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The Korea Times

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Economy

Mon, December 11, 2023 | 04:50

Central banks of Korea, Indonesia agree to implement won-rupiah transactions in 2024

Central banks of Korea, Indonesia agree to implement won-rupiah transactions in 2024

The Bank of Korea (BOK) and Bank Indonesia agreed Sunday to implement bilateral transactions in their local currencies in a bid to facilitate bilateral trade.

2023-12-10 16:42

Financial soundness of savings banks under scrutiny over rise in delinquency rates

Financial soundness of savings banks under scrutiny over rise in delinquency rates

The Financial Supervisory Service (FSS) has launched on-site inspections regarding the soundness of domestic savings banks, as many of them are showing signs of an increase in delinquency rates that are reaching worrying levels.

2023-12-07 16:12

Trade minister bets on semiconductors, shipbuilding, cars for 2024

Trade minister bets on semiconductors, shipbuilding, cars for 2024

The trade ministry is betting on the semiconductor, shipbuilding and car industries to maximize the country's exports in 2024, its minister said Wednesday.

2023-12-07 16:00

Korea spends over $84.6 bil. on R&D in 2022: science ministry

Korea spends over $84.6 bil. on R&D in 2022: science ministry

Korea invested more than 112 trillion won ($84.6 billion) in research and development (R&D) last year, making it the second-largest spender in the world in comparison to the size of its economy, the science ministry said Thursday.

2023-12-07 14:11

Household owes more than $68,260 in debt in 2023: data

Household owes more than $68,260 in debt in 2023: data

Korean household owes more than 90 million won ($68,260) on average to banks and other financial companies this year as people borrowed to buy homes and cover living expenses, data showed Thursday.

2023-12-07 13:29

Korean economy shows signs of gradual recovery: KDI

Korean economy shows signs of gradual recovery: KDI

The Korean economy is showing signs of a gradual easing of an economic downturn led by rising exports, but domestic consumption and investment remain weak amid high interest rates, a state-run think tank said Thursday.

2023-12-07 13:23

Scholar's decades-long expertise serves as inspiration for Korea's future FDI

Scholar's decades-long expertise serves as inspiration for Korea's future FDI

Ahn Choong-yong, a distinguished professor at Chung-Ang University’s Graduate School of International Studies, showcases a culmination of several decades of expertise in foreign direct investment (FDI) in his recently published book.

2023-12-07 10:53

Foreign investors turned to net buyers of Korean stocks in November

Foreign investors turned to net buyers of Korean stocks in November

Foreign investors turned to net buyers of Korean stocks last month, ending their three-month selling spree, data showed Thursday.

2023-12-07 09:35

Corporate loan growth accelerates for 2nd straight quarter in Q3

Corporate loan growth accelerates for 2nd straight quarter in Q3

Corporate loan growth in Korea picked up for the second straight quarter in the third quarter from three months earlier, central bank data showed Wednesday, as companies favored loans over debt sales amid high market rates.

2023-12-06 15:15

Korea, Britain finance chiefs discuss economic dialogue, investment ties

Korea, Britain finance chiefs discuss economic dialogue, investment ties

The finance ministers of Korea and Britain on Tuesday discussed the establishment of a bilateral economic dialogue and investment cooperation channels as follow-up measures to last month's summit of their leaders, Seoul's finance ministry said.

2023-12-05 21:01

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