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Thu, October 18, 2018 | 17:08

Economy > Policies >

Bank of Korea freezes key rate at 1.5% for Oct.

South Korea's central bank on Thursday held its policy rate untouched for October on worsening economic data and low inflation pressure.

Policies | 2018-10-18 10:08

Rigid labor, lack of risk taking hinder Korea's competitiveness

The country's global competitiveness improved in 2018, ranking 15th with an average score of 78.8 points out of 100, up from 26th among 140 economies in 2017, according to the World Economic Forum (WEF). It scored high points for several indices measuring various parts of the economy. Notably, it got a perfect score of 100 for maintaining macroeconomic stability and earned th...

Policies | 2018-10-17 16:49

South Korea ranks 15th in global competitiveness: WEF report

South Korea's ranking in global competitiveness rose by two notches this year thanks to improvement in the country's macroeconomic environment and a high-level of information technology, a report showed Wednesday.

Policies | 2018-10-17 09:37

Moon's anti-nuclear policy drives experts abroad

More nuclear energy scientists and engineers are exiting the country to work for foreign companies, as the Moon Jae-in administration pursues controversial “nuclear-free” energy policies, an opposition party lawmaker said Tuesday.

Policies | 2018-10-16 17:01

Employment jumps on good weather, Chuseok sales

The number of employed increased by 45,000 in September from a year earlier as more people got work in construction and agriculture amid good weather conditions, according to Statistics Korea Friday.

Policies | 2018-10-12 18:23

Korea's jobless rate rises in Sept., sluggish job creation continues

South Korea's jobless rate rose slightly in September due to a fall in employment in the retail and restaurant sectors, with poorer-than-expected job creation showing no signs of a letup, government data showed Friday.

Policies | 2018-10-12 09:43

Korea urged to reform labor market

President Moon Jae-in should reform the job market and develop the services sector to reverse the dismal unemployment situation and rehabilitate the Korean economy, a Washington-based economic expert said Wednesday.

Policies | 2018-10-09 11:22

IMF cuts growth outlook for South Korea to 2.8% this year

The International Monetary Fund (IMF) on Tuesday lowered its growth outlook for South Korea to 2.8 percent from 3 percent amid sluggish corporate investment and domestic consumption.

Policies | 2018-10-09 10:21

NPS hit for losing W10 tril. in stock investment

The National Pension Service (NPS) has come under fire for losing nearly 10 trillion won ($8.7 billion) in stock investments in the first seven months of this year amid the prolonged absence of top investment officers. Market analysts are calling on the state pension fund manager to stay away from political infighting between ruling and opposition parties concerning how its f...

Policies | 2018-10-07 17:17

No. of workers in 30s, 40s drops at steepest pace

The number of workers in their 30s and 40s declined at the steepest pace in the first eight months of this year since 2009, a government report showed Sunday. Employees in this age group often are referred to as the backbone of the Korean economy, and the decline indicates the country's worsening job market conditions.

Policies | 2018-10-07 17:14

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