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Finance

Economy

Wed, October 27, 2021 | 18:08

OECD ups 2021 growth outlook for Korean economy to 3.8%

The Organization for Economic Cooperation and Development (OECD) on Monday raised its 2021 growth outlook for the South Korean economy, citing the country's strong exports and fiscal support.

2021-05-31 19:24

Industrial output falls by most in 11 months in April

South Korea's industrial output declined the most in 11 months in April as production in the chipmaking industry slumped due largely to a higher base effect, data showed Monday.

2021-05-31 09:59

Virus hits manufacturing, service industries

More than 91,000 people under 40 lost jobs in the October-December period last year, whereas people in their 50s and older added nearly 550,000 jobs, mostly through the government's job creation initiative put in place to weather the COVID-19 pandemic, data showed Thursday. The added jobs are short-term and low-quality, not too different from ones created long before the pand...

Lee Kyung-min | 2021-05-27 15:10

Older people more likely to have lost income due to COVID-19: survey

Older people were more likely to have suffered a decrease in income due to the coronavirus pandemic, a survey showed Thursday. In the survey conducted on 16,244 workers in 537 professions from August to November, 35.8 percent said they earned less in 2020 due to the economic fallout from the pandemic, according to the Korea Employment Information Service (KEIS).

2021-05-20 14:20

Rising oil, raw material prices fan inflation concerns

Concerns over inflation are mounting triggered by a steep rise in oil and raw material prices amid growing expectations for an economic recovery, setting the stage for discussions on whether pandemic-induced expansionary policies need to be drawn down.

Lee Kyung-min | 2021-05-18 15:26

Korea to focus on curbing high prices of farm products: senior official

South Korea will step up efforts to swiftly stabilize high prices of agricultural and livestock products as those prices have pushed up the country's consumer inflation, a senior government official said Friday.First Vice Finance Minister Lee Eog-weon said prices of farm products stayed higher than those of an average year, but they have been gradually stabilizing."Prices of ...

2021-05-14 10:13

US investors looking for protection as inflation pressures bubble

KDI sharply ups 2021 growth outlook for Korean economy to 3.8%

The Korea Development Institute (KDI) on Thursday sharply revised up its growth outlook for the South Korean economy this year, citing robust exports amid a global economic recovery.

2021-05-13 13:59

Moody's warns Korea about rising debt, stalled peace talks

Moody's Investors Service mentioned a “historically” high government debt burden and derailed progress toward peace on the Korean Peninsula as the major risks to Korea's sovereign credit rating, which has stayed at “Aa2” with a stable outlook.

Park Jae-hyuk | 2021-05-12 15:00

Korea reports largest job growth in almost 7 years in April

South Korea reported the largest job growth in almost seven years in April in the latest sign that the job market is recovering from a yearlong slump caused by the pandemic, data showed Wednesday.

2021-05-12 09:44

67% of Koreans say vaccination passports will help economy: poll

Nearly 70 percent of South Koreans believe that the use of a vaccination passport, which proves that a person has been fully vaccinated against the virus, will help the economy, a poll showed Sunday.

2021-05-09 11:28

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