South Korea's parliament passed a 5.83-trillion won (US$4.9 billion) extra budget bill Friday, supporting the government's efforts to prop up the slowing economy and tackle Japan's export curbs against Seoul.During a plenary meeting, the National Assembly approved the budget bill in a 19

South Korea said Friday that it will remove Japan from its list of trusted trading partners in an escalating trade war between the two neighbors, in what could be its latest salvo against Tokyo's expanded trade restriction."We will take the step of strengthening export controls by excluding Jap

South Korea's central bank said Thursday it may consider further slashing its policy rate to help boost economic growth should conditions worsen amid escalating trade tension with Japan. Last month, the Bank of Korea cut the benchmark rate by 25 basis points to 1.50 percent, citing slower-than-a

South Korean Trade Minister Yoo Myung-hee returned home from the United States on Saturday after asking for Washington's support and mediation in Seoul's fight against export controls by Japan. During her five-day visit, Yoo met various political and business officials in Washington, includi

The combined operating profit of South Korean firms listed on the main and secondary bourses nose-dived 37 percent on-year in the first half of 2019, data showed Sunday, due mainly to the sluggish global semiconductor market.The operating profit of 125 listed firms that announced their first-half pe

U.S. President Donald Trump on Friday instructed the U.S. trade representative to take action to ensure certain wealthy economies do not use their status as developing countries to receive special treatment from the World Trade Organization, mentioning South Korea by name.Trump gave the order in a m

South Korea's financial regulator said Friday it will double the size of funds to restructure struggling small and medium-sized enterprises (SMEs) this year, as part of its drive for "market-oriented" corporate restructuring.The government has launched a 1 trillion-won (US$845 million) fund fo

The South Korean economy is estimated to have expanded 1.1 percent in the second quarter, a dramatic turnaround from an unexpected contraction the previous quarter, partly afforded by increased government spending, central bank data showed Thursday. The country's gross domestic product (GDP) exp

LG화학은 ‘제 2회 글로벌 이노베이션 콘테스트(GIC, Global Innovation Contest)’를 개최한다고 7월 23일에 밝혔다.글로벌 이노베이션 콘테스트는 우수한 혁신 기술을 발굴하기 위해 LG화학이 국내 화학 업계 최초로 전 세계의 대학 및 연구기관을 대상으로 진행하는 기술 공모전이다.LG화학은 7월 23일부터 9월 30일까지 석유화학, 전지, 첨단소재, 바이오 등 총 4개의 사업 분야에서 혁신 기술 아이디어를 접수 받는다.LG화학은 내부 전문가 및 선정위원회를 구성해 각 사업본부의 중장기 전략과 실질적인 시너지 창

South Korea will step up its efforts this week to fend off a move by Japan to impose additional trade restrictions against Seoul, according to government officials on Sunday, amid a growing trade dispute that could also disrupt global supplies of semiconductors and smartphones.Diplomatic and economi

South Korea's economy is estimated to have grown 1 percent in the second quarter, shifting from a contraction of 0.4 percent the previous quarter, financial industry sources said Sunday. The Bank of Korea is set to unveil its growth estimate for the April-June period this week. Earlier, the cent

South Korea will step up its efforts this week to fend off a move by Japan to impose additional trade restrictions against Seoul, according to government officials on Sunday, amid a growing trade dispute that could also disrupt global supplies of semiconductors and smartphones. Diplomatic and econom

Major memory chip prices have jumped 25 percent in the past two weeks following Japan's restrictions on exports of high-tech materials to South Korea, industry data showed Saturday.The prices of dynamic random-access memory (DRAM) chips jumped by up to 25 percent to US$3,736 on Friday from $3,03

The Bank of Korea (BOK) cut its policy rate by a quarter percentage point to 1.50 percent Thursday in a surprise move to help spur growth as a trade feud with Japan adds more uncertainty to Asia's fourth-largest economy already dogged by a decline in exports and facility investment. The rate cut

It may seem to be a contrarian ploy for a gas station to provide an electric vehicle charging service, but local refiners have been quick in adding such services in an attempt to capitalize on the fast-growing battery-powered car segment. Three of four major South Korean refiners are already startin

A group of major tech companies and financial institutions have joined hands to launch a blockchain-based digital identity platform available on smartphones to provide a trustworthy and secure solution, they said Sunday. Samsung Electronics Co., three mobile carriers -- SK Telecom Co.

South Korea's trade ministry said Thursday it will hold working-level talks with its Japanese counterpart this week to discuss Tokyo's latest trade restrictions on key industrial materials. The talks in Tokyo on Friday will be the first of their kind since Japan implemented strict regulation

South Korea on Tuesday rebutted the possibility that a key Japanese industrial material has been shipped to North Korea in breach of international sanctions against Pyongyang as alleged by Japan. Tokyo has claimed that its strict regulations of shipments of key materials to South Korea are due in pa

South Korea maintained its position at 12th in the global gross domestic product (GDP) rankings last year, the World Bank said Sunday. In 2018, Korea posted US$1.619 trillion in terms of nominal GDP, little changed from the previous year, data from the World Bank showed. Korea ranked 14th in the Wor

Two top South Korean economic policymakers met with business leaders Sunday to discuss ways to cope with Japan's export restrictions, Cheong Wa Dae has confirmed. Economy and Finance Minister Hong Nam-ki and Kim Sang-jo, chief of staff to President Moon Jae-in for policy, had consultations with