South Korea will step up its efforts this week to fend off a move by Japan to impose additional trade restrictions against Seoul, according to government officials on Sunday, amid a growing trade dispute that could also disrupt global supplies of semiconductors and smartphones.Diplomatic and economi

South Korea's economy is estimated to have grown 1 percent in the second quarter, shifting from a contraction of 0.4 percent the previous quarter, financial industry sources said Sunday. The Bank of Korea is set to unveil its growth estimate for the April-June period this week. Earlier, the cent

South Korea will step up its efforts this week to fend off a move by Japan to impose additional trade restrictions against Seoul, according to government officials on Sunday, amid a growing trade dispute that could also disrupt global supplies of semiconductors and smartphones. Diplomatic and econom

Major memory chip prices have jumped 25 percent in the past two weeks following Japan's restrictions on exports of high-tech materials to South Korea, industry data showed Saturday.The prices of dynamic random-access memory (DRAM) chips jumped by up to 25 percent to US$3,736 on Friday from $3,03

The Bank of Korea (BOK) cut its policy rate by a quarter percentage point to 1.50 percent Thursday in a surprise move to help spur growth as a trade feud with Japan adds more uncertainty to Asia's fourth-largest economy already dogged by a decline in exports and facility investment. The rate cut

It may seem to be a contrarian ploy for a gas station to provide an electric vehicle charging service, but local refiners have been quick in adding such services in an attempt to capitalize on the fast-growing battery-powered car segment. Three of four major South Korean refiners are already startin

A group of major tech companies and financial institutions have joined hands to launch a blockchain-based digital identity platform available on smartphones to provide a trustworthy and secure solution, they said Sunday. Samsung Electronics Co., three mobile carriers -- SK Telecom Co.

South Korea's trade ministry said Thursday it will hold working-level talks with its Japanese counterpart this week to discuss Tokyo's latest trade restrictions on key industrial materials. The talks in Tokyo on Friday will be the first of their kind since Japan implemented strict regulation

South Korea on Tuesday rebutted the possibility that a key Japanese industrial material has been shipped to North Korea in breach of international sanctions against Pyongyang as alleged by Japan. Tokyo has claimed that its strict regulations of shipments of key materials to South Korea are due in pa

South Korea maintained its position at 12th in the global gross domestic product (GDP) rankings last year, the World Bank said Sunday. In 2018, Korea posted US$1.619 trillion in terms of nominal GDP, little changed from the previous year, data from the World Bank showed. Korea ranked 14th in the Wor

Two top South Korean economic policymakers met with business leaders Sunday to discuss ways to cope with Japan's export restrictions, Cheong Wa Dae has confirmed. Economy and Finance Minister Hong Nam-ki and Kim Sang-jo, chief of staff to President Moon Jae-in for policy, had consultations with

South Korea's finance minister said Friday that he can meet with top executives of Samsung Group and four other major conglomerates to deal with Japan's export restrictions."There seems to be no reason not to meet with (them)," Hong Nam-ki, the minister of economy and finance, told reporte

South Korea's current account balanced turned to black in May, one month after the country posted its first deficit in seven years amid sluggish exports, central bank data showed Thursday. The country's current account surplus came to US$4.95 billion in the month, marking a turnaround from a

The agreement will allow Samsung Bioepis to distribute, market and sell the biosimilar Ontruzant in the United States, according to the source.Ontruzant, the breast cancer treatment biosimilar referencing Roche's Herceptin, won approval from the U.S. Food and Drug Administration earlier this yea

South Korea's trade minister said Monday the government plans to file a complaint with the World Trade Organization (WTO) over Japan's decision to tighten the rules for exports of semiconductor and display materials to Seoul, amid a simmering diplomatic row over wartime force labor. "South

South Korea's trade minister said Monday the government plans to file a complaint with the World Trade Organization (WTO) over Japan's decision to tighten the rules for exports of semiconductor and display materials to Seoul, amid a simmering diplomatic row over wartime force labor. "South

Hyundai Motor Co., South Korea's leading carmaker, said Wednesday it has signed an initial pact with Saudi Arabia's national oil company, Saudi Aramco, to cooperate on hydrogen energy.On Tuesday, Hyundai Motor Executive Vice Chairman Chung Euisun signed a memorandum of understanding with Ahm

General Motors Co.'s recent facility investment in South Korea and plans to launch new vehicles show the U.S. carmaker's strong commitment in the market, a GM executive said Tuesday.Early this year, the Detroit carmaker began to build a paint shop at the Changwon plant, one of its three car

South Korea is considering extending a temporary tax cut on purchases of all-electric and hydrogen fuel-cell electric cars, the finance minister said Tuesday, in the latest move to help eco-friendly cars expand their presence here.Since 2017, the government has waived a 5 percent special excise tax

South Korea's finance minister on Monday asked heads of major banks to increase lending to small and medium-sized firms as part of efforts to boost the economy.Hong Nam-ki, the minister of economy and finance, said it would be good if banks extend loans to smaller firms by taking into account th