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Finance

Economy

Thu, October 28, 2021 | 20:04

Korea on track for faster economic recovery

Korea added over 600,000 jobs in May, marking two-straight months of growth, aided by recoveries in exports and private consumption, no additional strengthening of social distancing measures and a low base effect from a year earlier, according to government data released Wednesday.

Lee Kyung-min | 2021-06-09 16:26

World Bank sees 5.6% global growth in 2021, best since 1973

The World Bank is upgrading the outlook for global growth this year, predicting that COVID-19 vaccinations and massive government stimulus in rich countries will power the fastest worldwide expansion in nearly five decades.

2021-06-09 13:49

Job additions stretched to 3rd month in May

South Korea reported job growth for the third straight month in May, data showed Wednesday, in the latest sign that the job market is recovering from slumps caused by the pandemic.

2021-06-09 09:40

Current account surplus sharply narrows in April on higher oil prices

South Korea's current account surplus sharply narrowed in April as higher oil prices increased the country's import bill, the central bank said Tuesday.

2021-06-08 09:48

Korean economy recovering at modest pace on reviving consumption: KDI

The South Korean economy is on a modest recovery track as exports remain robust and a slump in private consumption has eased, a state-run think tank said Monday. The country's exports and facility investment have expanded amid a global economic recovery, while sluggishness in consumption has eased, according to a monthly economic assessment report by the Korea Development Ins...

2021-06-07 14:51

Salaried workers frustrated due to inflation

Salaried workers are increasingly feeling the pinch of “inflation,” as clearly indicated by a surge in prices of goods and services as well as interest rates.

Lee Kyung-min | 2021-06-03 16:36

President's economic policy architect sworn in as new KDI chief

Hong Jang-pyo, architect of the Moon Jae-in administration's income-led growth policy, was sworn in as president of the Korea Development Institute (KDI) earlier this week, according to the institute, Thursday. He succeeds Choi Jeong-pyo for a three-year term. Hong emphasized the distribution of wealth during a ceremony for his appointment held at the state-run institute in S...

Yi Whan-woo | 2021-06-03 13:58

Korean economy back on track due to robust exports, consumption

The Korean economy is showing strong signs of getting back on track following robust growth in exports and consumption, in line with a rebound in global trade, amid massive vaccination rollouts abroad. Experts say that the much-awaited signs of recovery are a valid cause for optimism, yet they note celebrating seems premature given the varying impact across households and bus...

Lee Kyung-min | 2021-06-02 16:38

Consumer price growth hits over 9-year high in May

South Korea's consumer prices grew at the fastest pace in more than nine years in May on higher prices of farm and oil products, data showed Wednesday, underscoring that inflationary pressure is building up amid an economic recovery from the pandemic-caused slump.

2021-06-02 09:18

Exports recovery extended to 7th month in May on rebounding global economy

South Korea's exports jumped 45.6 percent on-year in May to extend their gains to a seventh consecutive month due to strong demand for chips amid the global economic recovery, underscoring a rebound from the pandemic-caused slump, data showed Tuesday.

2021-06-01 10:36

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