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Economy

Thu, March 30, 2023 | 14:55

BOK to keep restrictive monetary policy 'for considerable period of time'

BOK to keep restrictive monetary policy 'for considerable period of time'

The Bank of Korea (BOK) said Thursday it will keep the current restrictive monetary policy stance "for a considerable period of time" and determine whether to push for additional rate hikes down the road with priority placed on price stability.

2023-03-09 13:41

Korean economy gradually feeling pinch of rate hikes: KDI

Korean economy gradually feeling pinch of rate hikes: KDI

Private spending and construction investment in Korea are gradually being affected by aggressive rate hikes amid high inflation, a state-run think tank said Wednesday.

2023-03-08 17:50

Korea-Saudi cooperation

Korea-Saudi cooperation

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho, left, shakes hands with Saudi Minister of Finance Mohammed bin Abdullah Al-Jadaan ahead of their meeting at Government Complex Seoul, Wednesday. The two discussed cooperation in tackling global issues such as the low-carbon economy as well as Saudi's Vision 2030. Courtesy of Ministry of Economy and Finan...

2023-03-08 14:24

Savings institutions' industrial loans grow at slower pace in Q4

Savings institutions' industrial loans grow at slower pace in Q4

Korean savings institutions' loans continued to grow in the fourth quarter but at a slower pace than three months earlier due to stepped-up efforts to monitor the soundness of borrowers, central bank data showed Wednesday.

2023-03-08 14:07

Korea to spend 70% of budget for job creation in H1: finance minister

Korea to spend 70% of budget for job creation in H1: finance minister

Korea plans to speed up spending the employment-related budget in the first half of 2023 amid signs of a slowdown in the job market, the finance minister said Wednesday.

2023-03-08 09:42

Korea's per capita income falls sharply on won's depreciation

Korea's per capita income falls sharply on won's depreciation

Korea's gross national income (GNI) per capita dropped nearly 8 percent last year, mainly due to a sharp depreciation of the Korean won against U.S. dollar, the Bank of Korea (BOK) said Tuesday. GNI, which measures a country's wealth, is the amount of money earned by its people and businesses at home and abroad. It is comparable to gross domestic product (GDP), another gauge ...

Yi Whan-woo | 2023-03-07 16:41

Why are women paid less than men in Korea?

Why are women paid less than men in Korea?

A human resources expert with seven years of work experience in the field recently stirred controversy in an online community. The woman, identified only by her surname Kim, wrote in a posting that she had quit her job at one of the country's leading conglomerates to take care of her child.

Lee Yeon-woo | 2023-03-07 14:22

Imports of Japanese beer hit over 3-year high

Imports of Japanese beer hit over 3-year high

Korea's imports of Japanese beer hit the highest level in more than three years in January amid a waning anti-Japan campaign here, data showed Tuesday.

2023-03-07 14:15

Korea's growth sharply slows in 2022 amid recession woes: BOK data

Korea's growth sharply slows in 2022 amid recession woes: BOK data

Korea's economic growth sharply slowed in 2022 as exports weakened amid growing recession woes stemming from aggressive monetary tightening at home and abroad, central bank data showed Tuesday.

2023-03-07 09:21

Korea posts record trade surplus for cultural products

Korea posts record trade surplus for cultural products

Korea posted a record trade surplus for cultural products and services in 2022, amid the growing popularity of K-pop plus TV dramas and movies on streaming services. According to the Bank of Korea (BOK), Monday, the balance of payments for sales of cultural products amounted to $1.7 billion in 2022, up 47.9 percent from a year earlier.

Yi Whan-woo | 2023-03-07 08:31

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