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Economy

Thu, November 30, 2023 | 14:03

Consumer sentiment slides for 3rd month in October amid slowdown woes

Consumer sentiment slides for 3rd month in October amid slowdown woes

Korea's consumer sentiment slid for the third straight month in October amid woes over an economic slowdown, slumping exports and weakened spending power, a central bank poll showed Wednesday.

2023-10-25 07:42

Korea to mull extending tariff-rate quota on raw sugar amid global price volatility

Korea to mull extending tariff-rate quota on raw sugar amid global price volatility

Korea's agriculture ministry said Tuesday it will continue consulting with related ministries to extend the tariff-rate quota system currently applied to raw sugar, amid global price volatility.

2023-10-24 14:57

Exports up 4.6% during first 20 days of October

Exports up 4.6% during first 20 days of October

Korea's exports rose 4.6 percent on-year in the first 20 days of October on robust shipments of cars and petroleum products, data showed Monday.

2023-10-23 10:10

FSS recruits experienced lawyers, accountants to strengthen market inspections

FSS recruits experienced lawyers, accountants to strengthen market inspections

The Financial Supervisory Service (FSS) will be completing the recruitment of a maximum of 25 experienced lawyers and accountants by the end of this month, which is the most extensive recruitment drive carried out by the state-run supervisory agency at any one time to hire in-house professionals.

2023-10-20 17:09

Finance minister calls for R&D budget restructuring to boost efficiency, innovation

Finance minister calls for R&D budget restructuring to boost efficiency, innovation

Finance Minister Choo Kyung-ho stressed the need Friday to reform state-sponsored scientific research and development (R&D) projects to better focus on 'innovative, longer-term' programs in response to the criticism of the government's substantial budget cut for next year.

2023-10-20 16:14

Number of beef cattle at Korean farms down in Q3

Number of beef cattle at Korean farms down in Q3

The number of beef cattle edged down on-year in the third quarter of 2023, data showed Friday, as farmers reduced the number of cows raised to deal with falling prices.

2023-10-20 14:42

Korea braces for continuation of high global interest rates: finance minister

Korea braces for continuation of high global interest rates: finance minister

Major economies are expected to keep their interest rates higher for longer than expected to tame inflation, and Korea is preparing for policy buffers to handle various external uncertainties, the finance minister said Friday.

2023-10-20 14:10

US recession, China's downturn to slow Korean economic recovery: Fitch

US recession, China's downturn to slow Korean economic recovery: Fitch

The Korean economy is forecast to be on a recovery track next year but the pace will be 'very gradual' as China's significant economic slowdown and a recession in the United States would hinder the growth of its exports, a senior Fitch Ratings analyst said Friday.

2023-10-20 14:10

State-run firm to release strategic oil reverses if Middle East conflict escalates

State-run firm to release strategic oil reverses if Middle East conflict escalates

Korea's state-run oil company said Friday it is inspecting the readiness of local storage facilities to prepare for a potential release of reserves should the ongoing Middle East crisis escalate.

2023-10-20 10:10

Israel-Hamas war feared to push up inflation, affect broader economy: finance minister

Israel-Hamas war feared to push up inflation, affect broader economy: finance minister

Geopolitical risks stemming from the conflict between Israel and the Palestinian militant group Hamas are feared to cause a flare-up in inflation and ripple effects for the Korean financial market and the real economy, the finance minister said Thursday.

2023-10-19 10:56

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