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Sat, June 3, 2023 | 01:22

Korea's GDP forecast to grow 1.1 percent in 2023: S&P

Korea's GDP forecast to grow 1.1 percent in 2023: S&P

Korea's GDP is expected to grow by 1.1 percent this year amid weaker demand and fading re-opening benefits, according to forecasts by S&P Global Ratings. However, longer term, the growth trend will ease to around 2 percent for the period from 2026 to 2030.

Anna J. Park | 2023-05-03 16:34

Korea, ADB to establish climate tech hub in Seoul

Korea, ADB to establish climate tech hub in Seoul

The Korean government and the Asian Development Bank (ADB) have agreed to establish a climate technology hub in Seoul. The facility will serve as a climate think tank for both sides to drive major climate agenda items internationally.

Lee Min-hyung | 2023-05-03 16:23

Korea to join efforts to form cooperative supply chain in Asia: Yoon

Korean culture enthusiastically embraced at ADB's annual meeting

Korean culture enthusiastically embraced at ADB's annual meeting

INCHEON - It's not typical to see mature adults giggling while struggling to dress up in costumes at a formal event like the 56th annual meeting of the Asian Development Bank (ADB). At an exhibition booth at Songdo Convensia in Incheon ...

Lee Yeon-woo | 2023-05-02 16:50

ADB chief optimistic about Korea's future economic growth

Korea, China, Japan cooperation to serve as growth engine of global economy: Korean finance minister

Korea, China, Japan cooperation to serve as growth engine of global economy: Korean finance minister

Korea's Finance Minister Choo Kyung-ho emphasized that the cooperative ties between three Northeast Asian countries - Korea, China and Japan - will serve as a crucial engine for speedy and sustainable recovery as well as the further growth of the global economy. The finance minister also vowed that Korea will play an active role in cooperative economic relations among the thr...

Anna J. Park | 2023-05-02 16:39

Nobel Prize-winning economist urges policy flexibility for socio-economic challenges

Nobel Prize-winning economist urges policy flexibility for socio-economic challenges

INCHEON - Korea should be flexible with its public policy to better cope with low birthrates, gender disparity in the labor force and other social and economic problems that can work as “weak links” against the country's economy in the post-pandemic era, a Nobel Prize-winning economist said.

Yi Whan-woo | 2023-05-02 16:35

'Korea to expand aid to level of world's top 10 donors': finance minister

ADB chief optimistic about Korea's future economic growth

ADB chief optimistic about Korea's future economic growth

INCHEON - The president of the Asian Development Bank (ADB) expressed confidence in Korea's economy, stating that the country will maintain a strong growth trajectory for the next few years. ADB President Masatsugu Asakawa projected Korea's economy to grow 1.5 percent this year.

Lee Yeon-woo | 2023-05-02 16:16

Korean culture enthusiastically embraced at ADB's annual meeting

'Korea to expand aid to level of world's top 10 donors': finance minister

'Korea to expand aid to level of world's top 10 donors': finance minister

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho pledged to expand the Korean government's aid for developing countries to the level of the world's top 10 donor countries, during the 56th annual meeting of the Asian Development Bank (ADB) in Incheon's Songdo International Business District, Tuesday. In his opening speech for Korea Seminar Day, a one-day...

Yi Whan-woo | 2023-05-02 15:43

Nobel Prize-winning economist urges policy flexibility for socio-economic challenges

Daily FX turnover hits all-time quarterly high in Q1

Daily FX turnover hits all-time quarterly high in Q1

Daily foreign exchange (FX) trading by banks in Korea hit an all-time quarterly high in the first quarter of the year on increased demand from cross-border transactions of securities, central bank data showed Tuesday.

2023-05-02 15:19

Incheon: city of versatility, global connections

Incheon: city of versatility, global connections

Historically, new cultures have arrived via the oceans. Incheon, the closest port city to Korea's capital, Seoul, was no exception. It was one of the first places to experience the waves of modernity, serving as a window to foreign civilizations for the country.

Lee Yeon-woo | 2023-05-02 11:23

From recipient to donor country: evolving relationship between ADB and Korea

From recipient to donor country: evolving relationship between ADB and Korea

During the 1960s, when Korea was still recovering from the 1950-53 Korean War, developing infrastructure such as highways and ports seemed like an impossible dream. At that time, the country's gross domestic product (GDP) per capita was around $150, and there was barely enough money to support the population's basic needs, including food. Still, infrastructure development was...

Lee Yeon-woo | 2023-05-02 11:22

ADB chief optimistic about Korea's future economic growth

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