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Finance

Economy

Tue, September 21, 2021 | 22:42

OECD ups 2021 growth outlook for Korean economy to 4 percent

The Organization for Economic Cooperation and Development (OECD) raised its 2021 growth outlook for the South Korean economy to 4 percent Tuesday amid the country's strong exports and fiscal support.

2021-09-21 20:38

Uncertainty lingers over private spending recovery: ministry

The South Korean economy is facing continued uncertainty about the recovery of domestic demand as the latest resurgence in COVID-19 cases is denting person-to-person service sectors, the finance ministry said Friday.

2021-09-17 10:44

Job growth slows in Aug. amid resurgence of COVID-19

South Korea reported job additions for the sixth straight month in August, but the growth pace slowed as employment at in-person service sectors was hit by the fourth wave of the pandemic, data showed Wednesday.

2021-09-15 08:54

Will China's slumping recovery affect Korea's chip exports?

Opinions are split over whether recent signs of a slowdown in China's recovery are signaling the beginning of a peak-out of Korea's semiconductor exports, one of the few growth drivers underpinning the economic recovery here amid the COVID-19 pandemic.

Lee Kyung-min | 2021-09-13 16:34

Exports rise 31% in first 10 days of September

South Korea's exports rose 30.7 percent on-year in the first 10 days of September on the back of robust demand for petroleum products and autos, customs data showed Monday.

2021-09-13 09:21

Delta variant leads to protracted tightening of private consumption

Tightened private spending sparked by an increase in COVID-19 infections by the Delta variant is expected to continue throughout the latter half of the year, adding pressure on the Bank of Korea to refrain from a further key rate hike.

Lee Kyung-min | 2021-09-10 16:16

Policy failure to tame soaring home prices brings social mobility crisis

Every year since his inauguration in 2017, President Moon Jae-in has vowed in his New Year's speech to narrow the income gap between the rich and poor and to provide a chance for low-income households to move up the ladder of socioeconomic mobility. However, the gap has widened drastically due to the government's failure to tame soaring housing prices. Those who listened to t...

Yoon Ja-young | 2021-09-09 15:41

Korea's potential economic growth rate on rapid decline

Korea's potential economic growth rate is on a steeper-than-feared decline, impacted heavily by a reduction, or outright loss, of employment as well as an overall drop in labor productivity in the services industries due to the COVID-19 pandemic.

Lee Kyung-min | 2021-09-09 08:40

State pensions face mounting calls for reform

Calls are expected to grow for the reform of four state-run pension funds, as nearly 60 trillion won ($51 billion) will be allocated for public spending next year, up 6.2 percent from this year's 55.8 trillion won.

Lee Kyung-min | 2021-09-05 16:35

'The window to avoid catastrophic climate change is closing soon': DNV report

A recent report about energy transition from DNV - a Norway-headquartered global accredited registrar and quality assurance operating in more than 100 countries - has warned that even if all electricity was “green” from this day forward, the world will still fall short of achieving the 2050 net zero emissions goal of the Paris Agreement, adopted at 2015 United Nations Climate...

Anna J. Park | 2021-09-03 17:36

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