South Korea's imports of Iranian crude oil more than quadrupled in February from a month ago, nearing a level before U.S. sanctions on Tehran, government data showed Tuesday. Asia's fourth-largest economy imported US$476 million worth of crude from the Middle Eastern country last month, acco

Corporate retirement pension funds managed by South Korea's financial firms posted poor returns in 2018 amid low interest rates, market data showed Monday. Most of those retirement pension funds saw their yields hover below the 2 percent mark last year, with the best performer chalking up a retu

The head of the financial watchdog said Thursday he will continue to make efforts to keep household debt under control and make the country's financial system resilient against external shocks. Yoon Suk-heun, governor of the Financial Supervisory Service (FSS), told reporters that the FSS will p

South Korea's jobless rate rose to 4.7 percent in February despite the increased pace of hiring, government data showed Wednesday, in the latest sign of an economic slowdown in Asia's fourth-largest economy. The unemployment rate marked the highest level for any February since 2017, when the

South Korea's monthly current account surplus edged up in January from a year earlier on a decreased deficit in the services account despite sluggish goods exports, central bank data showed Friday. The country's current account surplus came to US$2.77 billion in January, slightly up from $2.

China's coal demand is expected to fall at a snail's pace over the next 20 years due to the country's preference for the cheap fossil fuel, a report said on Mar. 7, 2019.China's demand for coal is projected to reach 2.39 billion tons of coal equivalent (TCE) in 2040, about 13 percent

South Korea's foreign currency holdings fell slightly for the first time in four months in February on a strong U.S. dollar trend, central bank data showed on Mar. 6, 2019.The total value of the country's foreign exchange reserves came to US$404.67 billion as of end-February, down $840 milli

The South Korean economy grew by a six-year low of 2.7 percent last year due to sluggish corporate investment, but its per capita income surpassed US$30,000 for the first time, preliminary data by the central bank showed Tuesday. The revised 2018 reading by the Bank of Korea (BOK) is on par with its

South Korea said Monday it is maintaining round-the-clock tabs of financial markets and set to take necessary steps in case of volatility.The move came four days after the leaders of North Korea and the United States ended their high-stakes nuclear summit in Hanoi with no agreements being reached.St

South Korean shares are expected to trade in a limited range next week, with investors set to take a wait-and-see stance on key economic indexes, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,195.44 on Friday, down 1.57 percent from last week's close.

South Korea's exports moved down 11.1 percent in February from a year earlier, government data showed Friday, due to the falling global prices of chips coupled with the slowing Chinese economy.Outbound shipments came to US$39.56 billion for last month, down from the $44.52 billion posted a year

South Korean stocks closed lower on Feb. 28, 2019 following uncertainties over the U.S.-North Korea summit, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) plunged 39.35 points, or 1.76 percent, to 2,195.44. Trading volume was

Banks have agreed to fully open their payment systems to financial technology firms, the head of the financial regulator said Monday, in a move that will provide a level playing field for new players and increase competition in the financial industry. Choi Jong-ku, chairman of the Financial Services

South Kora's producer prices fell to a 12-month low in January on falling crude oil prices, central bank data showed Friday. The producer price index, a barometer of future consumer inflation, reached 103.75 last month, down 0.2 percent from a month earlier, according to the preliminary data fro

The price of popular dishes rose about 8 percent over a one-year period, the Korea Consumer Agency said on Feb. 21, 2019.Posted on the agency's price information site, the list of eight dishes measured between January of last and this year showed price increases for seven. "Gimbap," a

South Korea's finance minister said Thursday that Seoul will push for talks with Britain on forging a bilateral free trade deal, citing London's imminent departure from the European Union.The comments by Hong Nam-ki, the minister of economy and finance, underscored South Korea's efforts

South Korea's monthly current account surplus hit an eight-month low in December on slowing exports, central bank data showed Friday.The country's current account surplus came to US$4.82 billion in December, slightly up from $4.49 billion a year earlier, according to the preliminary data fro

South Korea and Russia on Feb. 14, 2019 inked an action plan on a wide range of areas in the latest move to boost bilateral cooperation, the government here said.The plan on "nine bridges" was signed between Hong Nam-ki, the minister of economy and finance, and Russian Deputy Prime Minister Yuri T

South Korea's jobless rate rose to 4.5 percent in January as the pace of hiring slowed, government data showed on Feb. 13, 2019, in the latest sign of an economic slowdown in Asia's fourth-largest economy.The unemployment rate marked the highest level for any January since 2010, when the cor

South Korean exports are forecast to decline in 2019, as outbound shipments contracted for two months in a row, economic organizations and observers said on Feb. 6, 2019.The poor export showings in December and January marked the first time in 27 months that shipments have fallen in consecutive mont