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The Korea Times

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Asia

The Korea Times

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Economy

Thu, March 30, 2023 | 14:26

Inflation cools to 4% range for 1st time in 10 months

Inflation cools to 4% range for 1st time in 10 months

Consumer prices in Korea eased to the 4-percent level for the first time in 10 months in February, raising hopes that inflation will cool down further to the government's 2023 target of the mid-3 percent range. But Korea continues to face obstacles in its efforts to curb inflation, as the growth of utility costs reached an all-time high of 28.4 percent, while core inflation _...

Yi Whan-woo | 2023-03-06 16:20

Korea to halt WTO dispute settlement process on Japan's export curbs: industry ministry

Korea to halt WTO dispute settlement process on Japan's export curbs: industry ministry

Korea has decided to halt a process of its complaint with the World Trade Organization (WTO) on Japan's export controls of key industry materials to Seoul as they prepare to launch official talks on the lifting of the restrictive measures, Seoul's industry ministry said Monday.

2023-03-06 15:31

S. Korea offers compensation for forced labor victims via Seoul-based public foundation

Chips' inventory-to-sales ratio hits near 26-year high amid sluggish demand

Chips' inventory-to-sales ratio hits near 26-year high amid sluggish demand

Inventory of Korean chipmakers has increased to a nearly 26-year high in January, data showed Sunday, reflecting the sluggish global demand amid the economic uncertainties.

2023-03-05 11:07

Regulators to allow shareholders to check banks' compensation plans

Regulators to allow shareholders to check banks' compensation plans

As the government is speeding up its moves to promote competition in the local banking industry, it plans to adopt a system of “say on pay,” through which shareholders of a firm can vote on the payment and remuneration policies for executives.

Anna J. Park | 2023-03-03 16:16

Gov't campaign against oligopoly raises hope for online, regional banks

Gov't campaign against oligopoly raises hope for online, regional banks

The government's campaign to break up the banking industry's oligopoly is fueling optimism among digital and regional lenders that regulatory barriers will be lowered for them to expand their presence against larger competitors.

Yi Whan-woo | 2023-03-03 16:08

Europe inflation eases slightly but consumer pain persists

Europe inflation eases slightly but consumer pain persists

Inflation eased only slightly in the 20 countries that use the euro currency as the pain from higher costs for food and fuel persists and gives the European Central Bank no reason to slow interest rate increases aimed at getting prices back under control.The consumer price index reached 8.5 percent in February compared with a year earlier, a drop from 8.6 percent in January, ...

2023-03-02 20:26

Was Bank of Korea too hasty in key rate freeze?

Was Bank of Korea too hasty in key rate freeze?

Fears of a widening interest rate gap between the Bank of Korea (BOK) and the U.S. Federal Reserve are rattling financial markets here after what appears to be a “prematurely dovish” decision by the BOK. The Korean central bank froze its key rate at 3.5 percent on Feb. 23 amid escalating recession fears and a real estate meltdown.

Lee Min-hyung | 2023-03-02 16:54

Statistics Korea chief named UN stats body's vice chair

Statistics Korea chief named UN stats body's vice chair

Han Hoon, the chief of the Korean government's statistics agency, has been appointed as the second-highest-ranking official of the United Nations' top decision-making body on international statistics activities. Statistics Korea announced on Thursday that the Statistics Korea commissioner has been elected as vice chair of the U.N. Statistical Commission during its 54th sessio...

Yi Whan-woo | 2023-03-02 15:34

Industrial output up 0.5% in Jan.; retail sales down for 3rd month

Industrial output up 0.5% in Jan.; retail sales down for 3rd month

Korea's industrial output edged up 0.5 percent on-month in January, while retail sales extended losses to a third month, data showed Thursday.

2023-03-02 09:58

S. Korea, China to boost cooperation in trade, investments

S. Korea, China to boost cooperation in trade, investments

Senior trade officials of South Korea and China discussed ways Wednesday to enhance exchanges and cooperation on supply chains, bilateral trade and investment and to create favorable business circumstances, Seoul's trade ministry said. The discussions were made during a meeting between South Korea's Deputy Trade Minister Jeong Dae-jin and Li Fei, China's assistant minister of...

2023-03-01 20:49

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