South Korea's consumer confidence plunged to a 17-month low in August due largely to a sluggish job market and inflation, central bank data showed Tuesday.The composite consumer sentiment index (CCSI) for this month stood at 99.2, down 1.8 points from the previous month, according to the survey
South Korea's trade promotion agency said Sunday it will provide customized consulting services to beef up efforts to help small and medium-sized enterprises (SMEs) tap into overseas markets.The Korea Trade-Investment Promotion Agency (KOTRA) said it will increase the number of employees tasked
The Bank of Korea (BOK) will likely maintain its policy rate at the current 1.5 percent next week as Asia's fourth-largest economy is struggling with sluggish employment and global trade disputes, a market watcher said Saturday.Chaired by Gov. Lee Ju-yeol, the seven-member panel of the BOK will
South Korea's terms of trade dropped at the fastest clip in nearly seven years last month as import prices rose sharply amid higher crude oil prices, central bank data showed Friday.The terms of trade index for products came to 92.94 last month, down 9.7 percent from a year earlier, according to
Finance Minister Kim Dong-yeon said Thursday that the government will propose the largest job creation-centered budget next year that will benefit both the public and private sectors, as the nation's economy is struggling with employment problems.Kim, who made the remarks at a parliamentary budg
Unemployment numbers for the 25-39 age group, which normally represents new entrants to the job market, were at their highest in 19 years last month, state data showed Wednesday.The number of people without jobs in the age group hit 338,000 in July, the highest since 434,000 tallied in 1999, accordi
Korea Post, the national postal service provider, will switch more than 2,000 contracted workers to permanent employees over four years starting next year, its report to a lawmaker said Monday.The report, submitted to the ruling party's Rep. Lee Cheol-hee, said 2,252 temporary employees, includi
South Korea's import prices index hit a near four-year high last month due mainly to a weaker local currency, central bank data showed Tuesday.In Korean won terms, the import price index gained 1.7 percent to 89.81 in July from a month earlier, according to preliminary data from the Bank of Kore
The Organization for Economic Cooperation and Development (OECD) raised warnings that South Korea's economy is facing some serious challenges going forward, an analysis of data showed Sunday.The alarm comes as the organization representing developed market economies with high income adjusted dow
North Korean coal and pig iron have been brought into South Korea, potentially in violation of international sanctions against Pyongyang over its nuclear ambitions and intercontinental ballistic missile tests, Seoul's customs office said Friday.The Korea Customs Office (KCS) said three South Kor
South Korea's economic recovery is being hampered by weakening domestic demand, although exports remain relatively sound, a state-run think tank said Tuesday."Export growth has been maintained, but domestic demand growth is weakening, putting a drag on the pace of economic improvement," the Ko
The Seoul government said Friday it has reached an agreement with Singapore to allow airlines to operate up to 14 flights a week that directly connect South Korea's southeastern port city of Busan with the Southeast Asian country. The agreement was made during the countries' two-day
Household loans at South Korea's five major banks reached an accumulated 548 trillion won (US$490 billion) at the end of July as people continue to borrow money to buy a house, the lenders said Saturday. The five banks -- KB Kookmin Bank, Shinhan Bank, Woori Bank, KEB Hana Bank and NH No
South Korea's exports rebounded in July from the previous month's slight fall, largely due to a continued rise in outbound shipments of chips and petrochemical goods, government data showed Wednesday.Outbound shipments reached US$51.88 billion last month, up 6.2 percent from a year ago, acco
South Korean shares are expected to move in a limited range with little or no upward momentum amid lingering concerns over escalating trade tension between the United States and China, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,294.99 on Friday, up 0.2
Finance Minister Kim Dong-yeon on Friday called for an expansionary fiscal policy as South Korea's economic growth slowed in the second quarter on a decline in private investment and weaker consumption.Kim made the remarks during a parliamentary committee meeting, a day after the Bank of Korea s
The South Korean economy slowed down slightly in the second quarter from three months earlier due mainly to sluggish facility and construction investment, central bank data showed Thursday.In the April-June period, Asia's fourth-largest economy posted a 0.7 percent on-quarter gain, contracting f
A passenger jet of Asiana Airlines Inc. departing from Japan has flown back due to a landing gear problem, causing an around eight-hour flight delay, the company said Saturday. The A350 plane bound for Incheon International Airport, west of Seoul, took off from Fukuoka Airport at 11:28 a.m.
Samsung Electronics placed 12th on the list of the top 500 global companies, U.S. business magazine, Fortune, disclosed on July 13, which is the highest standing ever achieved by the tech giant of South KoreaAccording to Yonhap News Agency of Korea today, Samsung Eelctronics first entered Fortune
Prime Minister Lee Nak-yon called for greater economic and business cooperation with Kenya stating that tremendous synergy can be made by the two countries if Kenya's rich resources and Korea's technology are combined. This was reported by Yonhap in Seoul this morningLee made the remarks at