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The Korea Times

The Korea Times

The Korea Times

Finance

Economy

Sun, October 1, 2023 | 22:15

Drops in production, investments, spending cast shadow over Korean economy

Drops in production, investments, spending cast shadow over Korean economy

Three key indicators of industrial productivity - factory output, retail sales and facility investments - all retreated last month, data showed on Thursday, casting a dark cloud over an economic recovery in the second half of this year.

Yi Whan-woo | 2023-08-31 17:06

Tax revenue down $32.7 bil. through July amid lower corporate earnings

Tax revenue down $32.7 bil. through July amid lower corporate earnings

Korea's tax revenue decreased 43.3 trillion won ($32.7 billion) on-year through July this year, data showed Thursday, due to sluggish corporate earnings and a property market slump.

2023-08-31 11:56

Korea designates Oct. 2 as temporary holiday to boost consumption

Korea designates Oct. 2 as temporary holiday to boost consumption

Korea's finance ministry said Thursday the country has decided to designate Oct. 2 as a temporary holiday in the latest move to boost domestic consumption.

2023-08-31 10:44

Korean women enter motherhood at more advanced age

Korean women enter motherhood at more advanced age

Korean women are becoming mothers later in life as the country struggles with a shrinking population and a record-low fertility rate of 0.78, according to data, Wednesday.

Yi Whan-woo | 2023-08-30 16:20

Korea's total births, fertility rate fall to record lows in 2022

Gov't to tighten belt further to improve fiscal health

Gov't to tighten belt further to improve fiscal health

The government plans to increase the national budget by 2.8 percent in 2024 compared to this year _ the smallest rate of growth in nearly two decades _ as it pursues belt-tightening measures to improve fiscal health amid an economic slowdown.

Yi Whan-woo | 2023-08-29 17:10

Korea to allocate W200 bil. to encourage foreign direct investment in 2024

Korea's trade terms improve for 2nd month in July

Korea's trade terms improve for 2nd month in July

Korea's terms of trade rose for the second month in a row in July as import costs fell at a faster pace than export prices, central bank data showed Tuesday.

2023-08-29 17:00

Korea to allocate W200 bil. to encourage foreign direct investment in 2024

Korea to allocate W200 bil. to encourage foreign direct investment in 2024

The government will allocate a budget of 200 billion won as a subsidy for foreign direct investment here in 2024, a move to help facilitate more capital inflow, particularly in the nationally strategic tech sectors.

Lee Min-hyung | 2023-08-29 16:51

Gov't to tighten belt further to improve fiscal health

Unification ministry seeks 28% cut in 2024 budget for inter-Korean cooperation fund

COVID-19 special loan repayments on track for 'soft landing'

COVID-19 special loan repayments on track for 'soft landing'

Massive amounts of special loans and benefits granted to small and medium-sized enterprises (SMEs) and mom-and-pop businesses during the COVID-19 crisis are on a stable path to repayment, according to the top financial regulator.

Anna J. Park | 2023-08-29 16:36

Retail sales up 5.9% in July on growing outdoor vacation activities

Retail sales up 5.9% in July on growing outdoor vacation activities

Retail sales in Korea rose 5.9 percent on-year in July as more people enjoyed outdoor activities for summer vacation amid eased antivirus curbs, the industry ministry said Tuesday.

2023-08-29 14:34

Gov't to seek tighter budget, prioritize fiscal soundness

Gov't to seek tighter budget, prioritize fiscal soundness

Korea's smallest increase in its budget proposal in almost two decades illustrates the government's commitment to improving fiscal soundness amid declining tax revenue and economic uncertainties.

2023-08-29 11:36

S. Korea seeks slowest budget growth in nearly 20 years for 2024

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