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The Korea Times

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Economy

Sun, June 4, 2023 | 17:00

Financial authorities, firms join hands to support jeonse scam victims

Financial authorities, firms join hands to support jeonse scam victims

Financial regulators and major financial groups have begun providing various support programs for victims of housing rental fraud, following a series of suicides committed by victims of cruel “jeonse” scams.

Anna J. Park | 2023-04-23 16:40

Ruling party, gov't seek legislative support for victims

Global sugar price hike prompts concerns over domino effect in Korea

Global sugar price hike prompts concerns over domino effect in Korea

Global sugar prices are increasing sharply, prompting speculation that the cost of bread, ice cream, confectionary, soda and other sugar-based food and beverages in Korea will continue to go up due to the lingering effects of inflation.

Yi Whan-woo | 2023-04-23 16:39

1 Euro Project opens new possibilities for underdeveloped towns

1 Euro Project opens new possibilities for underdeveloped towns

One euro, equivalent to 1,450 won ($1.1), may not seem like a lot of money, being barely enough to cover a single subway ride. But in a secluded section of central Seoul, called Songjeong-dong, 1 euro can go a long way.

Lee Yeon-woo | 2023-04-23 10:51

Honorary ambassadors for national tax agency

Honorary ambassadors for national tax agency

National Tax Service (NTS) Commissioner Kim Chang-ki, center, applauds after appointing actor Kim Soo-hyun, left, and actress Song Ji-hyo, right, as honorary ambassadors of the tax agency at the NTS' Seoul office, Friday. Kim and Song were awarded back in March for serving as role...

2023-04-21 16:36

Public Procurement Service to expand cooperation with US

Public Procurement Service to expand cooperation with US

The Public Procurement Service (PPS) will strengthen cooperation with its U.S. counterpart, including the renewal of a memorandum of understanding (MOU) between the two entities.

Yoon Ja-young | 2023-04-21 10:10

Exports down 11% during first 20 days of April

Exports down 11% during first 20 days of April

Korea's exports fell 11 percent on-year in the first 20 days of April, data showed Friday, amid the prolonged slump in the global chip industry.

2023-04-21 09:51

Producer prices up for 3rd straight month in March

Producer prices up for 3rd straight month in March

Korea's producer prices rose for the third straight month in March, as service and industrial goods prices increased, central bank data showed Friday.

2023-04-21 09:43

Gov't to inject 10.5 tril. won for venture investments

Gov't to inject 10.5 tril. won for venture investments

Financial Services Commission (FSC) Chairman Kim Joo-hyun, left, sits next to SMEs and Startups Minister Lee Young during a press briefing held at the Government Complex in central Seoul, Thursday. The government plans to inject 10.5 trillion won ($7.93 billion) to support investments in innovative ventures and startups. Courtesy of FSC

Anna J. Park | 2023-04-20 16:46

Why is BOK shunning gold despite global frenzy?

Why is BOK shunning gold despite global frenzy?

Countries' demand for gold has risen to an all-time high level recently, as global preference for safer assets has increased amid soaring global interest rates, concerns over economic recessions and the ongoing war between Russia and Ukraine. Yet, despite the global gold frenzy, Korea's central bank has not increased its holdings of gold for the past 10 years.

Anna J. Park | 2023-04-20 16:44

Korean economy set to recover gradually over 2023: ADB economist

Korean economy set to recover gradually over 2023: ADB economist

The Korean economy is set to rebound gradually in 2023, a senior economist at the Asian Development Bank (ADB) said Thursday, citing China's reopening and the recovery of the chip industry.

2023-04-20 13:54

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