South Korea and Sweden have signed six memorandums of understandings (MOUs) to expand trade and cooperation in emerging industries, the government said Saturday.The MOUs were signed in line with President Moon Jae-in's visit to Sweden on the last leg of his eight-day Northern Europe trip that al

The number of employed men in their 40s shrank at the fastest pace in 27 years last month, attributable to the declining population and lackluster local manufacturing industry, government data showed Sunday.The number of employed males aged between 40 and 49 stood at 3.83 million in May, shedding 11

South Korean savings banks' total lending has surpassed 60 trillion won (US$50.7 billion) for the first time since 2011, when some savings banks were ordered to close as they grappled with deteriorating asset quality, data showed Friday.The outstanding loans extended by savings banks amounted to

In what could be a drastic shift from his earlier commitment to standing pat, the head of South Korea's central bank on Wednesday hinted at an easing policy as the trade tension between the United States and China underscores the woes of Asia's fourth-largest economy.Bank of Korea Gov. Lee J

South Korea's current account balance was in the red in April, the first deficit in seven years, due to flagging exports and increased dividend transfers, the central bank said Wednesday.The country's current account deficit came to US$660 million in the month, marking a sharp turnaround fro

Air transportation leaders from across the world will gather in Seoul to discuss ways to stay profitable and tackle headwinds facing airlines at the upcoming annual meeting of the International Air Transport Association (IATA) this weekend, the global airlines body said Wednesday.More than 1,000 lea

By Sharofiddin Nazarov, Doctor of Economics, Director of CERSouth Korea is one of the most important economic partners of Uzbekistan. Korean investments to the economy of Uzbekistan today cover such areas as trade, communications, energy, light industry, pharmaceuticals, mining, petrochemicals, elec

South Korean companies' outlook for their business conditions worsened for the upcoming month, central bank data showed Wednesday, amid worries that Asia's fourth-largest economy may face increasing downside risks.The business survey index (BSI) of local businesses came to 73 for June, down

South Korea's finance minister said Thursday that the government will take steps to stabilize the foreign exchange market in case of increased volatility. "We will make efforts to stabilize the market if instability occurs in the foreign exchange market due to an excessive one-sided movement ca

South Korea will take "appropriate" steps to stabilize its financial markets in case of increased volatility, signaling Seoul's possible intervention in the foreign-exchange market.Hong Nam-ki, the minister of economy and finance, said South Korea will strengthen the monitoring of financial ma

Unemployment rate in South Korea's southeastern industrial city of Ulsan rose sharply in the first quarter of the year. The result of such sharp increase was due to the massive corporate restructuring moves.For the period January-March, the unemployment rate in Ulsan stood at 5.3 percent, 1.5 pe

South Korea's jobless rate rose to 4.4 percent in April, government data showed Wednesday, in the latest sign of a weak job market amid an economic slowdown in Asia's fourth-largest economy. The unemployment rate increased 0.3 percentage point from a year earlier, according to the data compi

President Moon Jae-in strongly indicated Tuesday that he would stick to the currenteconomic policy despite controversies, especially over the income-led growth strategy and plans to phase out nuclear energy use."In general, our economy is moving toward success," he said during a speech at a Seoul

South Korea will work with Saudi Arabia to set up a joint nuclear research center for the small-medium reactor market, the science ministry said Tuesday.The agreement came at the bilateral nuclear commission meeting held in Riyadh, andonce administrative negotiations are completed, an agreement can

South Korea will aim to host the country's first World Expo in the southern port city of Busan in 2030 with a budget of 4.9 trillion won (US$4.12 billion), the industry ministrysaid Tuesday.The Ministry of Trade, Industry and Energy will file the application to the Paris-basedBureau Internationa

Lotte Group, South Korea's retail-to-chemicals conglomerate, has been accelerating itsmove to tap deeper into the United States, the world's largest economy, with itscumulative investments reaching some US$4 billion in production facilities and otherareas, industry sources said Tuesday.In it

By Son Da-somChina's video marketing market is growing around various types of mobile video platforms. According to KITA (Korea International Trade Association) on May 7, 2019, driven by the Chinese consumers’ high rates of mobile internet use and video use and popular use of social media, the m

South Korea said Monday that it will take steps to stabilize its financial market if necessary but insisted that U.S. tariff hikes on Chinese products may have only a limited impact on the financial market.Lee Ho-seung, the first vice minister of economy and finance, said that direct effects of the

South Korea's exports fell 6.4 percent in the first 10 days of May from a year earlier mainly due to decreased shipments of semiconductors, customs data showed Monday.The country's exports stood at US$13 billion in the May 1-10 period, compared with $13.9 billion in the same period last year

The head of South Korea's central bank said Friday that uncertainties grew over the prospects for trade talks between the United States and China as U.S. President Donald Trump threatened to follow through on a plan to impose more tariffs on Chinese goods. Bank of Korea (BOK) Gov. Lee Ju