South Korean banks posted surprisingly good first half earnings on the back of an economic recovery and an uptick in interest rate, industry data showed Sunday, stirring up concerns over their bonus plans amid ballooning household debt.According to the data, the country's four biggest banking gr
President Moon Jae-in nominated an incumbent ruling party lawmaker as labor minister on Sunday after his previous pick withdrew amid strong objection from opposition parties.Rep. Kim Young-joo of the ruling Democratic Party was nominated to lead the labor ministry, according to presidential spokesma
South Korea's car exports to the United States have declined, rather than increased, after the two countries abolished import taxes last year as part of their free trade agreement, data showed Sunday,The Korea Automobile Manufacturers Association (KAMA) published the analysis that rebuts a wides
South Korea's central bank said Sunday that the face value of damaged banknotes and coins that were destroyed rose 6.8 percent in the first half of the year from six months earlier.The face value of the damaged banknotes and coins exchanged at local banks, including the Bank of Korea, came to 1.
South Korea's corporate lobbies on Sunday expressed concerns over a decision to hike the minimum wage for next year, saying it could worsen business conditions and hamper job creation.A panel representing the government, labor and management decided Saturday to increase the minimum hourly wage t
Consumer sentiment among low-income earners have deteriorated despite upbeat forecasts fueled by strong exports and public expectations that the new Moon Jae-in administration will help propel growth, official data showed Sunday.According to findings by the Bank of Korea (BOK), the consumer sentimen
South Korea's trade surplus of auto parts decreased on-year in the January-May period, data showed Saturday, apparently due to sluggish sales of local vehicles overseas.According to the data compiled by the Korea International Trade Association, the country's surplus of parts came to US$7.5
Ambassador Myrat Mammetalyyev of Turkmenistan in Seoul said, “Turkmenistan and the Republic of Korea are countries that have a rich cultural heritage, the people of which have been able to preserve national traditions and customs.” Speaking at a seminar at the Hanyang University in Seoul on May 16,
The U.S. Federal Reserve raised key interest rates by 0.25 percentage point Wednesday, and said it plans to reduce its securities holdings, a move that could spur rates to rise further.The Fed raised the target range for the federal funds rate from 1 to 1.25 percent, a level that's on par with S
The diplomatic row between Seoul and Beijing over the deployment of the U.S. anti-missile system in the country that hurt sales of South Korean cars in China has benefited Japanese automakers, data showed Sunday.Numbers provided by local carmakers and the China Passenger Car Association showed that
South Korea's finance minister nominee said Wednesday that he will make more efforts to expand fiscal policies, including taxation, to play a greater role in improving income distribution."The government has taken steps to have taxation contribute to enhancing distribution of income, but its ef
Since the inauguration of the President Horacio Cartes in August 2013, Paraguay has quickly shifted away from agriculture and livestock farming dependent industries to open markets, attracting foreign investments. Since 2014 Paraguayan Government has been investing $1 billion annually, planning 17 v
Seoul Dairy Cooperative (President Young-hon Sung) launched major customer appreciation event dedicated to the 80th Anniversary of its establishment. Customers who buy any dairy products above 8080 KRW can win valuable prizes, including ‘Me 100%’ milk mobile gift certificates, movie tickets, tablets
The World Green Economy Organization (WGEO) launched by HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai in October 2016 and supported by the United Nations Development Programme (UNDP), launched the Smart & Sustainable Cities Platform, in Seo
Cargo processed at South Korean seaports gained ground last month from a year earlier on brisk outbound shipments, government data showed Thursday.Cargo handled at the country's seaports came to 129.62 million tons in April, up 6.6 percent from 121.54 million tons tallied a year earlier, accordi
Leading retailers are planning more hirings this year in step with the new government's emphasis on jobs and employment stability, industry watchers said Wednesday.Lotte Group, which owns a chain of department stores and supermarkets, hired 13,300 new employees last year. It said it will try to
Fathers are far less committed than mothers to everyday parenting, such as taking part in a child's school events, a local study showed Monday, raising calls for the adoption of a more parents-friendly work system in the country.According to the latest research by the Korea Institute of Child Ca
More than 36 percent of people hired by South Korean public firms and institutions are non-regular or outsourced workers as of last year, government data showed Saturday.Out of 328,519 workers in 332 state-funded institutions, 36,499 people were non-regular employees with two-year contracts as of en
Local egg prices were rising again with the country yet to stabilize the market following the latest outbreak of bird flu, officials said Thursday.The Korea Agro-Fisheries & Food Trade Corp. said a carton of 30 eggs was priced at an average of 8,027 won (US$7.17) as of Wednesday, up 61.3 percent fro
South Korea's credit card spending jumped nearly 14 percent in March from a year ago on higher oil prices and a rise in the number of outbound travelers, data showed Wednesday.Credit card purchases totaled 66.4 trillion won (US$59.5 billion) in March, up 13.7 percent from the same month a year e