The South Korean economy grew at the slowest pace in six years in 2018 as shrinking corporate investment weighed heavily on Asia's fourth-largest economy, central bank data showed Tuesday. The nation's economy expanded 2.7 percent on-year in 2018, slowing down from 3.1 percent the previous y

South Korea's state-run pension fund suffered valuation losses from its investment in the country's 10 major conglomerates due to declines in their stocks, data showed Sunday. The National Pension Service (NPS) held an average 7.76 percent stake in the conglomerates at the end of 2018, compa

South Korea's venture minister said Thursday that the government is committed to expanding support for startups, which eventually would jack up employment.Venture investment in South Korea is estimated at 3.4 trillion won (US$3.04 billion) last year, which marks a hike of over 40 percent from a

South Korea's trade ministry said Wednesday it will speed up efforts to clinch a free-trade agreement (FTA) with Britain amid rising woes over the country's move toward exiting the European Union without an agreement on matters such as customs. The Ministry of Trade, Industry and Energy said

SEOUL, Jan. 11 (Yonhap) -- Major foreign investment banks (IBs) have forecast the U.S. central bank will freeze its key interest rate in the first quarter amid signs of an economic slowdown, a report said Friday.For the remainder of the year, the U.S. Federal Reserve is widely forecast to carry out

World Bank Group President Jim Yong Kim announced his resignation Monday with nearly three years left in his term, but didn't state the reason for his decision.The Korean-American said on Twitter that he will be stepping down Feb. 1 after serving in the position since 2012."It's been the gr

South Korea's exports hit an all-time high last year on brisk sales of memory chips and petrochemical goods, government data showed Tuesday.Outbound shipments came to $605.5 billion for 2018, up 5.5 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry an

South Korea's consumer prices rose 1.3 percent in December from a year earlier on gains in agricultural and industrial goods and the service sector, government data showed Monday. The reading represents a decline from the previous month's 2 percent on-year gain, according to the data

South Korea's exports edged up 1 percent in the first 20 days of December from a year earlier, customs data showed Friday, despite lingering external uncertainties.The country's outbound shipments reached US$31.3 billion in the Dec. 1-20 period due to a rise in outbound shipments of cars and

South Korea's industry ministry pledged Tuesday to bolster efforts to upgrade the competitiveness of the country's key industrial sectors by expanding research and development efforts and easing regulations.The Ministry of Trade, Industry and Energy announced a set of measures to spur innova

Hyundai Motor Co., South Korea's largest carmaker by sales, said Sunday legendary rally driver Sebastien Loeb will contest six rounds of the 2019 World Rally Championship (WRC).Nine-time WRC champion Loeb will start the two-year contract with Hyundai by attending the Monte-Carlo Rally with the H

South Korea's new finance minister pledged on Dec. 12, 2018 to front-load next year's budget to help boost Asia's fourth-largest economy.Hong Nam-ki, the minister of economy and finance, said the move is meant to ensure that planned investments can be quickly carried out.

The United Nations Security Council on Friday granted a sanctions exemption to enable the two Koreas to conduct a survey on reconnecting railways across their border, a diplomatic source said.The exemption was approved by consensus by the council's North Korea sanctions committee, paving the way

A fire broke out at a state-run nuclear energy research institute in central South Korea, but there was no risk of a radiation leak, the institute said on Nov. 19, 2018.The fire broke out at a laboratory in the Korea Atomic Energy Research Institute in Daejeon, 160 kilometers south of Seoul, as of 2

South Korea and China held talks on Nov. 20, 2018 to discuss ways to ease trade disputes and expand investment opportunities between the two nations, Seoul's trade ministry said.Senior trade officials held the 18th bilateral trade remedy meeting in Beijing to share opinions on the latest trade i

South Korea's producer prices backtracked for the first time in nearly one year in October as farm production recovered in the fall season, central bank data showed on Nov. 20, 2018.The producer price index, a barometer of future consumer inflation, reached 105.41 last month, down 0.4 percent fr

South Korea's jobless rate rose slightly in October due to a fall in employment in the retail and hospitality sectors, with poorer-than-expected job creation showing no signs of a letup, government data showed on November 14, 2018.The unemployment rate stood at 3.5 percent last month, up 0.3 per

South Korea's tax revenue was tallied at 20.5 trillion won (US$18 billion) in September, up 2.9 trillion won from a year earlier, the finance ministry said on Nov. 13, 2018.Income tax revenue amounted to 3.7 trillion won in September, up 0.5 trillion won from a year earlier, due to a rise in wag

Bank of Korea (BOK) Gov. Lee Ju-yeol has been elected to the board of the Bank of International Settlement (BIS), the central bank in South Korea said on Nov. 13, 2018.At the BIS board of directors meeting in Basel, Switzerland, on Nov. 11, 2018 (local time), Lee became the 11th member of the 18-per

South Korea's government will focus all of its efforts to improve people's livelihoods and push forward timely structural reforms that can back up income-led growth goals, the finance minister nominee said on Nov. 11, 2018. In a meeting with reporters just after he was named the country'