The South Korean economy expanded 0.4 percent from three months earlier in the third quarter as earlier estimated, the Bank of Korea (BOK) said in its latest revision released Tuesday.The third quarter growth estimate remained unchanged from preliminary figures released in late October despite sligh

South Korea's consumer prices rose 0.2 percent on-year in November, marking the first gain in four months, the statistics agency said Monday.The consumer price index stood at 104.87 in November, compared with 104.71 for the same month last year, Statistics Korea said in a statement.The November

South Korea's consumer prices rose 0.2 percent on-year in November, marking the first gain in four months, the statistics agency said Monday.The consumer price index stood at 104.87 in November, compared with 104.71 for the same month last year, Statistics Korea said in a statement.The November

The growth of South Korea's private consumption is expected to hit a six-year low in 2019, as consumer sentiment remained downbeat over a prolonged trade war between the United States and China, according to the Bank of Korea (BOK) on Sunday.The BOK predicted last week that private consumption m

South Korea's exports slipped 14.3 percent in November from a year earlier to extend their slump to a 12th consecutive month, data showed Sunday, amid the protracted trade row between the United States and China, and an extended slump in chip prices.Outbound shipments reached US$44.1 billion las

South Korea's finance minister said Thursday that the government will spare no effort for the completion of a multi-billion-dollar project to build Asia's second-largest theme park in the country.South Korean retail giant Shinsegae is set to break ground for the 4.57 trillion-won (US$3.8 bil

South Korea's non-life insurers suffered a near 28 percent tumble in third-quarter earnings due to a rise in their loss ratio, data showed Tuesday.The combined net profit of nine non-life insurance firms came to 502.1 billion won (US$431 million) in the July-September period, down 27.8 percent f

BMW Group Korea said Sunday it will strengthen its electrified vehicle lineup to revive sales in line with the German automotive group's broad environment-friendly vehicle strategy.BMW has recently announced its plan to release 25 zero-emission and less-emitting vehicles by 2025.

A consortium led by construction firm HDC Hyundai Development Co. has been named as the preferred bidder to acquire Asiana Airlines Inc., Kumho Industrial Co. said Tuesday.Parent Kumho Asiana Group put Asiana Airlines up for sale in April and has been aiming to sell a 31 percent stake in the airline

South Korea's finance minister said Monday that the government will make efforts to achieve economic growth of more than 2.3 percent next year.Hong Nam-ki made the pledge citing recent improved growth forecasts by the International Monetary Fund (IMF) and the Organization for Economic Cooperatio

South Korea's exports fell 20.8 percent in the first 10 days of November mainly due to decreased shipments of semiconductors and ships, customs data showed Monday.The country's exports stood at US$11.9 billion in the November 1-10 period, compared with $15 billion in the same period last yea

A consortium led by cosmetics-to-airline conglomerate Aekyung Group and two other consortia have submitted final bids for Asiana Airlines Inc., the companies said Thursday.The Aekyung-Stone Bridge Capital consortium, the consortium of Hyundai Development Co. (HDC) and Mirae Asset Daewoo and the cons

South Korea and the United States agreed Wednesday to forge a broader strategic economic partnership in line with their regional policy initiatives for Southeast Asia and the Indo-Pacific region, the foreign ministry said.The two sides reached the agreement during the fourth session of the Senior Ec

South Korea's current account surplus reached an 11-month high in September, although its amount narrowed from a year earlier due to slowing exports, central bank data showed Wednesday.The country's current account surplus reached US$7.48 billion in September, compared with a surplus of $11.

ASEAN member states, South Korea and five other countries reached a deal on a mega Asia-Pacific trade pact, known as the Regional Comprehensive Economic Partnership (RCEP), Monday, effectively concluding yearslong negotiations.The agreement involved the whole 10-member ASEAN bloc and its dialogue pa

The number of South Koreans staying at hotels and tourist inns in Japan halved in August from a year earlier, data showed Thursday, amid boycott campaign against Japanese products stemming from bitter feuds over trade and history. The Japan Tourism Agency said the number of South Koreans at such acc

Samsung Electronics Co. said Thursday its net profit more than halved in the third quarter from a year earlier due to weak memory chip prices.The net profit of the world's largest memory chip and smartphone maker tumbled 52.3 percent to 6.3 trillion won (US$5.4 billion) in the July-September per

South Korea's transport ministry said Monday it will permit Fly Gangwon, the country's seventh low-cost carrier, to begin operations next month, a move that could further heat up competition in South Korea's aviation market.An air operator certificate to be issued to Fly Gangwon on Tuesd

The issuance of asset-backed securities (ABSs) in South Korea slipped 11.9 percent on-year in the third quarter because of a decline in sales of government-led mortgage funds, data showed Monday.The value of ABSs issues stood at 9.6 trillion won (US$8.1 billion) during the July-September period, dow

South Korea's economic growth will likely slow down further this year, possibly falling below the 2 percent mark for the first time in 10 years, analysts said Thursday.The gloomy outlook comes after the Bank of Korea (BOK) said the local economy grew 0.4 percent from three months earlier in the