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Tue, July 16, 2019 | 23:53

Korea seeks to speed up 'northern' economic projects with Russia

As President Moon Jae-in began his four-day trip to Russia Thursday, expectations are rising over trilateral economic cooperation plans linking South and North Koreas with Russia. They are likely to start in sectors such as railways, pipelines and electricity grids.

Yoon Ja-young | 2018-06-21 17:26

KB, Shinhan face tougher rules on setting lending rates

The country's top financial regulator said Thursday it will tighten its grip on leading private lenders such as KB Kookmin and Shinhan to ask them to disclose the metrics on the lending rates they apply to customers.

Kim Yoo-chul | 2018-06-21 16:57

What's going on with cryptocurrency exchanges?

Korea's largest cryptocurrency exchange Bithumb was looted by a cyberattack, losing 35 billion won ($31 million) worth of virtual coins Wednesday. It came after a similar cyberattack the week before where another major exchange Coinrail lost 40 billion won worth of coins. Experts say the government should order domestic cryptocurrency exchanges to establish more tightened sec...

Jhoo Dong-chan | 2018-06-21 16:49

Korea grappling with household debt, income inequality

Short-term prospects for the Korean economy are good with an uptick in world trade and fiscal policy driving growth. However, widening wage inequality and high household debt are weighing on the economy, an Organization for Economic Cooperation and Development (OECD) survey reported Wednesday.

Kim Yoo-chul | 2018-06-20 16:22

Central bank expressing concerns about US rate hike

The Bank of Korea (BOK) Governor Lee Ju-yeol expressed concerns about possible adverse effects of the recent U.S. rate hike as chances for more rate increases will raise uncertainty about market volatility.

Kim Yoo-chul | 2018-06-19 16:58

'BOK will not issue digital money'

The Bank of Korea (BOK), the country's central bank, said Monday it opposes the idea of central bank digital currency (CBDC) as issuing CBDC will raise the basic mechanics of monetary policy and implementation, including the bank's use of open market operations.

Kim Yoo-chul | 2018-06-18 17:36

Nuclear reactor shutdown clouds Korea's export plan

The decision to shut down Wolsong-1 nuclear reactor as well as canceling plans for the construction of four new ones is raising concern that it will adversely affect export plans and hurt the industrial ecosystem. Analysts also expect electricity rate hikes will be inevitable.

Yoon Ja-young | 2018-06-18 17:13

Escalating US-China trade war wreaks havoc on Korea

By Jhoo Dong-chanThe escalating U.S.-China trade tit-for-tat will adversely affect Korean exporters who ship significant amounts of industrial parts and intermediary goods to the world's second-largest economy, analysts said Sunday.Many Chinese firms import parts and intermediary products from Korea to manufacture finished goods and export them to the United States and other ...

Jhoo Dong-chan | 2018-06-17 16:51

Trade war tensions rise as China hits back at US

People in 30s, 40s hit hard by sluggish job market

The number of the employees in their 30s and 40s continues its decline, another gloomy indication the Moon administration's income-driven economy policy isn't working to help generate jobs, amid the highest jobless rate among young people.

Jhoo Dong-chan | 2018-06-17 16:51

Business lobby calls for more effective deregulation

The head of the country's leading business lobby group called for the government to show more sincere efforts for deregulation, stressing businesses cannot create jobs due to tough regulations.

Yoon Ja-young | 2018-06-15 16:27

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