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Economy

Fri, February 3, 2023 | 15:26

US rate hike, high inflation throw BOK into dilemma

US rate hike, high inflation throw BOK into dilemma

The Bank of Korea (BOK) is facing a dilemma over whether it should keep increasing its policy rate, as the U.S. Federal Reserve is poised to deliver additional rate hikes following a 25-basis-point hike, Thursday (KST).The Fed's quarter-percentage-point increment puts the U.S. base rate in a range between 4.50 percent and 4.75 percent, as compared to Korea's 3.5 percent, and ...

Yi Whan-woo | 2023-02-02 16:21

US Fed unveils smaller rate hike but signals inflation fight not over

Korea's consumer prices up 5.2% in Jan. on higher energy costs

Korea's consumer prices up 5.2% in Jan. on higher energy costs

Korea's on-year growth in consumer prices accelerated from the previous month in January as energy costs shot up to a record level, data showed Thursday, amid expectations inflation will gradually slow throughout 2023.

2023-02-02 09:41

[INTERVIEW] IMF expects no recession for Korean economy

INTERVIEWIMF expects no recession for Korean economy

A high-ranking official from the International Monetary Fund (IMF) says that the likelihood of a recession in the Korean economy this year is slim, as China's COVID-19 reopening will provide the impetus for growth. In an interview with The Korea Times in Seoul, Tuesday, IMF Deputy Managing Director Gita Gopinath forecast that the Korean economy will continue to stay in the do...

Yi Whan-woo | 2023-02-02 08:58

BIS economist says weak dollar could provide boon for Korea's trade

BIS economist says weak dollar could provide boon for Korea's trade

A weak dollar could serve as a boon for Korea's trade going forward as it provides better financing conditions for businesses, an economist at the Bank for Intentional Settlements (BIS) said Wednesday.

2023-02-01 15:46

Income gap widening among workers

Income gap widening among workers

Salaried workers' income gap has widened for the past couple of years after the economy was hit by the outbreak of the COVID-19 pandemic, data showed Wednesday. The National Tax Service (NTS) data submitted to the office of Rep. Jin Sun-mee of the main opposition Democratic Party of Korea showed that salaried employees in the top 20 percent bracket earned 15.1 times more than...

Lee Min-hyung | 2023-02-01 15:29

Korea's trade balance set to improve gradually: finance minister

Korea's trade balance set to improve gradually: finance minister

Finance Minister Choo Kyung-ho said Wednesday that Korea recorded a trade deficit last month due to higher energy imports, but its trade performance is anticipated to gradually improve down the road on the back of China's reopening.

2023-02-01 10:45

Korea's trade deficit hits record high amid falling exports

Korea's trade deficit hits record high amid falling exports

Korea's exports logged an on-year decline for the fourth consecutive month in January on weak global demand for semiconductors and other items amid an economic slowdown, the industry ministry said Wednesday.

2023-02-01 09:36

2 monetary policymakers wanted time to gauge impact of tightening: minutes

2 monetary policymakers wanted time to gauge impact of tightening: minutes

Two top central bank policymakers expressed worries over the impact of previous rate hikes on the overall economy and wanted to stay put at this year's first rate-setting meeting early this month, minutes of the gathering showed Tuesday.

2023-01-31 17:25

Korean corporations' dividend payout system to follow global standards

Korean corporations' dividend payout system to follow global standards

Investors will be able to decide next year whether to buy the stocks of Korean companies based on the exact size of their dividend payouts, just like in major financial markets' dividend payout systems such as in the U.S. and France.

Anna J. Park | 2023-01-31 16:17

Financial authorities to ease rule on separation of industrial and financial capital in H1

Financial authorities to ease rule on separation of industrial and financial capital in H1

Financial authorities to ease rule on separation of industrial and financial capital in H1

The Financial Services Commission (FSC), Korea's top financial regulator, has vowed to push forward to ease the country's long-held separation of industrial and financial capital during the first half of this year. It aims to open the gate for both local and global financial firms to extend further to non-financial businesses.

Anna J. Park | 2023-01-31 16:12

Korean corporations' dividend payout system to follow global standards

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