South Korea's chief economic policymaker on Wednesday called on the National Assembly to swiftly pass the 6.7 trillion-won (US$5.8 billion) extra budget bill, as Asia's fourth-largest economy is facing downside risks."The timing and speed are crucial factors of the extra budget," Hong Nam-

South Korea's monthly current account surplus narrowed in March from a year earlier amid slowing exports, central bank data showed Wednesday.The country's current account surplus came to US$4.8 billion in March, down from $5.1 billion a year earlier, according to the preliminary data from th

South Korea's chief economic policymaker said Thursday that the country's economy will likely recover in the second half of this year, but warned that this year's export growth may be lower than expected on lackluster global demand. South Korea's export-reliant economy contracted an

The head of South Korea's central bank held out the prospect on Wednesday that the country's economy could improve in the second quarter, suggesting that there will not be a rate cut for Asia's fourth-largest economy amid a sharper-than-expected slump in the first quarter. Bank of Korea

South Korea's finance minister on Monday ruled out the possibility that the government would adjust the country's economic growth target despite an economic slowdown. "For now, (the government) has no plan to revise its growth rate forecast," Hong Nam-ki, the minister of economy and financ

South Korea and Britain called for the quick making of a free trade agreement to brace for a possible no-deal Brexit, South Korea's finance ministry said Saturday.The consensus was reached in a meeting between Hong Nam-ki, the minister of economy and finance, and his British counterpart, Philip

Trading of South Korean shares is likely to remain subdued next week amid growing economic concerns, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,179.31 points on Friday, down 1.6 percent from a week ago.Earlier this week, Seoul shares remained flat as i

South Korea's economic conditions will improve from the current dire situation down the road, the central bank chief said Friday, calling for further bold policy efforts to boost economic growth."It is true that the economy is facing hardship as external conditions are not favorable and the pri

The country's top court on Tuesday remanded the case of a former head of telecom giant KT Corp., who was convicted of running a slush fund and embezzlement.The Supreme Court sent the case of Lee Suk-chae back to the Seoul High Court, saying there is a lack of evidence that he created a slush fun

GS Engineering & Construction Co., South Korea's fifth-largest builder in terms of construction capacity, said Friday its first-quarter net profit plunged 38.1 percent from a year earlier due to one-off costs.GS E&C posted a net profit of 130 billion won (US$111 million) in the January-March per

The South Korean economy is estimated to have shrunk in the first three months of the year on a drop in capital investment and falling exports, the Bank of Korea said on April 25, 2019.In the three months ended March 31, the country's gross domestic product (GDP) is projected to have backtracked

Earnings of South Korea's credit finance firms edged up last year from a year earlier, thanks to a steady gain in interest income from household and corporate lending, data showed Tuesday. The combined net income of 97 credit finance companies reached 1.94 trillion won (US$1.69 billion) in 2018,

Hyundai Heavy Industries Holdings Co., the holding company of South Korea's largest shipbuilding conglomerate, said Monday it has signed a US$1.2 billion deal to sell a stake in its oil-refining unit to Saudi Aramco as it is set to take over a smaller local rival.In a regulatory filing, Hyundai

Kumho Asiana Group made a final decision Monday to sell its flagship airline unit as part of its self-rescue plan.The decision to sell Asiana Airlines Co., the country's second-largest carrier, was made at a board of directors meeting of Kumho Industrial Co., Ltd., according to the group.

U.S. Secretary of State Mike Pompeo said on April. 8, 2019 that Washington will decide "in due course" whether to extend waivers for countries seeking to import oil from Iran.South Korea and seven other economies were granted temporary waivers in November after the U.S. withdrew from a 2015 nuclea

The government plans to submit an extra budget bill to the parliament later this month to cope with fine dust and boost the slowing economy and job creation, the finance minister said on Apr. 3, 2019.Hong Nam-ki, the minister of economy and finance, said in a meeting with officials in Seoul that the

South Korea sold a net US$187 million worth of foreign currencies to stabilize the market in the latter half of last year, the central bank said Friday.The Bank of Korea (BOK), which posted the information on its website, said the funds were used to deal with sudden sharp fluctuations that can negat

South Korea's industrial output edged down 1.9 percent in February from a month earlier due in part to decreased production of cars and the service sector, government data showed Friday. The data compiled by Statistics Korea showed the output of cars went down 3.2 percent in February from a mont

South Korea's state pension saw its dividend income from major listed firms jump nearly 20 percent on-year in 2018 as they returned more earnings to shareholders, data showed Monday. The national pension fund is estimated to have received 2.42 trillion won (US$2.13 billion) in 2018 dividends fro

Shinhan Financial Group Inc. said on Mar. 21, 2019 it has decided to break up its partnership with Viva Republica, the operator of the popular mobile payment app Toss, and not bid for South Korea's third Internet-only bank business.The two entities announced last month they would place a bid to