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Thu, March 30, 2023 | 14:33

Korea to extend anti-dumping tariffs on Chinese, Indonesian PET film

Korea to extend anti-dumping tariffs on Chinese, Indonesian PET film

Korea's trade watchdog said Thursday it has decided to recommend the government extend anti-dumping tariffs on PET film imported from China and Indonesia, citing substantial damage to the local industry.

2023-02-23 14:36

BOK freezes rate, lowers growth outlook amid economic uncertainty

BOK freezes rate, lowers growth outlook amid economic uncertainty

Korea's central bank on Thursday kept the benchmark interest rate unchanged for the first time in 10 months as worries are growing that aggressive monetary tightening could hurt economic growth.

2023-02-23 10:14

Inflation, joblessness exacerbate Koreans' economic distress

Inflation, joblessness exacerbate Koreans' economic distress

The degree of economic distress felt by Koreans has exacerbated quickly, as a toxic mixture of high inflation and unemployment deals a blow to their daily lives, data showed Wednesday. Released by Rep. Kim Hoi-jae of the main opposition Democratic Party of Korea (DPK), the economic misery index - a measurement of the financial well-being of a country's citizens calculated by ...

2023-02-22 16:49

'Be secure, frugal': Hana investment trends report

'Be secure, frugal': Hana investment trends report

Koreans are likely to look for more secure and thrifty ways to invest in 2023 amid high inflation, costly borrowing rates and slow economic growth adding to people's woes, a report said Wednesday. Released by Hana Institute of Finance, the report also urged financial services companies to adopt a more efficient mix of in-person and offline services in the post-pandemic era wh...

2023-02-22 16:43

Financial regulators launch task force to break banks' oligopoly

Financial regulators launch task force to break banks' oligopoly

Financial authorities made it official Wednesday their moves to bring in more competition in the local banking sector, aiming to break the current oligopoly enjoyed by the five major commercial banks. Citing the current oligopoly structure as harmful to customers' and utility, the authorities suggested the need to lower the hurdle of banking licenses for new entrants.

Anna J. Park | 2023-02-22 16:36

Korea's external debt up $32 bil. in end-2022: data

Korea's external debt up $32 bil. in end-2022: data

Korea's external debt increased $32.1 billion as of end-2022 from a year earlier, government data showed Wednesday, led by both short and long term loans.

2023-02-22 13:54

Most Korean bond experts eye rate freeze in February: poll

Most Korean bond experts eye rate freeze in February: poll

A majority of bond mavens in Korea expect the country's central bank to leave its key interest unchanged in its monetary policy meeting this week, a poll showed Tuesday.

2023-02-21 17:00

BOK to consider growth in setting monetary policy direction after raising rates to 'restrictive' level

BOK to consider growth in setting monetary policy direction after raising rates to 'restrictive' level

The Bank of Korea (BOK) has raised its interest rate to a "restrictive" level over the past few years and future monetary policy decisions will be made after closely analyzing not just inflation but also economic growth and other various factors, the central bank said Tuesday.

2023-02-21 15:22

Household credit shrinks at sharpest pace in 13 years in Q4 amid high borrowing costs

Household credit shrinks at sharpest pace in 13 years in Q4 amid high borrowing costs

Korea's household credit shrank at the sharpest pace in 13 years in the fourth quarter of 2022 amid high interest rates driven by the central bank's monetary tightening to bring down inflation, data showed Tuesday.

2023-02-21 15:22

Exports fall 2.3% during first 20 days of Feb. on weak chip demand

Exports fall 2.3% during first 20 days of Feb. on weak chip demand

Korea's exports fell 2.3 percent on-year in the first 20 days of February, data showed Tuesday, as the sluggish global demand for chips offset strong shipments of automobiles.

2023-02-21 11:21

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