South Korea's new finance minister pledged on Dec. 12, 2018 to front-load next year's budget to help boost Asia's fourth-largest economy.Hong Nam-ki, the minister of economy and finance, said the move is meant to ensure that planned investments can be quickly carried out.

The United Nations Security Council on Friday granted a sanctions exemption to enable the two Koreas to conduct a survey on reconnecting railways across their border, a diplomatic source said.The exemption was approved by consensus by the council's North Korea sanctions committee, paving the way

A fire broke out at a state-run nuclear energy research institute in central South Korea, but there was no risk of a radiation leak, the institute said on Nov. 19, 2018.The fire broke out at a laboratory in the Korea Atomic Energy Research Institute in Daejeon, 160 kilometers south of Seoul, as of 2

South Korea and China held talks on Nov. 20, 2018 to discuss ways to ease trade disputes and expand investment opportunities between the two nations, Seoul's trade ministry said.Senior trade officials held the 18th bilateral trade remedy meeting in Beijing to share opinions on the latest trade i

South Korea's producer prices backtracked for the first time in nearly one year in October as farm production recovered in the fall season, central bank data showed on Nov. 20, 2018.The producer price index, a barometer of future consumer inflation, reached 105.41 last month, down 0.4 percent fr

South Korea's jobless rate rose slightly in October due to a fall in employment in the retail and hospitality sectors, with poorer-than-expected job creation showing no signs of a letup, government data showed on November 14, 2018.The unemployment rate stood at 3.5 percent last month, up 0.3 per

South Korea's tax revenue was tallied at 20.5 trillion won (US$18 billion) in September, up 2.9 trillion won from a year earlier, the finance ministry said on Nov. 13, 2018.Income tax revenue amounted to 3.7 trillion won in September, up 0.5 trillion won from a year earlier, due to a rise in wag

Bank of Korea (BOK) Gov. Lee Ju-yeol has been elected to the board of the Bank of International Settlement (BIS), the central bank in South Korea said on Nov. 13, 2018.At the BIS board of directors meeting in Basel, Switzerland, on Nov. 11, 2018 (local time), Lee became the 11th member of the 18-per

South Korea's government will focus all of its efforts to improve people's livelihoods and push forward timely structural reforms that can back up income-led growth goals, the finance minister nominee said on Nov. 11, 2018. In a meeting with reporters just after he was named the country'

CEOs of companies affiliated with South Korea's five leading business groups are more than 58 years old on average, a corporate tracker said on Nov. 12, 2018, stoking speculation over a possible generational change during their year-end C-suite reshuffles.The average age of 122 CEOs at the top f

South Korea's online malls have raked in sales during massive discount campaigns held well in advance of Black Friday in the United States, according to industry insiders on Nov. 11, 2018. Major online malls and market places presented door-busting deals in early November to entice consumers eve

The number of nonwage workers in South Korea fell this year from two years earlier amid a protracted economic slump, government data showed on Nov. 7, 2018. There were 6.86 million unsalaried workers, such as self-employed people, as of August, down 0.5 percent, or 36,000, from the same period in 20

A member of the country's monetary policy board said on Nov. 7, 2018 that strong Korean won-driven downside inflation pressure has been diminishing throughout the year, driving a slight change in the country's yearslong low consumer price trend. "The Korean won against the U.S. dollar has b

The government's tax cut on fuel products drove down the cost of fuel on the first day it took effect, an oil prices information service said on Nov. 6, 2018. The Ministry of Strategy and Finance said last week it would temporarily lower fuel taxes by 15 percent for six months, reducing the tax

The growth of loans to South Korea's small businesses and retailers poses risks for the quality of local lenders' assets, a global ratings agency said on Nov. 5, 2018."Weakening consumer sentiment and rising unemployment could affect the performance of these businesses, and accordingly the

Sales of Hyundai Motor Co.'s premium Genesis marque have surpassed a cumulative 200,000 units three years after its official launch, industry data showed on Nov. 4, 2018.According to the data, the total sales of Genesis vehicles reached 206,882 as of the end of October, touching the 200,000 mark

South Korea's exports of its traditional chicken soup to China shot up in 2017 from three years earlier thanks to the dish's growing popularity in the world's most populous nation, data showed on Nov. 5, 2018.Exports of chicken soup, called "samgyetang" here, to China came to US$100,33

South Korea's chief economic policymaker expressed hopes on Nov. 1, 2018 that reduced geopolitical risks and South Korea's improved economic conditions would help raise the country's ratings.In a meeting with a delegation from global rating agency Fitch Ratings earlier in the day, Financ

South Korea's central bank chief said Friday that the local financial market will likely face wider volatility in the coming months due to lingering uncertainties abroad.With global financial markets, including Wall Street suffering a stock rout, the benchmark Korea Composite Stock Price Index n

South Korea's consumer price growth accelerated in October, hitting the highest in 13 months, on a sharp rise in prices for agricultural goods and oil-related products, government data showed on Nov. 1, 2018.The country's consumer price index climbed 2 percent last month from a year earlier,