Bank of Korea holds key rate steady, cuts 2024 growth outlook
The Bank of Korea’s hawkish stance partly stems from Korea’s snowballing household debts. Despite the high rates, the outstanding household credit for the third quarter…
Im Eun-byel
South Korea to test central bank digital currency with public vouchers
Central bank digital currencies are a new form of digital money issued by a central bank, divided into two types: the wholesale CBDC for institutions and the retail CBDC for…
South Korea to inject 1 trillion won into youth employment programs
The percentage of young people who are not in education, employment or training among the total teenage and young adult population has been on the increase since 2016.
US Treasury removes Korea from currency manipulation watchlist
Industry sources said the exclusion would not directly affect the Korean won’s exchange rate against the US dollar.
Korea’s spending on overseas tourism rises by most in 13 years
Although the figure has been on a constant rise in recent months, this is the sharpest increase seen in more than 13 years.
South Korean commercial banks mull financing arms export to Poland
If the deal proceeds, it is projected to take on the form of a syndicated loan, meaning it will be provided by a group of lenders to a single borrower, a method often used to…
Korea, Indonesia to bolster ties on future growth drivers
Over the past five decades, the two countries have enhanced their economic and business partnership. The trade volume has surged from $185 million in 1973 to $26 billion in 2022,…
Bank of Korea breathes sigh of relief after Fed pauses rate hikes
With the Fed's rate pause, the Korean central bank is likely to go for its seventh consecutive rate freeze at its last rate-setting meeting of the year slated to take place on…
Exports log first rise in 13 months in sign of trade recovery for Korea
The country’s exports in October stood at $55.09 billion, a 5.1 per cent increase from the same month last year. Imports declined by 9.7 per cent to $53.5 billion, resulting in…
South Korean economy continues slow, steady recovery in third quarter of 2023
The economy has been on a recovery path since its lowest when it contracted by 0.3 percent in the fourth quarter of last year, followed by an on-quarter growth of 0.3 percent and…