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The Korea Times

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Economy

Sun, October 1, 2023 | 09:06

Korean housing still overpriced: BOK

Korean housing still overpriced: BOK

The Bank of Korea (BOK) raised concerns, Thursday, that the housing market in Korea remains overpriced compared to people's incomes. According to the central bank, the average household would need to save 26 years of annual income to afford a home.

2023-09-14 15:17

BOK to keep restrictive stance, review need for further rate hike

BOK to keep restrictive stance, review need for further rate hike

Korea's central bank said Thursday it will continue to maintain its current restrictive policy stance, given still high inflation, while judging whether an additional rate hike is needed.

2023-09-14 13:50

Korea's imports of Chinese urea go without hitch: industry ministry

Korea's imports of Chinese urea go without hitch: industry ministry

Korea has imported urea from China normally and the domestic supply remains stable, Seoul's industry ministry said Thursday, dismissing concerns of a shortage over some exporters' recent cut in shipments of the industry substance.

2023-09-14 13:39

Korea's ICT exports fall for 14th straight month in Aug.

Korea's ICT exports fall for 14th straight month in Aug.

Korea's exports of information and communication technology (ICT) products extended their losing streak to 14 months in August but fell at the slowest clip in about 10 months, government data showed Thursday.

2023-09-14 11:29

Statistics Korea to help boost Africa's statistical capabilities

Statistics Korea to help boost Africa's statistical capabilities

Statistics Korea signed an MOU with the African Development Bank (AfDB) to support the continent achieve the U.N. Sustainable Development Goals (SDGs) and make scientific decisions based on statistical capabilities.

2023-09-13 16:48

Korea pledges to offer $6 billion for 2024-25 Africa cooperation

Korea pledges to offer $6 billion for 2024-25 Africa cooperation

BUSAN - Korea will offer $6 billion over the next two years in a financial aid package for Africa, the Ministry of Economy and Finance said Wednesday.

2023-09-13 16:34

Korea and Africa partner on sustainable agriculture and bio health projects

Korea and Africa partner on sustainable agriculture and bio health projects

Korea and Africa partner on sustainable agriculture and bio health projects

BUSAN_ Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho proposed innovative agricultural methods, bio health and climate change response as three areas of cooperation between Korea and African countries to strengthen solidarity in his opening speech at the 2023 Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference in Busan, Wednesday.

2023-09-13 16:33

Korea pledges to offer $6 billion for 2024-25 Africa cooperation

Industry minister nominee blames anti-nuclear energy policy for KEPCO's rising debt

Industry minister nominee blames anti-nuclear energy policy for KEPCO's rising debt

The controversial nuclear phase-out policy pushed by the previous Moon Jae-in administration is one of the main culprits for snowballing debt at Korea Electric Power Corp. (KEPCO), the state-run utility firm, Minister of Trade, Industry and Energy nominee Bang Moon-kyu told lawmakers, Wednesday.

2023-09-13 16:28

Bank-issued household loans up sharpest amount in over 2 years in August

Bank-issued household loans up sharpest amount in over 2 years in August

With the country's monthly household loans on a steady increase, bank loans in August showed a rise of 6.9 trillion won ($5.1 billion) from the previous month to date. The increase in August is the highest monthly margin over the past two years and any single month-to-month period, since it reached 9.7 trillion won in July 2021.

Anna J. Park | 2023-09-13 16:04

Bank of Korea struggles to retain workforce due to uncompetitive salaries

Bank of Korea struggles to retain workforce due to uncompetitive salaries

Once considered a coveted position for the highly educated, the Bank of Korea (BOK) is now struggling to retain its workers, according to data released on Wednesday.

2023-09-13 15:17

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