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

Hyundai Oilbank Co., a major South Korean refiner, plans to import 2 million barrels of Iranian condensate this month, a person familiar with the issue said Monday. It would be Hyundai Oilbank's first imports of ultralight crude since September, two months before the United States imposed the mo

The state-run Korea Electric Power Corp. (KEPCO), which is currently seeking to open its own university in South Jeolla Province in 2022, is expected to face hurdles in opening on time amid financial and administrative challenges, industry watchers said Monday.In January, KEPCO selected the Booyoung

The contribution of government spending and investment to South Korea's economic growth reached a nearly 20-year high in the fourth quarter of last year amid sluggish private consumption and production, central bank data showed Sunday. According to the latest data by the Bank of Korea (BOK), Sou

South Korea's exports moved down 5.8 percent in January from a year earlier, government data showed Friday, due mainly to weaker performances by chips and petrochemical goods.Outbound shipments came to US$46.3 billion for January, down from $49.2 billion posted a year earlier, according to the d

South Korea's central bank said Friday that it will not let down its guard during the five-day Lunar New Year holiday, amid lingering financial uncertainties.The Bank of Korea (BOK) said rising uncertainties in global financial markets may affect the South Korean market, which is scheduled to be

South Korea's industrial output fell 0.6 percent in December from a month earlier due in part to decreased exports of cars and semiconductors, government data showed on Jan. 31, 2019.The data compiled by Statistics Korea showed semiconductor output fell 4.5 percent in December from a month earli

The state-run Korea Trade-Investment Promotion Agency (KOTRA) has decided to withdraw from Venezuela amid the escalating political turmoil, sources said on Jan. 30, 2019.According to official insiders, KOTRA plans to shut down its Caracas-based office March 1. Its business center located in Panama w

The Bank of Korea (BOK) on Thursday cut its earlier economic growth forecast of the South Korean economy to 2.6 percent for 2019 amid signs of a global slowdown and heightening economic uncertainties over trade tensions.The projection is 0.1 percentage point lower than its growth outlook made in Oct

The government will provide financial support for overseas construction and plant orders to shore up exports that are showing signs of weakening, Finance Minister Hong Nam-ki said Wednesday. Global trade disputes and China's economic slowdown are casting a shadow on South Korea's export-reli

The South Korean economy grew at the slowest pace in six years in 2018 as shrinking corporate investment weighed heavily on Asia's fourth-largest economy, central bank data showed Tuesday. The nation's economy expanded 2.7 percent on-year in 2018, slowing down from 3.1 percent the previous y

South Korea's state-run pension fund suffered valuation losses from its investment in the country's 10 major conglomerates due to declines in their stocks, data showed Sunday. The National Pension Service (NPS) held an average 7.76 percent stake in the conglomerates at the end of 2018, compa

South Korea's venture minister said Thursday that the government is committed to expanding support for startups, which eventually would jack up employment.Venture investment in South Korea is estimated at 3.4 trillion won (US$3.04 billion) last year, which marks a hike of over 40 percent from a

South Korea's trade ministry said Wednesday it will speed up efforts to clinch a free-trade agreement (FTA) with Britain amid rising woes over the country's move toward exiting the European Union without an agreement on matters such as customs. The Ministry of Trade, Industry and Energy said

SEOUL, Jan. 11 (Yonhap) -- Major foreign investment banks (IBs) have forecast the U.S. central bank will freeze its key interest rate in the first quarter amid signs of an economic slowdown, a report said Friday.For the remainder of the year, the U.S. Federal Reserve is widely forecast to carry out

World Bank Group President Jim Yong Kim announced his resignation Monday with nearly three years left in his term, but didn't state the reason for his decision.The Korean-American said on Twitter that he will be stepping down Feb. 1 after serving in the position since 2012."It's been the gr

South Korea's exports hit an all-time high last year on brisk sales of memory chips and petrochemical goods, government data showed Tuesday.Outbound shipments came to $605.5 billion for 2018, up 5.5 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry an

South Korea's consumer prices rose 1.3 percent in December from a year earlier on gains in agricultural and industrial goods and the service sector, government data showed Monday. The reading represents a decline from the previous month's 2 percent on-year gain, according to the data

South Korea's exports edged up 1 percent in the first 20 days of December from a year earlier, customs data showed Friday, despite lingering external uncertainties.The country's outbound shipments reached US$31.3 billion in the Dec. 1-20 period due to a rise in outbound shipments of cars and