South Korea will take "appropriate" steps to stabilize its financial markets in case of increased volatility, signaling Seoul's possible intervention in the foreign-exchange market.Hong Nam-ki, the minister of economy and finance, said South Korea will strengthen the monitoring of financial ma

Unemployment rate in South Korea's southeastern industrial city of Ulsan rose sharply in the first quarter of the year. The result of such sharp increase was due to the massive corporate restructuring moves.For the period January-March, the unemployment rate in Ulsan stood at 5.3 percent, 1.5 pe

South Korea's jobless rate rose to 4.4 percent in April, government data showed Wednesday, in the latest sign of a weak job market amid an economic slowdown in Asia's fourth-largest economy. The unemployment rate increased 0.3 percentage point from a year earlier, according to the data compi

President Moon Jae-in strongly indicated Tuesday that he would stick to the currenteconomic policy despite controversies, especially over the income-led growth strategy and plans to phase out nuclear energy use."In general, our economy is moving toward success," he said during a speech at a Seoul

South Korea will work with Saudi Arabia to set up a joint nuclear research center for the small-medium reactor market, the science ministry said Tuesday.The agreement came at the bilateral nuclear commission meeting held in Riyadh, andonce administrative negotiations are completed, an agreement can

South Korea will aim to host the country's first World Expo in the southern port city of Busan in 2030 with a budget of 4.9 trillion won (US$4.12 billion), the industry ministrysaid Tuesday.The Ministry of Trade, Industry and Energy will file the application to the Paris-basedBureau Internationa

Lotte Group, South Korea's retail-to-chemicals conglomerate, has been accelerating itsmove to tap deeper into the United States, the world's largest economy, with itscumulative investments reaching some US$4 billion in production facilities and otherareas, industry sources said Tuesday.In it

By Son Da-somChina's video marketing market is growing around various types of mobile video platforms. According to KITA (Korea International Trade Association) on May 7, 2019, driven by the Chinese consumers’ high rates of mobile internet use and video use and popular use of social media, the m

South Korea said Monday that it will take steps to stabilize its financial market if necessary but insisted that U.S. tariff hikes on Chinese products may have only a limited impact on the financial market.Lee Ho-seung, the first vice minister of economy and finance, said that direct effects of the

South Korea's exports fell 6.4 percent in the first 10 days of May from a year earlier mainly due to decreased shipments of semiconductors, customs data showed Monday.The country's exports stood at US$13 billion in the May 1-10 period, compared with $13.9 billion in the same period last year

The head of South Korea's central bank said Friday that uncertainties grew over the prospects for trade talks between the United States and China as U.S. President Donald Trump threatened to follow through on a plan to impose more tariffs on Chinese goods. Bank of Korea (BOK) Gov. Lee Ju

South Korea's chief economic policymaker on Wednesday called on the National Assembly to swiftly pass the 6.7 trillion-won (US$5.8 billion) extra budget bill, as Asia's fourth-largest economy is facing downside risks."The timing and speed are crucial factors of the extra budget," Hong Nam-

South Korea's monthly current account surplus narrowed in March from a year earlier amid slowing exports, central bank data showed Wednesday.The country's current account surplus came to US$4.8 billion in March, down from $5.1 billion a year earlier, according to the preliminary data from th

South Korea's chief economic policymaker said Thursday that the country's economy will likely recover in the second half of this year, but warned that this year's export growth may be lower than expected on lackluster global demand. South Korea's export-reliant economy contracted an

The head of South Korea's central bank held out the prospect on Wednesday that the country's economy could improve in the second quarter, suggesting that there will not be a rate cut for Asia's fourth-largest economy amid a sharper-than-expected slump in the first quarter. Bank of Korea

South Korea's finance minister on Monday ruled out the possibility that the government would adjust the country's economic growth target despite an economic slowdown. "For now, (the government) has no plan to revise its growth rate forecast," Hong Nam-ki, the minister of economy and financ

South Korea and Britain called for the quick making of a free trade agreement to brace for a possible no-deal Brexit, South Korea's finance ministry said Saturday.The consensus was reached in a meeting between Hong Nam-ki, the minister of economy and finance, and his British counterpart, Philip

Trading of South Korean shares is likely to remain subdued next week amid growing economic concerns, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,179.31 points on Friday, down 1.6 percent from a week ago.Earlier this week, Seoul shares remained flat as i

South Korea's economic conditions will improve from the current dire situation down the road, the central bank chief said Friday, calling for further bold policy efforts to boost economic growth."It is true that the economy is facing hardship as external conditions are not favorable and the pri

The country's top court on Tuesday remanded the case of a former head of telecom giant KT Corp., who was convicted of running a slush fund and embezzlement.The Supreme Court sent the case of Lee Suk-chae back to the Seoul High Court, saying there is a lack of evidence that he created a slush fun