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Economy

Tue, September 26, 2023 | 05:41

Capital flight no longer case despite record Korea-US rate gap

Capital flight no longer case despite record Korea-US rate gap

Following the U.S. Federal Reserve's decision to hike rates by 0.25 percentage points in July, the record-high interest rate gap between Korea and the U.S. has persisted. However, concerns about a potential massive outflow of foreign funds haven't yet materialized as feared.

Lee Yeon-woo | 2023-08-28 15:40

Inflation expected to rebound to above 3% on rising oil, crop prices

Inflation expected to rebound to above 3% on rising oil, crop prices

Consumer inflation in Korea is anticipated to bounce back to the 3-percent range in August and September after decelerating to a 25 month-low of 2.3 percent in July, mainly due to a resurgence in global oil prices, according to analysts, Sunday.

Yi Whan-woo | 2023-08-27 16:28

Fed chief's latest speech to enable BOK to freeze key rate

Fed chief's latest speech to enable BOK to freeze key rate

The Bank of Korea (BOK) is likely to extend its policy of keeping the base rate steady at 3.5 percent, following remarks by Federal Reserve Chair Jerome Powell that were less hawkish than expected regarding the course of the U.S. interest rate, according to market observers, Sunday.

Yi Whan-woo | 2023-08-27 16:28

Exports of fisheries products fall 12% this year: data

Exports of fisheries products fall 12% this year: data

Korea's exports of fisheries products fell more than 10 percent on-year during the first seven months of 2023, data showed Sunday.

2023-08-27 10:03

China's influence on global economy likely to be dampened

China's influence on global economy likely to be dampened

China's full-swing reopening has long been viewed as a potential boost for the global manufacturing industry. However, changes in the country's economic structure, coupled with the real estate crisis, are expected to result in a diminished impact on the global economy compared to previous years, as noted by the Bank of Korea (BOK) on Friday.

Lee Yeon-woo | 2023-08-25 15:40

Growth of wage worker jobs slows in Q1

Growth of wage worker jobs slows in Q1

The employment of wage workers in Korea grew at a slow pace in the first quarter of 2023 amid an economic slowdown, and two out of three newly added jobs were for senior citizens, data showed Friday.

2023-08-25 15:02

Foreign currency deposits up for 3rd straight month in July

Foreign currency deposits up for 3rd straight month in July

Foreign currency deposits increased for the third consecutive month in July as Japanese yen deposits continued to increase, central bank data showed Friday.

2023-08-25 15:02

BOK lowers next year's growth forecast to 2.2%

BOK lowers next year's growth forecast to 2.2%

The Bank of Korea (BOK) lowered its growth forecast for Korea next year to 2.2 percent, Thursday, down from a previous forecast of 2.3 percent made in May. This is the BOK's second straight downward revision of the country's 2024 outlook, which was estimated at 2.4 percent in February.

Yi Whan-woo | 2023-08-24 16:39

Korea's household income inches down in Q2; wealth gap narrows

Korea's household income inches down in Q2; wealth gap narrows

Korea's household income fell 0.8 percent on-year in the second quarter of 2023 due to the drop in COVID-19-related subsidies and other state support, and the narrowed income gap between the haves and have-nots, data showed Thursday.

2023-08-24 12:10

BOK stands pat for 5th time amid slowdown woes

BOK stands pat for 5th time amid slowdown woes

Korea's central bank held its key interest rate steady for the fifth straight time Thursday as it weighs a slowdown in growth amid moderating inflation.

2023-08-24 10:04

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