South Korea will step up efforts to bolster its economy as it seeks to contain the economic fallout from the spread of a new coronavirus, Finance Minister Hong Nam-ki said Monday.Hong said the government will come up with additional measures in coming weeks to help local firms cushion the economic i

- South Korean airlines said Monday they will maintain the suspension of some flights to China until the end of March as people opt not to travel to the neighboring country amid the spreading coronavirus outbreak.The country's two full-service carriers -- Korean Air Lines Co. and Asiana Airlines Inc

South Korea will provide 2 trillion won (US$1.7 billion) in financial support to small merchants who are expected to take a hit from the rapid spread of the novel coronavirus, Finance Minister Hong Nam-ki said Friday.South Korea also plans to begin consultations with China's local governments to ask

South Korea will spare no efforts to minimize the economic impact of the rapidly spreading new coronavirus, Finance Minister Hong Nam-ki said Wednesday, amid rising concerns about the economic fallout.Hong described the economic impact of the virus as "grave," adding that "all measures" will be prep

South Korea's consumer prices rose 1.5 percent on-year in January, marking the fastest gain in 13 months, the statistics agency said Tuesday.The country's inflation also rose 0.6 percent on-month in January on the back of increased prices of agricultural and industrial products, according to Statist

South Korea's stock market has plummeted nearly 6 percent since the first new coronavirus case was confirmed in the country, data showed Sunday, as the deadly virus is increasingly feared to pose downside risks to the global financial market and economic growth.The benchmark Korea Composite Stock Pr

The rapid spread of the novel coronavirus is expected to weigh on South Korea's economy unless the epidemic is contained swiftly, Finance Minister Hong Nam-ki said Monday.The coronavirus epidemic has had a limited impact on the Korean economy so far, but it is difficult to determine how the virus wi

Hyundai Wia Corp., a parts unit of Hyundai Motor Group, said Wednesday it has clinched 700 billion won (US$595 million) worth of parts supply deals from carmakers in Europe and the United States.Hyundai Wia will supply constant velocity joint (C.V. joint) components to premium carmakers in Europe an

South Korea said Tuesday it would spare no efforts to tackle with potential economic fallout from the Wuhan coronavirus, while vowing to take steps, if necessary, to minimize any negative impact."We are closely examining the impact of the spread (of the virus) in China on its consumption and product

New Chinese Ambassador to South Korea Xing Haiming will arrive in Seoul next week, a diplomatic source said Wednesday, as the two countries seek to improve their ties once strained by the installation of a U.S. missile defense system here.Xing, a former Chinese ambassador to Mongolia, is set to arri

South Korea's financial regulator said that it will open the country's first financial data exchange in March, a move that could boost the data-driven economy.The exchange will serve as a key platform for buyers and sellers of financial, telecommunication and corporate data. It is meant to facilitat

South Korea's agricultural output is expected to stand steady this year, although farmers' income is poised to gather ground on increased state subsidies, a report showed Tuesday.The country's overall agricultural output is expected to reach 50.4 trillion won (US$43.4 billion) this year, standing ne

SEOUL, Jan. 12 (Yonhap) -- Samsung Electronics Co., the world's largest memory chipmaker, saw its market cap vault 10 notches over the past year to rank 18th worldwide, as the South Korean tech giant has continued to build up gains on a rosy earnings outlook, data showed Sunday.Samsung's market cap

South Korea's current account surplus grew from a year earlier in November as its service account deficit narrowed, while its primary income account surplus expanded, central bank data showed Tuesday.The country's current account surplus came to US$5.97 billion in the month, up $840 million from the

South Korea's consumer prices slowed to a record low in 2019 amid a slowdown in Asia's fourth-largest economy dogged by a protracted slump in exports and weak domestic demand, government data showed Tuesday.According to the data compiled by Statistics Korea, the country's inflation gaine

South Korea will implement its economic policy next year to invigorate investment and create more jobs, while laying the foundation to tackle the nation's chronic low birthrate and maintain decent economic expansion over the mid-to-long haul, the finance ministry said Thursday.The economy is exp

Discloses Korea International Trade Association Samsung Display to inject $11 billion for upscaling next-generation TV display capacity According to KITA, Samsung Display will spend 13.1 trillion won ($11 billion) by 2025 in display operation to ensure leadership in next-generation panel market, wit

South Korea's jobless rate fell to 3.1 percent in November, and job additions came to over 330,000, data showed Wednesday.The unemployment rate decreased 0.1 percentage point on-year, and the number of employed people reached 27.5 million in November, according to the data compiled by Statistics

Former Daewoo Group Chairman Kim Woo-choong died late Monday at age 82, an organization affiliated with the now-defunct conglomerate said. Kim, the founder of the company, died of a chronic disease at a hospital in Suwon, just south of Seoul, at 11:50 p.m., according to Daewoosky Institute, which re

Home-backed loans extended by South Korea's five major lenders increased at a slower pace in November compared with the previous month, industry data showed Tuesday, as the government applies stricter lending rules.The outstanding home-backed loans extended by KB Kookmin Bank, Shinhan Bank, Woor