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The Korea Herald

Economy

November 07, 2019
FDI in S. Korea plunges 37% in H1

Foreign direct investment in South Korea plunged 37 percent in the first half from a year earlier, a poor performance compared with the United States, China and Japan, a business lobby said Nov. 7. FDI in Asia’s fourth-largest economy fell to $9.87 billion in the January-June period from $15.7...
November 06, 2019
S. Korea’s risk premium hits lowest since 2008

South Korea’s credit default risk fell to the lowest level in more than 12 years, the Finance Ministry said Nov. 6, underscoring foreign investors’ confidence in Asia’s fourth-largest economy. The credit default swap premium for Korean foreign exchange stabilization bonds with a five-year ma...
November 06, 2019
S. Korea, US hold high-level talks on economic cooperation

South Korea and the United States held vice-ministerial economic cooperation talks in Seoul on Nov. 6, largely aimed at enhancing their key regional policy initiatives in Southeast Asia and the Indo-Pacific region, the Foreign Ministry said. The Senior Economic Dialogue took place between Secon...
November 06, 2019
S. Korea adopts price ceiling on privately built flats

South Korea’s Transport Ministry on Nov. 6 adopted a scheme to cap presale prices of privately built apartments as part of extended efforts to stabilize real estate markets. Seoul revised related laws last month to execute the “presale price cap system” for apartments to be built by private ...
November 06, 2019
Korea’s current account surplus hits 11-month high in Sept.

South Korea’s current account surplus reached an 11-month high in September, although its amount narrowed from a year earlier due to slowing exports, central bank data showed Nov. 6. The country’s current account surplus reached $7.48 billion in September, compared with a surplus of $11.01 bi...
November 05, 2019
S. Korea builds hydrogen plant

South Korea has built a hydrogen plant in the country’s western region, the Oceans Ministry said Nov. 5, in a move that could further boost its efforts to support the promotion of hydrogen fuel cell electric vehicles. The Korea Western Power Co.’s plant in Taean, some 150 kilometers southwest...
November 05, 2019
S. Korea’s forex reserves climb to record high in Oct.

South Korea’s foreign exchange reserves rose to a new high last month, but largely due to the weakening of the US dollar, which pushed up the dollar value of its assets held in other currencies, central bank data showed Nov. 5. As of end-October, the country’s forex reserves came to $406.32 b...
November 03, 2019
S. Korea marks one of the sharpest falls in potential growth rate: OECD

South Korea logged one of the sharpest falls in its potential growth rate over the past two years among advanced economies, data showed on Nov. 3. The country’s potential economic output was estimated at 2.7 percent for this year, according to the Organization for Economic Cooperation and Develop...
October 31, 2019
BOK hails US rate cut, says may remove uncertainties

South Korea’s central bank on Oct. 31 welcomed the latest US rate cut, saying it may help remove some economic uncertainties. “We believe a US rate cut generally works toward boosting the economy and raising stock prices. It will support global growth and certainly have a positive effect o...
October 28, 2019
S. Korea doubles contribution to Green Climate Fund to $200m

South Korea and 26 other countries have pledged to provide the Green Climate Fund with $9.7 billion over the next four years, the fund said Oct. 28. Korea doubled its contribution to $200 million at the fund‘s first replenishment conference in Paris last week. It previously contributed $100 mi...
October 28, 2019
S. Korea to power public ships with clean energy

South Korea’s Ocean Ministry said Oct. 28 it will gradually replace 140 government ships with those utilizing clean energy sources by 2030 to meet tighter regulations. “The project will help Korea to reduce fine dust, greenhouse gas and air pollution, and contribute in developing technologies...
October 27, 2019
South Korea’s exports to turn around in 2020 Q1: report

South Korea’s declining exports are predicted to turn around in the first quarter of next year on the back of rising demand for chips and recovery in the global economy, a trade association said on Oct. 27. “The nation’s exports are expected to bottom out this month and turn positive from the f...
October 24, 2019
S. Korea’s economic growth projected to hit 10-year low

South Korea’s economic growth will likely slow down further this year, possibly falling below the 2 percent mark for the first time in 10 years, analysts said Oct. 24. The gloomy outlook comes after the Bank of Korea said the local economy grew 0.4 percent from three months earlier in the thir...
October 22, 2019
FTC chief vows to apply law fairly to foreign firms

The head of South Korea’s antitrust regulator said Oct. 22 she will ensure the country’s law is applied fairly against foreign companies accused of violations. Fair Trade Commission Chairperson Joh Sung-wook made the comments in a meeting with business leaders at the headquarters of the Korea...
October 22, 2019
PM hopes trip will help improve Seoul-Tokyo ties

Prime Minister Lee Nak-yon said on Oct. 22 that his trip to Japan will help South Korea and Japan take a step forward in mending their frayed ties over the issue of Tokyo’s wartime use of forced labor. Earlier in the day, Lee arrived in Tokyo for a three-day trip to attend the Japanese emperor...

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