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The Korea Herald

Economy

February 19, 2020
Meet the ‘3 Bs’ behind South Korea’s soft power

In 2012, Psy’s “Gangnam Style” made the world do the horse dance and proved that South Korean cultural content could go beyond East Asia and even spread to other continents. Fast forward to 2019, and the country with a population of 51 million is a cultural powerhouse -- with its artists and cu...
February 13, 2020
Experts propose senior playgrounds

It is not just children who need playgrounds but also senior citizens, experts said at a forum that took place at the National Assembly earlier this week. Co-hosted by three lawmakers -- Kim Bu-gyeom, Jeon Hyun-hee and Kim Sung-shik -- the forum on Feb. 11 discussed the necessity of places for phy...
January 29, 2020
Herald to host 49th English Speech Contest

Herald Corp., which publishes 67-year-old English-language newspaper The Korea Herald, will host the 49th Herald National English Speech Contest. The event is designed to foster creative and logical thinking, as well as foreign-language presentation skills of students, providing them a chance to g...
January 21, 2020
S. Korea to launch financial data exchange platform in March

South Korea will test-run a financial data exchange platform in March, enabling users to sell and purchase such data conveniently, the nation’s top financial regulator said Tuesday, in a move seen as an effort to accelerate digital transformation. According to the policymaking Financial Services...
December 24, 2019
Service sector sales up 5.6% in 2018

South Korea’s service sector logged a 5.6-percent rise in sales last year from a year earlier, thanks to robust sales at convenience stores and coffee shops, data showed Dec. 24. The combined sales of local service firms totaled 2,155 trillion won ($1.85 trillion) last year, compared with 2,04...
December 12, 2019
BOK sees uncertainties easing

South Korea is still faced with continuing uncertainties, but the levels may have somewhat eased, a senior official at the Bank of Korea said Dec. 12. “As the US Federal Reserve chairman said in a press conference, uncertainties have not disappeared. I understand he noted there always exist un...
December 11, 2019
Japanese firms urged to invest more in S. Korea amid trade row

South Korea wants more investment from Japanese companies and business ties should remain unfazed by the still ongoing trade row, Seoul’s Trade Minister said Dec. 11. “Despite the temporal tumble in the bilateral relationship, the exchange and cooperation between the two nations must remain s...
December 11, 2019
S. Korea’s household debt continues to rise in Nov.

Household debt extended by banks in South Korea continued to increase at a steady pace in November, while fresh bank deposits spiked at the highest level in nearly five years, central bank data showed Dec. 11. Fresh bank loans extended to households came to 7 trillion won ($5.9 billion) in the ...
December 11, 2019
Jobless rate falls to 3.1% in Nov.

South Korea’s jobless rate fell to 3.1 percent in November, and job additions came to over 330,000, data showed Dec. 11. The unemployment rate decreased 0.1 percentage point on-year, and the number of employed people reached 27.5 million in November, according to the data compiled by Statistic...
December 10, 2019
S. Korea most affected by US-China trade spat: report

South Korea may have been hit the hardest among major economies by the protracted trade dispute between the United States and China due to its high dependence on exports to the countries, a report said Dec. 10. The US and China are the world’s largest importers of Korean products with shipment...
December 09, 2019
S. Korea ready to swiftly act if financial volatility rises

South Korea’s vice finance minister said Dec. 9 the government will swiftly take measures to stabilize its financial markets in case of increased volatility amid renewed concerns about the trade war between the United States and China. Vice Finance Minister Kim Yong-beom told a meeting with se...
December 09, 2019
FDI pledges to S. Korea exceed $20b in 2019

New foreign direct investment pledged to South Korea has surpassed $20 billion this year, thanks to rising interest in the nation’s materials, parts and equipment industries, government data showed Dec. 9. Korea received $20.3 billion worth of FDI commitments as of Dec. 2, according to the dat...
December 08, 2019
Power market open to private firms, price hike needed for green energy expansion

South Korea’s efforts to tackle environmental issues related to power generation using conventional technologies are no longer sustainable, and the only way forward -- apart from expanding renewable energy -- is to allow private operators in the sector which is now controlled by state firms, accor...
December 06, 2019
Global influencers participate in Jeju World Natural Heritage Center’s tour

Global influencers visited Jeju Island from Dec. 2-5 to participate in a tour hosted by the Jeju World Natural Heritage Center. According to the Jeju World Natural Heritage Center, the island is the only place in the world that has won three UNESCO designations. It was named Biosphere Reserve in ...
December 05, 2019
Moon pledges to expand FTA network

President Moon Jae-in pledged Dec. 5 to expand South Korea‘s global free trade agreement network to boost its economic growth and fend off protectionism. In an address to mark the Trade Day, Moon also pledged to ease regulations and enhance research and development for new technology industrie...

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