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Finance

Economy

Thu, December 3, 2020 | 06:36

'Too early to talk about economic recovery'

'Too early to talk about economic recovery'

Consumer prices jumped 0.6 percent in November, the second consecutive month of an increase below 1 percent, increasing concerns that the COVID-19 pandemic-triggered slowdown in local demand will not recover any time soon.

Lee Kyung-min | 2020-12-02 16:52

Korea's economic recovery momentum gains traction: finance minister

Korea's economic recovery momentum gains traction: finance minister

The South Korean economy is seeing its recovery momentum gain traction on improving exports, the finance minister said Wednesday. Finance Minister Hong Nam-ki also pledged the government's efforts to continue to prop up an economic recovery into the fourth quarter and next year.

2020-12-02 10:28

Korea's consumer prices grow at faster pace in November

Korea's consumer prices grow at faster pace in November

Korea's consumer prices grow at faster pace in November

South Korea's consumer prices grew at a faster pace in November than a month earlier as prices of agricultural products and service charges went up, data showed Wednesday. The consumer price index rose 0.6 percent on-year last month, compared with a 0.1 percent on-year gain in the previous month, according to the data by Statistics Korea.

2020-12-02 10:18

Korea's economic recovery momentum gains traction: finance minister

Bitcoin surges past $19,800, approaching record territory

Bitcoin surges past $19,800, approaching record territory

The price of digital currency Bitcoin hit a 2020 high Monday, peaking at over $19,800 per digital coin, after dropping below $17,000 on Friday. The price of the crypto token has been rallying for several weeks, increasing by more than 170% in value in this year.

2020-12-01 13:58

South Korea's economy grows faster than estimated at 2.1 percent in Q3: Bank of Korea

South Korea's economy grows faster than estimated at 2.1 percent in Q3: Bank of Korea

South Korea's economy expanded at a faster-than-estimated pace in the third quarter on the back of a modest recovery in exports amid the coronavirus pandemic, central bank data showed Tuesday. The country's real gross domestic product (GDP) grew 2.1 percent in the July-September period from the previous quarter, according to the data from the Bank of Korea (BOK).

2020-12-01 11:57

Tightening consumption to hurt rebound momentum

Tightening consumption to hurt rebound momentum

Consumption contracted in October, a troubling indication that the economy is likely to take a turn for the worse following the recent implementation of strengthened social distancing rules certain to chill consumer sentiment, data showed Monday.

Lee Kyung-min | 2020-11-30 16:39

Manufacturing job losses trouble Korea

Manufacturing job losses trouble Korea

The manufacturing sector shed 65,000 jobs in the second quarter from a year earlier, a highly worrisome downtrend that has continued for the past few quarters driven by the U.S.-China trade feud-oriented economic slowdown compounded further by the COVID-19 pandemic, government data showed Thursday.

Lee Kyung-min | 2020-11-26 16:28

[Contribution] Strategy of Korea's tax administration post-COVID-19

[Contribution] Strategy of Korea's tax administration post-COVID-19

The COVID-19 pandemic has been sending shockwaves through the world's economy. The economic situation has been exacerbated as countries' travel restrictions have led to decreased production and consumption, a slowdown in global economic growth and trade, and a decline in employment.

2020-11-25 17:14

Consumer sentiment on housing prices hike hits record high

Consumer sentiment on housing prices hike hits record high

Korean consumers showed record-high expectations of a hike in housing prices in November, indicating the failure of the dozens of government real estate policies put in place since President Moon Jae-in took office, central bank data showed Tuesday.

Lee Kyung-min | 2020-11-24 16:36

Will Moon replace controversial housing minister?

'Alone in the dark': Small businesses reel from new virus clampdown

'Alone in the dark': Small businesses reel from new virus clampdown

A new round of social distancing rules took effect on Tuesday in the South Korean capital of Seoul, dealing a blow to small business owners despite brighter hopes for economic recovery after earlier success in battling the coronavirus. The measures range from closures of nightclubs and karaoke bars and curbs on eating in cafes and restaurants to fewer nighttime public transit...

2020-11-24 15:00

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