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The Korea Herald

Economy

October 21, 2019
Robert Walters Korea head offers tips for job seekers in startups

Duncan Harrison, country manager of Robert Walters Korea, the Seoul branch of the London-based recruiting firm, shared some tips for job seekers who are hoping to enter the startup industry. The job recruitment company entered the Korean market in 2010 and has been focusing on matching Korean bili...
October 16, 2019
BOK slashes base rate to record low 1.25%

The Bank of Korea on Oct. 16 slashed its policy rate by a quarter percentage point to 1.25 percent amid a series of economic headwinds facing the economy, including low inflation and a steady decline in exports. The rate reduction marks the second of its kind in three months. The reduced rate m...
October 10, 2019
FDI pledges to S. Korea up 4.8% in Q3

Foreign direct investment pledged to South Korea in the third quarter of 2019 moved up 4.8 percent from a year earlier, data showed Oct. 10. The country received $3.61 billion worth of FDI commitments over the July-September period, according to the Ministry of Trade, Industry and Energy. It ma...
October 06, 2019
S. Korea sees steepest drop in exports among key economies

South Korea marked the steepest drop in export volume so far this year among the world’s top 10 exporters, data showed. Korea’s export slowdown was especially noticeable in July, due partly to the slowdown in overall world trade volume and the drop in prices of semiconductors and petroleum produ...
October 02, 2019
Japan OKs 7 shipments of industrial materials

Japan has approved only seven shipments of sensitive industrial materials under restriction to South Korea since its implemented export curbs in July, Seoul’s trade minister said Oct. 2. The neighboring country abruptly adopted strict regulations on Korea-bound exports of three industrial item...
September 30, 2019
S. Korea, UK ink MOU to establish economic dialogue

South Korea and the UK signed a memorandum of understanding Sept. 30 to launch a vice-ministerial consultative body aimed at strengthening economic cooperation after Brexit. Second Vice Foreign Minister Lee Tae-ho and UK’s Minister for Asia and the Pacific Heather Wheeler inked the MOU on the ...
September 29, 2019
S. Korea’s wealthy pick real estate as top long-term investment choice

South Korea’s wealthy are picking real estate as their best long-term investment option amid the widespread bearish sentiments, a report released by a major financial group showed on Sept. 29. The report, based on a survey conducted by a think tank under KB Financial Group, involved 400 South Kor...
September 22, 2019
KOTRA forum to promote Korea-India business cooperation

Trade expos, investment sessions, job fairs to be held both in India and in Korea this week The state-run Korea Trade-Investment Promotion Agency said Sept. 22 it will be holding an extensive Korea-India business forum this week, in line with Seoul’s initiative to expand beyond its conventional t...
September 22, 2019
Eximbank runs soup kitchen during holiday season

The Export-Import Bank of Korea has been consistently engaging in community welfare, such as through the Hope Seed volunteer program of a soup kitchen earlier this month near Seoul Station, according to the bank on Sept. 22. The soup kitchen was open for some 300 homeless to provide hearty meals a...
September 22, 2019
G-7 loses prestige amid growing nationalism

Raison d’etre questioned of once top-tier economic platform, but Japan seeks best use of membership The liberal world order, or at least the belief that it could be sustained, has lasted for much of the 20th century, but is likely to fade away amid the rise of nationalism and protectionism across...
September 16, 2019
US-Japan FTA to hurt S. Korea’s trade: report

South Korea is expected to experience a drop in its trade surplus if the United States and Japan successfully clinch a free trade agreement, a think tank said Sept. 16. Washington and Tokyo started their FTA negotiations in April, with the two anticipated to come up with significant progress so...
September 15, 2019
S. Korea’s tax burden to grow next year

South Korea’s tax burden per capita will stand at an estimated 7.5 million won ($6,277.94) next year, slightly up from this year, and is poised to grow through 2023, according to data released by the government Sunday. The data comes amid growing concerns about a heavy tax burden, despite the gov...
September 15, 2019
S. Korea set to exclude Japan from whitelist this week

South Korea is set to exclude Japan from its export control whitelist this week in response to Tokyo’s earlier decision to remove Seoul as a preferred trading partner and impose tighter controls on exports of high-tech materials that Korean tech firms need, officials said Sept. 15. Since the Aug....
September 10, 2019
Korea to add 1,200 hydrogen charging stations by 2040

South Korea’s Industry Ministry said Sept. 10 it plans to install some 1,200 hydrogen charging stations across the country by 2040 in line with its vision to utilize hydrogen as the main source of energy. In a bid to promote the awareness of such a hydrogen charging station, the ministry held ...
September 08, 2019
[INTERVIEW] Orsted sees market potential in Korean offshore wind power

Denmark’s state-run energy company Orsted sees high potential in the Korean offshore wind power market, intending to build long-term, sustainable relationships with the Korean government and companies. “Korea has a high potential in the offshore wind power market, given that the nation is a peni...

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