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Finance

Economy

Wed, July 15, 2020 | 11:13

Is economic recovery in the offing?

Is economic recovery in the offing?

The local economy is unlikely to regain its vigor in 2020, as recent economic indexes propping up the rosy outlook are nothing more than statistical base effects, experts said Monday. The figures, released by Statistics Korea, showed the nation's industrial growth in production, consumption and investment in November.

Lee Min-hyung | 2019-12-30 16:15

Companies scale down year-end parties amid downturn

Companies scale down year-end parties amid downturn

Companies used to organize lavish year-end parties for employees to recognize their accomplishments for the year and motivate them to work harder in the coming year. But this has increasingly become a thing of the past as more businesses scale down year-end gatherings or scrap them altogether amid the prolonged economic downturn and growing demand for work-life balance.

Lee Kyung-min | 2019-12-29 16:53

Koreans spend more time alone at home

Koreans spend more time alone at home

A woman in her mid-30s surnamed Lee loves to look at the new series of coffee capsules produced by Nespresso, a Switzerland-based operating unit of the Nestle Group.

Lee Kyung-min | 2019-12-25 14:33

More than half of middle-aged people in Korea indebted: data

More than half of middle-aged people in Korea indebted: data

More than half of middle-aged people were indebted last year, data showed Tuesday, in the latest sign of growing household debt in South Korea. The data compiled by Statistics Korea showed that 56.1 percent of people aged between 40 and 64 borrowed money from banks or other financial institutions in 2018, up 0.8 percentage point from 2017.

2019-12-24 13:36

Korean economy facing L-shaped recovery: Moody's

Korean economy facing L-shaped recovery: Moody's

A Moody's Analytics economist expressed a skeptical outlook for the Korean economy next year, taking a contrary stance to the government which has been showing “blind optimism.”

Park Jae-hyuk | 2019-12-20 19:00

Korea's GDP growth expected to fall below 2%

Korea's GDP growth expected to fall below 2%

Global organizations have become more pessimistic about the Korean economy, with nine out of 10 global investment banks forecasting its GDP growth for 2019 to fall below the 2 percent mark. The 10 global lenders' average figure stood at 1.9 percent, a major setback from the 2.7 percent expansion of 2018.

Lee Min-hyung | 2019-11-21 16:28

Moody's denies Seoul's rosy economic outlook

Moody's denies Seoul's rosy economic outlook

The nation's economic growth will continue to remain sluggish in the forthcoming year, amid the intensifying downward pressure on credit conditions for Korean corporations, Moody's Investors Service said Tuesday.

Park Jae-hyuk | 2019-11-19 16:51

No. of financial service workers drops 40,000 over 3 years

No. of financial service workers drops 40,000 over 3 years

Korea lost more than 40,000 financial service jobs over the past three years, an inevitable outcome of the sector's strengthened online businesses, including non-face-to-face services, government data showed Sunday.

Lee Kyung-min | 2019-11-17 17:06

NH-Amundi raises W100 bil. in patriotic fund

NH-Amundi raises W100 bil. in patriotic fund

A patriotic equity fund, set up by NH-Amundi Asset Management, has raised more than 100 billion won ($85.68 million) in the three months since its launch, the company said Sunday. The NH-Amundi Victorious Korea Equity Fund was launched in August to enhance the competitiveness of the local materials and parts industry after Japan imposed a series of trade restrictions against ...

Lee Min-hyung | 2019-11-17 17:01

Major brokerages post earnings surprise in Q3

Major brokerages post earnings surprise in Q3

Major securities firms here have reported a steep rise in third-quarter earnings after reducing their reliance on traditional brokerage commissions and diversifying their revenue streams into overseas markets. Korea Investment & Securities, one of the largest brokerage houses in Korea, reported Thursday that it posted 533.3 billion won in an accumulated net profit in the firs...

Lee Min-hyung | 2019-11-17 16:46

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