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The Korea Times

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SCMP
Asia

The Korea Times

Finance

Economy

Thu, March 23, 2023 | 10:48

Inflation expectations up for 2nd month in Feb. ahead of BOK's policy meeting

Inflation expectations up for 2nd month in Feb. ahead of BOK's policy meeting

Korea's inflation expectations rose for the second straight in February on worries over rising public utility charges ahead of the Bank of Korea's (BOK) monetary policy meeting set for later this week, a central bank survey showed Tuesday.

2023-02-21 09:29

Robot delivery service to be available for Korean consumers from 2026

Robot delivery service to be available for Korean consumers from 2026

The government said Monday it will push to commercialize the delivery of packages by robots and drones starting in 2026 and 2027, respectively, on its path to build a next-generation logistics system. It also said it will begin urban air mobility (UAM) vehicle tests with six Korean consortiums to fully commercialize them in 2025, while opening an independent organization resp...

Yi Whan-woo | 2023-02-20 16:41

Young Koreans pull out of housing subscription savings accounts

Young Koreans pull out of housing subscription savings accounts

Young people in Korea are either closing down or opting not to open a housing subscription savings account as the real estate market here continues to remain in the doldrums. Falling home prices and a low annual deposit interest rate are also cited as the reasons behind this trend.

Lee Yeon-woo | 2023-02-20 16:13

Gov't admits economy slowing down amid falling exports, inflation

Gov't admits economy slowing down amid falling exports, inflation

The Korean government officially identified the country's economy as having slowed in its monthly economic analysis report on Friday. It is the first time that the finance ministry's monthly report acknowledged that the economy has slowed.

Anna J. Park | 2023-02-17 16:49

BOK feels increasing pressure to raise rate amid undying inflation

BOK feels increasing pressure to raise rate amid undying inflation

BOK feels increasing pressure to raise rate amid undying inflation

The Bank of Korea (BOK) is being pressed to increase its policy rate again next week, as inflation here may possibly be rising again since January after cooling down in November and December. The BOK may not be able to take a breather in its rate policy, also due to a slower-than-expected decline in U.S. inflation last month.

Yi Whan-woo | 2023-02-17 16:04

Gov't admits economy slowing down amid falling exports, inflation

Korea's economic fundamentals 'very strong': World Bank CFO

Korea's economic fundamentals 'very strong': World Bank CFO

Korea boasts strong economic fundamentals and is set to post robust growth once the global economy gains traction, the chief financial officer of the World Bank has said.

2023-02-16 11:46

US agricultural exports to Korea reach all-time high in 2022

US agricultural exports to Korea reach all-time high in 2022

Shipments of American agricultural products to Korea reached a record high of over $10 billion last year, U.S. data showed Wednesday.

2023-02-16 09:29

Vice finance minister meets global investors to encourage investments in Korea

Vice finance minister meets global investors to encourage investments in Korea

First Vice Finance Minister Bang Ki-sun met with a group of global investors in New York City to correctly address Korea's economic situation and encourage investment toward the country, the ministry said Wednesday. It said Bang's meeting at Lotte New York Palace hotel from Monday to Tuesday involved 21 executives from big-name companies.

Yi Whan-woo | 2023-02-15 16:31

Financial regulator to focus on preemptive inspections

Financial regulator to focus on preemptive inspections

The Financial Supervisory Service (FSS) is setting out to shift its investigative focus from a punitive nature to preemptive and preventive so that financial companies as well as financial markets could maintain their soundness efficiently amid growing uncertainties. According to its annual plan for this year announced on Wednesday afternoon...

Anna J. Park | 2023-02-15 16:27

Korea maintaining solid external soundness: senior official

Korea maintaining solid external soundness: senior official

Korea is maintaining robust external soundness in the face of uncertainties, a senior government official has said during a meeting with global investors earlier this week in the United States.

2023-02-15 11:39

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