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Finance

Economy

Wed, July 6, 2022 | 03:03

Korea runs trade deficit with China

Korea suffered a deficit in trade with China in June, remaining in the red for the second straight month. The lackluster performance reversed Korea's trade surplus with China that lasted for nearly three decades. According to the trade ministry earlier this month, the nation's trade balance with China registered a monthly deficit of $1.21 billion in June, following the previo...

Anna J. Park | 2022-07-03 16:13

Can Chinese demand cushion blow of US recession on Asian economies?

HONG KONG - Record-high inflation, aggressive rate hikes and stock market chaos have stoked concern that the U.S. economy could slip into recession, causing a growth slump in other parts of the world. In Asia, eyes are also fixed on China, with some wondering whether the world's No. 2 economy will be able to act as a buffer against a potential contraction in the U.S. China ha...

Kim Bo-eun | 2022-07-03 11:05

Trade deficit hits record high in H1

Korea's exports rose 5.4 percent on-year in June on solid demand for chips and petroleum products, but the country extended its trade deficit for the third consecutive month due to high global energy prices, data showed Friday.

2022-07-01 10:50

Korea's industrial output, investment rebound in May

Korea's industrial output and facility investment rebounded in May from the previous month in the latest sign that Asia's fourth-largest economy is maintaining mild recovery momentum amid heightened external uncertainty, data showed Thursday.

2022-06-30 14:31

Summer electricity demand forecast to creep up over heat wave

Korea's electricity demand over this summer is forecast to rise higher than the level a year earlier due to hotter-than-usual weather conditions, the industry ministry said Thursday.

2022-06-30 14:30

Gov't braces for soaring power demand in summer

Business sentiment worsens for July amid inflation, recession woes

Korea's business sentiment worsened for July amid deepening concerns over high raw materials prices and a global economic downturn, a central bank poll showed Thursday.

2022-06-30 10:11

Finance ministry, World Bank co-host Seoul forum for developing countries

The Ministry of Economy and Finance co-hosted a forum with the World Bank in Seoul, Wednesday, to discuss their cooperation on innovation and digital technology for developing countries. The ministry said the two sides assessed ongoing projects under the Korea-World Bank Partnership Facility (KWPF), a joint initiative established in May 2013 with an objective of helping devel...

Yi Whan-woo | 2022-06-29 16:38

Looming 'big-step' rate hike heightens jitters among borrowers

Bank customers who took out loans are under mounting pressure to redeem their debt due to the growing possibility of the Bank of Korea (BOK) taking an unprecedented “big step” on the key interest rate. Almost eight out of 10 customers who borrowed money in Korea took out the loans on a floating interest rate, which tracks the benchmark interest rate. This means the more the b...

Yi Whan-woo | 2022-06-29 16:38

BOK likely to lean more toward 'big-step' rate hike if June inflation hits 6%

Demand for an unprecedented "big-step" rate hike among policymakers at the Bank of Korea (BOK) will likely intensify ahead of an upcoming rate-setting meeting should the country's consumer prices rise 6 percent or higher in June, according to a high-ranking central bank official.

2022-06-29 09:57

Inflation expectations in S. Korea hit 10-year high in June

Inflation expectations in Korea hit the highest level in about a decade in June amid worries that prices are fast increasing due to high energy and commodity costs, a central bank report showed Wednesday.

2022-06-29 08:39

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