South Korea's jobless rate dropped to the lowest level in 10 months in October, but the rate of the fall slowed down, government data showed Wednesday.The unemployment rate stood at 3.2 percent last, down 0.2 percentage point from the same month last year, according to the report compiled by Sta
South Korea's main stock market has been the third-best performer among bourses in major advanced and emerging countries this year despite its recent drop, data showed Thursday.The benchmark Korea Composite Stock Price Index (KOSPI) fell for the second session to close at 2,545.44 on Tuesday on
U.S. tech giant Apple Inc. started sales of the new iPhone 8 smartphones in South Korea on Friday, with the devices receiving a relatively tepid response from local users, industry watchers said.According to sources, the preorders for the iPhone 8 smartphones were only 60-70 percent of the iPhone 7
Samsung Electronics Co. stood as the world's top smartphone producer in the third quarter in terms of shipments, data showed Friday, helped by rising sales of budget models.Industry tracker Strategy Analytics said the South Korean tech giant sold 83.4 million units of smartphones in the July-Sep
The head of Kakao Bank, South Korea's second Internet-only bank, expressed concern Friday that restrictions on ownership of a financial firm by a non-financial company could undermine innovation in the country's banking sector."The pace of innovation could slow down unless the restrictions
South Korea's exports jumped 7.1 percent in October from a year earlier on the back of strong demand for semiconductors, ships and petrochemical products, government data showed Wednesday.Outbound shipments came to US$45 billion for October, up from $41.9 billion tallied a year earlier, accordin
Asia's current successes in economic growth, capital strength, foreign exchange reserves, young and dynamic labor force, as well as China's rise have elevated the position of the region. As a forum gathering dynamic economies in Asia-Pacific and playing an important role in promoting trade a
South Korea's economic growth hit a seven-year record high in the third quarter due to increased construction investment and exports, central bank data showed Thursday.In the July-September period, the country's gross domestic product (GDP) increased 1.4 percent from the previous quarter, fa
South Korea will hold a public hearing next month on the renegotiation of a free trade pact with the United States, Seoul's trade ministry said Wednesday, as the two countries move to reset the terms at Washington's call.The hearing on the Korea-U.S. free trade agreement (FTA), slated for No
Korea Minting, Security Printing & ID Card Operating Corp. (KOMSCO), a sole state-run currency manufacturer of Korea, has made significant progress in its pursuit of overseas markets. On September 11, 2017, the company announced that it has won a noteworthy contract to manufacture 370 million coins
President Moon Jae-in vowed to enhance the safety of nuclear reactors Sunday, accepting the recent recommendation by a public debate commission to resume the construction of two new nuclear reactors that he earlier promised to scrap."The government will quickly resume the construction of the Shin K
South Korea's housing market is expected to slow down next year following a steep rise in recent years due to strengthened regulations and the rising likelihood of interest rate hikes in major economies, a central bank report showed Saturday.South Korea's housing market has slowed over the p
By John Kim, The Korea Post reporterAmbassador Albergo Necco Tello of Peru in Seoul said, “One of the biggest opportunities that we can offer international investors is participation in infrastructure projects and Peru has been catching up a lot over the past few decades in terms of economic growth
The United States should not impose import restrictions on South Korean washers in consideration of its own workers and economy, South Korean government and business officials said Thursday.The U.S. International Trade Commission determined earlier this month that imports of large residential washer
South Korea is struggling to achieve its goal of 3 percent growth this year as skepticism grows over sluggish domestic demand and investment.Officials said the government is not considering stimulus measures for now, as it has already injected an extra 11 trillion won ($9.76 billion) into the econom
Nearly 190 companies have been delisted from the South Korean stock market over the past five years due to poor financial health or other reasons, data showed Sunday.A total of 189 firms, including the country's top shipping line Hanjin Shipping Co., were delisted from the country's main KOS
Samsung BioLogics Co. emerged as the seventh-largest firm on the main bourse in terms of market value, data showed Saturday, apparently bolstered by its brighter export outlooks.The South Korean biopharmaceutical company closed at 388,500 won (US$344) on Friday, up 2.91 percent from the previous ses
South Korea's central bank is likely to hold its key rate steady this month as soft domestic demand could keep monetary policy accommodative in the near term, a leading provider of economic analysis said Saturday.The Bank of Korea (BOK) is set to hold its rate review session Thursday to decide w
South Korean tech giant Samsung Electronics Co. said Friday that its third-quarter operating profit is expected to have nearly tripled on-year, apparently on the sound returns from its computer chip business.Operating profit was estimated at 14.5 trillion won (US$12.8 billion), compared with 5.2 tri
South Korea's political parties welcomed the agreement between Seoul and Beijing to extend their currency swap deal Friday as an opportunity to defuse tensions over the deployment of a U.S. missile defense system to Korea and enhance mutual trust.The two sides agreed to renew the arrangement wor