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Finance

Economy

Sun, May 9, 2021 | 06:54

'Korea's credit default swap premium lowest since 2008 global financial crisis'

Korea's credit default swap (CDS) premium, an indicator that shows the country's risk of national bankruptcy, hit its lowest level since the global financial crisis in 2008, advancing the prospect of a faster economic recovery amid the COVID-19 pandemic, the finance ministry said Thursday.

Lee Kyung-min | 2021-05-06 16:40

Korea ranks 9th in global entrepreneurship index 2020

South Korea been ranked ninth among 44 countries in the global entrepreneurship index 2020, rising six notches from a year earlier, the government said Thursday. Asia's fourth-largest economy won 5.49 points out of the full 10 in the Global Entrepreneurship Monitor's National Entrepreneurship Context Index, up from 5.13 in 2019, according to the Ministry of SMEs and Startups.

2021-05-06 15:04

Korea's debt risk premium at lowest since global financial crisis

The cost of insuring South Korea's sovereign debt against default fell to the lowest level this week since the 2008-09 global financial crisis as the country's economy is recovering faster from the pandemic, the finance ministry said Thursday. The spread on credit default swaps (CDSs) for South Korea's 5-year dollar-denominated currency stabilization bonds came in at 19 basis...

2021-05-06 14:32

Rising consumer prices fan inflation concerns

Consumer prices rose 2.3 percent in April, mostly due to a spike in agricultural produce prices triggered by the H5N8 bird flu epidemic, as well as a jump in industrial product prices sparked by rising oil prices, data showed Tuesday.

Lee Kyung-min | 2021-05-04 14:15

Consumer price growth at near 4-year high in April

South Korea's consumer prices grew at the fastest pace in almost four years in April on higher prices of farm and oil goods, data showed Tuesday, indicating that Asia's fourth-largest economy may face increasingly inflationary pressure.

2021-05-04 08:41

Exports up for 6th month on upbeat shipments of chips, cars

South Korea's exports jumped 41.1 percent in April from a year earlier, the highest growth in around 10 years, as demand for semiconductors and automobiles stayed strong amid the improving global economy, data showed Saturday.

2021-05-01 15:03

Public firms' debt hits record high in 2020

South Korean public firms' liabilities rose for the third straight year last year to hit a record high as they increased investment amid the pandemic, the finance ministry said Friday. Of 350 state-run companies, the combined debt of 347 firms reached 544.8 trillion won ($491.5 billion) at the end of last year, up 17.9 trillion won from the previous year, according to the Min...

2021-04-30 15:27

Korea's economy grows faster than expected in Q1

Korea's economy expanded at a faster-than-expected pace in the first quarter, buoyed by a modest recovery of exports and fiscal policy support, amid signs that the economy is inching closer to pre-pandemic levels, the Bank of Korea (BOK) said Tuesday.

2021-04-27 10:02

Tourism consumption hit hard by pandemic

Consumption expenditures in South Korea's tourism and leisure sector decreased by more than 20 percent last year due to the coronavirus pandemic, a state-funded think tank said Monday. In particular, foreigners' spending in the domestic tourism and leisure sector plunged by nearly 80 percent and the travel industry was hit hardest among the relevant industries, the Korea Cult...

2021-04-26 15:00

April exports estimated to jump 41%

South Korea's exports are expected to jump 41 percent in April from a year earlier, on the back of a base effect, and robust shipments of chips and autos, a poll showed Monday. The country's outbound shipments are forecast to reach $51.1 billion this month, according to the poll on five local brokerage houses by Yonhap Infomax, the financial news arm of Yonhap News Agency.

2021-04-26 10:04

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