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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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1More banks offer daily interest payments on deposits More banks offer daily interest payments on deposits
2Hyundai Elevator launches AI, IoT-powered maintenance service Hyundai Elevator launches AI, IoT-powered maintenance service
3Roland Garros 2023 Roland Garros 2023
4Airlines fiercely compete to acquire additional aircraft Airlines fiercely compete to acquire additional aircraft
5Seoul imposes sanctions on North Korean hacking group for role in space launch Seoul imposes sanctions on North Korean hacking group for role in space launch
6LG Chem joins Korean firms strengthening ties with Japan LG Chem joins Korean firms strengthening ties with Japan
7HMM tasked with preventing sale of Hyundai LNG to foreign firm HMM tasked with preventing sale of Hyundai LNG to foreign firm
8Korean stocks feared to lose steam on prolonged trade deficit, real estate doldrums Korean stocks feared to lose steam on prolonged trade deficit, real estate doldrums
9POSCO, GM expand joint EV battery materials investment in North America POSCO, GM expand joint EV battery materials investment in North America
10Indo-Pacific region highlighted as important for Korean economy's futureIndo-Pacific region highlighted as important for Korean economy's future
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