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Wed, May 22, 2019 | 13:03

Finance > Economy >

Low productivity eats into Korea's growth potential

Korea's potential growth will face continued downward pressure due to deteriorating productivity as a result of falling corporate investment following the global financial crisis in 2008, a private think tank said Sunday.

Economy | 2019-05-19 17:00

Korean firms' global competitiveness waning

Korean companies' global competitiveness is dwindling amid the economic slowdown. According to Forbes, a U.S. bi-weekly business magazine, only 62 Korean firms, including Samsung Electronics, made it onto its 2019 Global 2000 list of the world's biggest public companies, down from the previous year's 67.

Economy | 2019-05-17 17:53

'Comprehensive economic partnership needed to boost North Korean economy'

Signing an inter-Korean trade agreement could be the first step towards helping North Korea's economy grow, according to a state-run think tank's study released Tuesday. Given two precedents whereby North Korea comprehensively revised its laws following a spike in trade, an export-oriented policy with the aim to increase foreign direct investment (FDI) will be the most helpfu...

Economy | 2019-05-15 17:22

Jobless rate hits 19-year high

Over 1.24 million people remained jobless in April, the highest number in 19 years, a clear indication of the tightening job market amid an economic slowdown here, government data showed Wednesday.

Economy | 2019-05-15 17:20

Koreans rush to dollars on won's fall

Local investors are rushing to financial products investing in dollars. The nation's dollar time deposit accounts attracted $100 million worth of investments over the past eight days.

Economy | 2019-05-14 15:18

Korean economy faces rocky path to recovery

The Korean economy is facing an uneven path to recovery due to sluggish domestic demand and exports amid lingering global uncertainties involving the U.S-China trade dispute, according to global economists, Sunday. They expect the economy may see a mild turnaround in the short term, mostly because of “base effects” from a shocking contraction in the first quarter, but they sa...

Economy | 2019-05-12 17:20

Tax revenue declines on economic downturn

The government is moving ahead with expanding its spending to revitalize the economy and create more jobs. Tax revenue, however, declined during the first three months of the year, which could threaten Korea's fiscal soundness.

Economy | 2019-05-10 17:41

BOK chief warns of growing economic uncertainties

The Bank of Korea (BOK) will beef up its monitoring of the domestic financial market amid growing uncertainties associated with the U.S.-China trade talks, vowing to take all possible steps to stabilize the country's foreign exchange and stock markets, the BOK chief said Friday.

Economy | 2019-05-10 17:00

Renewed trade woes jolt financial markets

Seoul stocks crashed on Thursday, losing more than 3 percent amid growing uncertainties engulfing the trade talks between the U.S. and China. The Korean won dipped to the lowest level in over two years approaching 1,180 won per dollar.

Economy | 2019-05-10 13:46

Income-led growth drive at crossroads

When President Moon Jae-in took office two years ago, he showed a stronger commitment than all his predecessors to tackle income inequality and unfavorable work conditions. His administration immediately carried out his key income-led growth policy, backing rapid rises in the country's minimum wage. This was increased by 16.4 percent in 2018, and 10.9 percent this year.

Economy | 2019-05-09 16:12

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