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Finance

Economy

Thu, September 24, 2020 | 20:22

Forecasting Korean economy

Forecasting Korean economy

French Korean Chamber of Commerce and Industry (FKCCI) Chairman David-Pierre Jalicon, third from left, poses with French Embassy in Korea Economic Department Head Michel Drobniak, fourth from left, and other speakers of the Economic Forecasts 2020 event held online on Monday. The FKCCI said participants shared optimism about Korea's ability to rebound quickly and mitigate the...

Nam Hyun-woo | 2020-09-16 15:42

Seoul shares to encounter volatility in coming week

Seoul shares to encounter volatility in coming week

Shares here shares are likely to trade in a tight range in the coming week on valuation concerns, analysts said Saturday.

2020-09-12 13:34

Virus exacerbates job market woes

Virus exacerbates job market woes

The COVID-19 pandemic continued to trouble the Korean job market in August, illustrated by the monthly job loss extending for the sixth consecutive month, a record-long continuation since the period from January to August in 2009 in the aftermath of the global financial crisis.

Lee Kyung-min | 2020-09-09 17:06

Korea loses 274,000 jobs in August

Korea loses 274,000 jobs in August

South Korea lost about 274,000 jobs in August, marking a decline in the number of the employed for the sixth consecutive month, as the coronavirus pandemic hammered job markets, data showed Wednesday. The country's jobless rate rose by 0.1 percentage point on-year to 3.1 percent in August, with the number of employed people falling to 27.08 million, according to the data comp...

2020-09-09 11:38

Virus to take heavy toll on Korean economy

Virus to take heavy toll on Korean economy

The economy is expected to bear the full brunt of the recent flare-up of COVID-19 infections, as evidenced by continued downward revisions regarding growth, compounded by deteriorating fiscal soundness following four extra budgets drawn up for emergency relief.

Lee Kyung-min | 2020-09-08 17:08

No. of self-employed tumbles amid pandemic

No. of self-employed tumbles amid pandemic

The number of self-employed people in South Korea has fallen at a far faster pace in 2020 than last year in the wake of the coronavirus outbreak, data showed Tuesday. Asia's fourth-largest economy had 5.548 million self-employed people as of the end of July, down 127,000 from the same month a year earlier, according to the data from the Korea Small Business Institute and Stat...

2020-09-08 11:37

Seoul stocks trim losses late Friday morning

Seoul stocks trim losses late Friday morning

South Korean shares slightly trimmed earlier losses late Friday morning, but continued to trade bearish over an overnight plunge on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) fell 35.93 points, or 1.5 percent, to 2,359.97 as of 11:20 a.m.

2020-09-04 13:15

Korean economy shrinks 3.2% on-quarter in Q2: Bank of Korea

Korean economy shrinks 3.2% on-quarter in Q2: Bank of Korea

South Korea's economy shrank at a slower-than-estimated pace in the second quarter from three months earlier amid the COVID-19 pandemic, central bank data showed Tuesday. The country's real gross domestic product (GDP) contracted 3.2 percent in the April-June period from the previous quarter, according to preliminary data from the Bank of Korea (BOK). The 3.2 percent contract...

2020-09-01 09:10

Lockdown-level social distancing takes heavy toll on economy

Lockdown-level social distancing takes heavy toll on economy

"The Aug. 15 rally nearly destroyed my business,” said a man surnamed Kim, an owner of a traditional Korean eatery in Jongno, downtown Seoul.

Lee Kyung-min | 2020-08-31 17:01

Small business owners striving to survive coronavirus crisis

Small business owners striving to survive coronavirus crisis

Like many other self-employed professionals here, Julia Mellor, an Australian specialist in traditional Korean alcoholic drinks, is striving hard to keep her business running, under COVID-19 and strict social distancing restrictions. However, Mellor couldn't just wait for the pandemic to be over; she has responded to the drawn-out unpredictability by resetting her business mo...

2020-08-29 09:41

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