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The Korea Herald

Economy

September 01, 2019
More and more Koreans rely on evolving ready-made meal options

In his bustling city life, Jo Nam-kyu finds that preparing home-cooked meals can be a real struggle, leaving his kitchen nearly idle during weekdays. He and his wife have been working to find alternatives, and nowadays, they visit a discount store every two weeks to shop for ready-made meals, rang...
September 01, 2019
Removal of Japan from whitelist to take effect this month

South Korea is on track toward excluding Japan from its export control whitelist this month, in a tit-for-tat response to Tokyo’s earlier decision to remove Seoul from its list of preferred trading partners. According to the Industry Ministry on Sunday, the government is set to complete its publ...
August 25, 2019
Does 52-hour workweek rule create more jobs?

Despite the government’s efforts to create more jobs by mandating companies to cut their employees’ maximum weekly work hours to 52 hours, it has not contributed to creating more jobs, a report claimed on Aug. 25. According to a survey by corporate research firm CEO Score, those who adopted the ...
August 25, 2019
BOK likely to freeze base interest rate amid Japan factor, uncertainties

With growing economic uncertainties and ongoing trade tensions with Japan, the South Korean central bank is highly likely to freeze the base interest rate at an upcoming meeting of its Monetary Policy Board, market analysts said on Aug 25. The Bank of Korea is slated to hold its rate-setting Monet...
August 18, 2019
Signs of global recession haunt S. Korean economy

A shadow of global recession looms over key economies as major markets have been dealing with some of their worst days in recent weeks. This is sparking concerns that chances of recession may also be growing on home turf, in South Korea. Last week, the yields on US 10-year Treasurys fell below two...
August 11, 2019
Real estate market tense ahead of upcoming price regulations

Seoul’s housing market was tense on Aug. 11, a day ahead of a scheduled government announcement about a price ceiling system for apartment complexes in key bubble-prone areas. The measures, intended to stabilize the overheated real estate market and discourage speculation, come amid economic unc...
August 08, 2019
Japan allows first photoresist export to S. Korea since implementation of stricter controls: official

Japan has approved the first export of a key semiconductor material to South Korea since it tightened related restrictions last month, Seoul‘s prime minister said on Aug. 8. Japan’s trade ministry has permitted the shipment of extreme ultraviolet (EUV) photoresist, one of three items first affec...
August 07, 2019
Japan promulgates bill taking S. Korea off export whitelist

Japan on Aug. 7 promulgated a revised bill striking South Korea off its list of trusted trading partners, following last week’s Cabinet approval of the measure amid an escalating row with Seoul. The promulgation, by Japan’s Ministry of Economy, Trade and Industry, will put the bill into effec...
August 07, 2019
Seoul to take preemptive steps to stabilize markets

South Korea will take swift and bold steps if necessary to help stabilize the financial markets, the country‘s finance minister said on Aug. 7, assuring that the country’s economic fundamentals remain strong despite what he called “temporary risks.” In an emergency meeting with other top fi...
August 05, 2019
S. Korea to spend W7.8tr for stable supply of 100 key strategic items

South Korea said Aug. 5 it will spend 7.8 trillion won ($6.50 billion) over the next five years to nurture its materials, parts and equipment sectors and trim its dependence on Japanese imports in the latest move to cope with the neighbor’s economic retaliation. The move to boost research and ...
August 04, 2019
How will import process change with Japan’s whitelist exclusion of Korea?

South Korean manufacturers of cutting-edge electronic components are likely to face increasing costs and burdens in securing high-tech materials and parts from Japan following the neighbor’s decision to remove it from a whitelist of entrusted trade partners. Korean companies that purchase any of ...
August 04, 2019
S. Korea struggles to attain 2% range GDP growth this year

In light of the trade conflict with Japan and other external risks, concerns are mounting that South Korea’s economic growth this year may fall below 2 percent at worst, lower than the range of 2.2-2.5 percent forecast by the government and central bank. The state-run think tank Korea Institute f...
August 04, 2019
S. Korea to expand state budget to cope with Japan’s trade curbs

The ruling party, government and presidential office on Aug. 4 vowed to add at least 1 trillion won ($833 million) to next year’s state budget, in an effort to expand fiscal space amid escalated trade tension with Japan. They also agreed to kick off a task force to promote the manufacturing compe...
July 29, 2019
Seek good valuation in China in the midst of G-2 trade war: experts

The first half of the year was depressing for China’s venture capital industry compared to glorious past years. The number of venture capital deals successfully closed in the first half of this year fell to 1,375 from 2,593 a year prior, while the value of deals declined 66 percent from $59.2 bil...
July 25, 2019
Govt to earmark W1tr in next year’s budget to support makers of chip parts

The government will seek to set aside more than 1 trillion won ($847 million) in next year’s state budget to support companies producing parts and materials used in chips amid Japan’s export curbs, a lawmaker said on July 25. In a related move, the government plans to unveil a set of measures...

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