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Economy

Thu, February 2, 2023 | 06:58

BIS economist says weak dollar could provide boon for Korea's trade

BIS economist says weak dollar could provide boon for Korea's trade

A weak dollar could serve as a boon for Korea's trade going forward as it provides better financing conditions for businesses, an economist at the Bank for Intentional Settlements (BIS) said Wednesday.

2023-02-01 15:46

Income gap widening among workers

Income gap widening among workers

Salaried workers' income gap has widened for the past couple of years after the economy was hit by the outbreak of the COVID-19 pandemic, data showed Wednesday. The National Tax Service (NTS) data submitted to the office of Rep. Jin Sun-mee of the main opposition Democratic Party of Korea showed that salaried employees in the top 20 percent bracket earned 15.1 times more than...

Lee Min-hyung | 2023-02-01 15:29

Korea's trade balance set to improve gradually: finance minister

Korea's trade balance set to improve gradually: finance minister

Finance Minister Choo Kyung-ho said Wednesday that Korea recorded a trade deficit last month due to higher energy imports, but its trade performance is anticipated to gradually improve down the road on the back of China's reopening.

2023-02-01 10:45

Korea's trade deficit hits record high amid falling exports

Korea's trade deficit hits record high amid falling exports

Korea's exports logged an on-year decline for the fourth consecutive month in January on weak global demand for semiconductors and other items amid an economic slowdown, the industry ministry said Wednesday.

2023-02-01 09:36

2 monetary policymakers wanted time to gauge impact of tightening: minutes

2 monetary policymakers wanted time to gauge impact of tightening: minutes

Two top central bank policymakers expressed worries over the impact of previous rate hikes on the overall economy and wanted to stay put at this year's first rate-setting meeting early this month, minutes of the gathering showed Tuesday.

2023-01-31 17:25

Korean corporations' dividend payout system to follow global standards

Korean corporations' dividend payout system to follow global standards

Investors will be able to decide next year whether to buy the stocks of Korean companies based on the exact size of their dividend payouts, just like in major financial markets' dividend payout systems such as in the U.S. and France.

Anna J. Park | 2023-01-31 16:17

Financial authorities to ease rule on separation of industrial and financial capital in H1

Financial authorities to ease rule on separation of industrial and financial capital in H1

Financial authorities to ease rule on separation of industrial and financial capital in H1

The Financial Services Commission (FSC), Korea's top financial regulator, has vowed to push forward to ease the country's long-held separation of industrial and financial capital during the first half of this year. It aims to open the gate for both local and global financial firms to extend further to non-financial businesses.

Anna J. Park | 2023-01-31 16:12

Korean corporations' dividend payout system to follow global standards

IMF slashes Korea's 2023 economic growth outlook to 1.7%

IMF slashes Korea's 2023 economic growth outlook to 1.7%

The International Monetary Fund (IMF) lowered its 2023 economic growth forecast for Korea to 1.7 percent, Tuesday, down from the 2 percent figure announced in its previous forecast back in October of last year. The revised outlook for Korea is comparable to the country's estimated growth of 2.6 percent in 2022. Korea's economy is also anticipated to expand 2.6 percent in 2024.

Yi Whan-woo | 2023-01-31 15:53

Trade terms worsen for 21st straight month in Dec.

Trade terms worsen for 21st straight month in Dec.

Korea's terms of trade worsened for the 21st straight month in December as export prices fell at a faster pace than import prices, central bank data showed Tuesday.

2023-01-31 14:02

Imports of coffee beans in Korea hit all-time high in 2022

Imports of coffee beans in Korea hit all-time high in 2022

Korea's imports of coffee beans hit a new record in 2022, data showed Tuesday, in the latest sign of the drink's growing popularity in Asia's fourth-largest economy.

2023-01-31 10:47

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