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The Korea Times

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Economy

Mon, June 5, 2023 | 03:29

Korea's debt up nearly 10% in 2022 on pandemic spending

Korea's debt up nearly 10% in 2022 on pandemic spending

Korea's national debt rose around 10 percent in 2022 from a year earlier amid increased spending to cope with the COVID-19 pandemic, data showed Tuesday.

2023-04-04 10:43

ADB maintains 1.5% growth outlook on Korea for 2023

ADB maintains 1.5% growth outlook on Korea for 2023

The Asian Development Bank (ADB) on Tuesday maintained its 1.5 percent growth outlook for Korea in 2023, citing continued uncertainties in the global economy.

2023-04-04 10:17

Korea's consumer prices up 4.2% in March

Korea's consumer prices up 4.2% in March

Korea's on-year growth in consumer prices fell to the lowest level in a year in March, data showed Tuesday, in the latest signal that inflation could slow throughout this year.

2023-04-04 09:34

Swiss prosecutors probe Credit Suisse ahead of UBS takeover

Swiss prosecutors probe Credit Suisse ahead of UBS takeover

The Swiss attorney general's office says it has opened a probe into the events surrounding embattled bank Credit Suisse, which is to be taken over by rival UBS.

2023-04-03 21:46

Bank loans to self-employed remain above W1,000 tril.

Bank loans to self-employed remain above W1,000 tril.

The amount of bank loans taken out by self-employed people is estimated to have surpassed 1,000 trillion won ($757.9 billion) for the second consecutive quarter amid lingering risks of default, according to data disclosed Monday. Released by main opposition Democratic Party of Korea (DPK) Rep. Yang Kyung-sook, the data compiled by the Bank of Korea (BOK) showed the total amou...

Yi Whan-woo | 2023-04-03 16:28

Hope for recovery in 2nd half remains in doubt due to continued trade deficit

Hope for recovery in 2nd half remains in doubt due to continued trade deficit

A protracted trade deficit driven by plummeting exports to China is raising doubts over whether the Korean economy will bounce back in the second half of this year as initially predicted by the government. Asia's fourth-largest economy posted a 13-month-long trade deficit as of March - the longest streak since 1997 when it was in the middle of the Asian financial crisis, acco...

Yi Whan-woo | 2023-04-03 15:58

KOSPI-listed companies to start publishing disclosures in English next year

KOSPI-listed companies to start publishing disclosures in English next year

Next year, companies listed on the country's main benchmark KOSPI market will be required to publish disclosures in English within three days after the same disclosure information is submitted in Korean to the Korea Exchange (KRX), the bourse market operator. This is according to a revision of the KRX's disclosure regulations completed at the end of March.

Anna J. Park | 2023-04-02 15:30

Korean exporters saved $5 bil. on lower tariffs from FTAs in 2021: gov't data

Korean exporters saved $5 bil. on lower tariffs from FTAs in 2021: gov't data

Korean exporting companies saved 6.6 trillion won ($5 billion) due to lower tariffs in 2021 thanks to the country's free trade agreements (FTAs) with six major economies, including the United States and the European Union, government data showed Sunday.

2023-04-02 15:20

EU's green regulations drive 'reasonable' demand amid global decarbonization: German biz lobby chief

EU's green regulations drive 'reasonable' demand amid global decarbonization: German biz lobby chief

Green regulations in force or being pushed for by the European Union (EU), including the legislation on reshoring critical minerals, are "reasonable and necessary" given the decarbonization trend, and they offer Korea a chance to deepen economic ties with the bloc, the head of a Seoul-based German business lobby has said.

2023-04-02 10:05

Korea welcomes new guidance on EV tax credits under US Inflation Reduction Act

Korea welcomes new guidance on EV tax credits under US Inflation Reduction Act

The government welcomed Saturday new guidelines the U.S. Treasury Department announced the previous day on tax credits for electric vehicles under the Inflation Reduction Act (IRA), saying it "substantially" reflected South Korea's opinion.

2023-04-01 12:03

US unveils stricter EV tax credit rules to take effect April 18

Korea's exports down for 6th month in March on falling chip demand

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