South Korea's economy grew at a slower-than-expected pace in the second quarter from three months earlier on sluggish exports and government spending, the central bank said Tuesday.The country's gross domestic product (GDP) expanded 1 percent in the April-June period, rebounding from a 0.4 p
Banks in South Korea saw their financial health deteriorate slightly in the second quarter of this year as tighter credit-risk rules prompted them to set aside more capital for derivatives, data showed Monday.Under the Basel Committee's so-called standardized approach for measuring counterparty
South Korea is expected to put into effect its decision to drop Japan from a list of trusted trading partners later this month, Seoul's trade ministry said Sunday, amid a growing trade row between the two Asian neighbors.Early this month, the Seoul government decided to revamp the categorization
A sharp drop in prices of key raw materials, such as iron ore, is posing a quandary for South Korean steelmakers who are eager to raise prices of their steel products for the second half of the year, industry observers said Saturday.According to data from Korea Resources Corporation, the price of ir
South Korean firms may face non-tariff barriers following Britain's departure from the world's single largest economic bloc despite a new trade agreement between Seoul and London, a local think tank said Saturday.Last week, the two sides inked a free trade agreement (FTA) centered on maintai
South Korea's central bank has room for a further rate cut to deter a longer skid in Asia's fourth-largest economy, the bank's chief said Friday, with analysts eying a rate reduction in October.The Bank of Korea (BOK)'s monetary policy board voted to leave the bellwether rate steady,
South Korea's top financial regulator said Tuesday the government will expand financial support for companies hit by Japan's export restrictions if needed, as Tokyo's decision to drop Seoul from its list of trusted trading partners is set to take effect this week.Choi Jong-ku, chairman o
Samsung Electronics Co.'s presence in the Japanese smartphone market rose to the highest level in six years in the second quarter thanks to robust sales of new models, industry data showed Monday. The Korean tech giant shipped about 600,000 smartphones in Japan in the April-June period to take u
Hyundai Motor Co. said Friday it will provide five hydrogen-powered buses to the southern port city of Busan by October in a move to promote hydrogen-powered vehicles.The Busan metropolitan city is planning to establish 19 hydrogen charging stations by 2022 to make 4,500 hydrogen passenger cars and
International ratings agency Moody's on Friday slashed its forecast for South Korea's 2019 economic growth to 2 percent from the previous 2.1 percent.In a report, Moody's also cut its outlook for South Korea's economic growth for next year to 2.1 percent from 2.2 percent. "T
South Korea said Friday it will take steps to try to minimize any possible fallout from the trade row with Japan, which may further escalate down the road after its decision to terminate a military information-sharing pact with the neighbor."We will closely manage the situation to make sure that th
South Korea's exports are set to extend their slump to a ninth month in August, hurt by a decline in outbound shipments of semiconductors, data showed Wednesday. The country's exports declined 13.3 percent in the first 20 days of August from a year earlier to US$24.9 billion,
South Korea has notified Japan in advance of its plan to remove Tokyo from its list of trusted trading partners and is willing to talk with Japan further if needed, the trade minister said Saturday.South Korea decided on Monday to remove Japan from its "whitelist" of countries that receive prefere
South Korea remains gripped by sluggish exports and investments despite a slow gain in industrial production, a government report said Friday.The finance ministry report said the Korean economy is faced with growing downside risks from a slowing global economy, lower demand for chips and escalating
South Korea will strengthen its environmental and health safety inspections for battery, tire and plastic waste imported from Japan, the government said Friday.The Ministry of Environment said it will beef up radioactive and heavy metals tests on Japanese waste batteries, tires and plastics being im
There is a Korean saying that if you want to go fast, then go alone, but if you want to go far, then let us go together,” said Ambassador Ngovi Kitau during a welcoming dinner in honor of MD Seok Hong of Korea Overseas Infrastructure and Urban Development Corporation (KIND) held at the AIN Guest Hou
SK Innovation Co., South Korea's biggest refiner, said Thursday it will borrow 800 billion won (US$658 million) overseas by next year to invest in car battery and battery separator plants.SK Innovation has increased in the battery business as it sees a new growth driver for the country's thi
South Korea's exports dropped 22.1 percent in the first 10 days of August mainly due to decreased shipments of semiconductors, one of the country's key items, customs data showed Monday. The country's exports stood at US$11.5 billion in the Aug. 1-10 period, according to the Korea Custom
Foreigners remained net buyers of South Korean stocks in July while posting a net outflow from the bond market for the first time in five months, the financial regulator said Monday. Offshore investors bought a net 2.05 trillion won (US$1.69 billion) of local shares last month, marking the second co
South Korea's growth potential has dipped to the mid-2 percent range and may further decline due to the fast aging of the population that is beginning to affect its labor force, a local think tank suggested Sunday.According to the Hyundai Research Institute, the country's growth potential ha