis, the top central banker of the Philippines said. In an exclusive interview with The Korea Times, Felipe Medalla, the governor of Bangko Sentral ng Pilipina...

Yi Whan-woo | 2023-05-04 16:23

Spillover effects from China expected to boost Korea's economy: IMF

Spillover effects from China expected to boost Korea's economy: IMF

INCHEON - Korea is expected to see the spillover effects of China's reopening in the second half of this year, the head of the Asia and Pacific Department at the International Monetary Fund (IMF) said, Thursday. “The initial pace of [China's reopening] has been led by consumption goods and services, because during the pandemic, consumption was depressed. Going forward to the ...

Lee Yeon-woo | 2023-05-04 16:08

Choo calls for ADB's 'flexible, creative' approach on poverty, climate issues

Choo calls for ADB's 'flexible, creative' approach on poverty, climate issues

Korea's finance minister called Thursday for the Asian Development Bank (ADB) to adopt more "flexible and creative" approaches to address the region's tasks, such as poverty and climate change.

2023-05-04 14:37

Higher interest rates weighing on Korea's domestic demand: IMF

Higher interest rates weighing on Korea's domestic demand: IMF

Korea's high borrowing costs are holding back the country's domestic demand, the director of the Asia-Pacific at the International Monetary Fund (IMF) said Thursday, although its exports are set to rebound on China's recovery.

2023-05-04 14:35

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