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
South Korea's consumer sentiment dropped slightly from a month earlier to a five-month low in June, central bank data showed Tuesday, amid fears of an economic slowdown sparked by sluggish exports and a trade dispute between the world's two largest economies.The composite consumer sentiment
The global market for premium smartphones contracted in the first quarter on Apple Inc.'s falling shipments of iPhones, but Samsung Electronics Inc.'s share in the sector increased, according to an industry report on Sunday.According to the report by Counterpoint Technology Market Research,
`The new chief policy secretary of President Moon Jae-in has said he will spare no efforts to create more jobs and improve incomes, as South Korea's economy has shown signs of slowing growth on faltering exports and investment.Kim Sang-jo, former chairman of the Korea Fair Trade Commission who w
South Korea's financial watchdog said Sunday it has published special guidebooks on daily financial services for Russian-speaking foreigners here, in a move to help foreign workers and their spouses experiencing language barriers."The guide is to help foreign-language speakers living in Korea,
South Korea's finance ministry is expected to slightly cut its growth estimate for the year in the face of a delayed recovery in chip prices and the escalating trade dispute between the United States and China, sources said Sunday.The South Korean government has been adhering to the stance that
South Korea's nuclear safety commission said Friday that there has been mismanagement of radioactive waste-related data and called for immediate corrective measures.The Nuclear Safety and Security Commission said there was some mismatched information on the movement of low- and intermediate-leve
South Korea's economy and financial markets will be safely insulated even under the worst case that could become a reality amid the slowing global economy and the escalating trade dispute between the world's two largest economies, a central bank report said Thursday.The report, submitted to
South Korea has proposed to Japan that companies from both countries create a joint fund to compensate victims of Tokyo's wartime forced labor, the foreign ministry said Tuesday.Seoul made the proposal as Tokyo has been ratcheting up pressure on it to accept the request for the formation of an a
It's been a decade since Paul Bassett debuted in the South Korean coffee market with a focus on specialty coffee, and much of its success owes to a "positive evolution" in the local coffee culture, the Australian barista who gave his name to the brand says.Paul Bassett said his decision to joi
Korean Air Lines Co. said Wednesday it has signed a deal to purchase 30 B787 passenger jets to enhance its fleet, with the delivery set to begin next year.Korean Air signed a memorandum of understanding with Boeing to purchase 20 B787-10 planes and 10 B787-9s at the 53rd International Paris Air Show
South Korean shipbuilders and carmakers are set to report improved earnings this year on rising demand for high-end ships and SUVs, a major business lobby said Monday.Shipbuilders will benefit from rising demand for liquefied natural gas carriers and environment-friendly ships due to the Internation
South Korea and Sweden have signed six memorandums of understandings (MOUs) to expand trade and cooperation in emerging industries, the government said Saturday.The MOUs were signed in line with President Moon Jae-in's visit to Sweden on the last leg of his eight-day Northern Europe trip that al
The number of employed men in their 40s shrank at the fastest pace in 27 years last month, attributable to the declining population and lackluster local manufacturing industry, government data showed Sunday.The number of employed males aged between 40 and 49 stood at 3.83 million in May, shedding 11
South Korean savings banks' total lending has surpassed 60 trillion won (US$50.7 billion) for the first time since 2011, when some savings banks were ordered to close as they grappled with deteriorating asset quality, data showed Friday.The outstanding loans extended by savings banks amounted to
In what could be a drastic shift from his earlier commitment to standing pat, the head of South Korea's central bank on Wednesday hinted at an easing policy as the trade tension between the United States and China underscores the woes of Asia's fourth-largest economy.Bank of Korea Gov. Lee J
South Korea's current account balance was in the red in April, the first deficit in seven years, due to flagging exports and increased dividend transfers, the central bank said Wednesday.The country's current account deficit came to US$660 million in the month, marking a sharp turnaround fro
Air transportation leaders from across the world will gather in Seoul to discuss ways to stay profitable and tackle headwinds facing airlines at the upcoming annual meeting of the International Air Transport Association (IATA) this weekend, the global airlines body said Wednesday.More than 1,000 lea
By Sharofiddin Nazarov, Doctor of Economics, Director of CERSouth Korea is one of the most important economic partners of Uzbekistan. Korean investments to the economy of Uzbekistan today cover such areas as trade, communications, energy, light industry, pharmaceuticals, mining, petrochemicals, elec
South Korean companies' outlook for their business conditions worsened for the upcoming month, central bank data showed Wednesday, amid worries that Asia's fourth-largest economy may face increasing downside risks.The business survey index (BSI) of local businesses came to 73 for June, down