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The Korea Herald

Economy

December 05, 2019
S. Korea’s current account surplus reaches 12-month high

South Korea’s current account surplus grew slightly from a month earlier to reach a 12-month high in October as its service account deficit narrowed while its primary income account surplus expanded, central bank data showed on Dec. 5. The country’s current account surplus came to $7.83 billi...
December 03, 2019
S. Korean economy grows 0.4% in Q3

The South Korean economy expanded 0.4 percent from three months earlier in the third quarter as earlier estimated, the Bank of Korea said in its latest revision released Dec. 3. The third-quarter growth estimate remained unchanged from preliminary figures released in late October despite slight...
December 02, 2019
Korea’s inflation turns positive in Nov

South Korea’s consumer prices rose 0.2 percent on-year in November, marking the first gain in four months, the statistics agency said Dec. 2. The consumer price index stood at 104.87 in November, compared with 104.71 for the same month last year, Statistics Korea said in a statement. The N...
November 25, 2019
S. Korean economy to rebound in 2020: think tank

The South Korean economy is expected to bounce back next year, although its expansion may be weaker than expected due to falling exports and weak consumer sentiment. Asia’s No. 4 economy is expected to grow 2.3 percent on-year in 2020, according to the Korea Institute for Industrial Economics ...
November 25, 2019
S. Korea, Cambodia to launch feasibility study on FTA

South Korea and Cambodia agreed to launch a joint feasibility study on their potential free trade agreement in a move to forge deeper economic ties and expand exchanges, Seoul’s Trade Ministry said Nov. 25. The agreement came in line with the country’s two-day summit with the Association of S...
November 25, 2019
S. Korea to hold annual meeting with Fitch Ratings

South Korea will hold an annual consultation with Fitch Ratings this week on the country’s sovereign rating, the Finance Ministry said Bov. 25. A three-member Fitch delegation led by James McCormack, Fitch’s head of sovereign ratings, is set to meet with officials from the Finance Ministry, U...
November 25, 2019
S. Korea’s exports to dip for 12th month in Nov.: poll

South Korea’s exports are expected to drop for the 12th month in a row this month, a poll showed Nov. 25, due mainly to sinking overseas demand for chips. Outbound shipments are likely to fall 10.8 percent on-year to $45.9 billion this month, according to the poll by Yonhap Infomax, the financ...
November 21, 2019
Civic activists raise concerns about Lone Star as film dramatizes dispute

A movie based on the true story of the takeover of the Korea Exchange Bank by US hedge fund Lone Star Funds has reignited controversy over the deal, which is still the subject of an ongoing investor-state dispute. A group of activists and a lawmaker from the progressive Justice Party on Nov. 21 vo...
November 21, 2019
Household debt hits record high in Q3

South Korea’s household debt reached a record high in the third quarter of the year, but it grew at the slowest clip in more than 15 years amid government measures to curb it, central bank data showed Nov. 21. Outstanding household credit -- household loans and credit card spending -- came to ...
November 19, 2019
Cabinet approves bill on regulation of P2P lending

The Cabinet on Nov. 19 approved a bill on regulation of peer-to-peer loans in a bid to tackle deceptive P2P lending practices and protect consumers, officials said. Under the regulation, which will take effective from August next year, all P2P lenders must have paid-in capital of more than 500 ...
November 18, 2019
S. Korea eases visa regulations for foreigners in parts, materials

South Korea’s Justice Ministry on Nov. 18 unveiled a revised visa policy to ease regulations for foreign workers in the parts, materials and equipment industries as part of ongoing efforts to help the industries that have taken a hit from Seoul’s trade row with Tokyo. “We have implemented a ...
November 18, 2019
S. Korea’s trade deficit with Japan tipped to hit 16-year low

South Korea’s trade deficit with Japan is expected to sink to a 16-year low in 2019 due to a tumble in imports, data showed Nov. 18. Seoul posted a trade deficit of $16.37 billion with Tokyo in the first 10 months of this year, down 20.6 percent from a year earlier, according to the data from ...
November 17, 2019
S. Korea mulling separate FTAs with more ASEAN member states

South Korea is exploring the possibility of forging individual free trade deals with more ASEAN member states, a senior trade official has said, in a move to further boost growing economic ties with the region. South Korea has a free trade agreement with the 10-member Association of Southeast A...
November 07, 2019
S&P keeps Korea’s rating at AA with stable outlook

Standard & Poor’s on Nov. 6 affirmed its AA sovereign credit rating for South Korea, despite earlier slashing its growth outlook. The global rating agency also maintained its stable outlook for the Korean economy. “The stable outlook reflects our expectation that geopolitical risks in the...
November 07, 2019
Agricultural exports up 1.3% through Oct.

South Korea’s exports of agricultural products advanced 1.3 percent in the first 10 months of 2019 from a year earlier, data showed Nov. 7, on the back of strong demand for fresh goods. The country’s outbound shipments of agricultural goods in the January-October period reached $5.79 billion,...

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