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The Korea Times

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Economy

Tue, May 30, 2023 | 16:46

Gen MZ shifts to thrifty mindset amid high cost of living

Gen MZ shifts to thrifty mindset amid high cost of living

A KakaoTalk user in his 20s says he routinely asks for and shares advice on how to spend less and save more money in an open chat with more than a dozen users also looking to live more frugally.

Yi Whan-woo | 2023-05-26 16:16

Gov't dividends from state-run firms halve in 2023 amid lackluster earnings

Gov't dividends from state-run firms halve in 2023 amid lackluster earnings

The Korean government's dividend income from its stakes in public companies fell sharply in 2023 from a year earlier due to weaker performances amid economic uncertainties, data showed Friday.

2023-05-26 14:30

Korea to seek tariff-rate quota on pork, mackerel

Korea to seek tariff-rate quota on pork, mackerel

Korea plans to adopt tariff-rate quotas on imports of pork and mackerel in the near future in line with efforts to tame rising foodstuffs prices amid prolonged inflation, a senior official said Friday.

2023-05-26 10:27

Can Seoul succeed in transforming Yeouido into a global financial hub?

Can Seoul succeed in transforming Yeouido into a global financial hub?

Seoul revealed its blueprint to establish Yeouido as a global financial hub, but concerns are rising that the city still has a long way to go before it can emulate its models - London and Singapore. On Thursday, Seoul began soliciting public opinions on its plans to elevate the environment of the district to international standards, as part of its aim of transforming the city...

Lee Yeon-woo | 2023-05-26 08:25

Household loans up for 1st time in 8 months on increased policy financing

Household loans up for 1st time in 8 months on increased policy financing

Household loans increased for the first time in eight months in April due to an increase in home mortgage loans issued by policy financing, data showed Thursday.

2023-05-25 22:00

BOK cuts 2023 growth forecast to 1.4% amid economic woes

BOK cuts 2023 growth forecast to 1.4% amid economic woes

The Bank of Korea (BOK) lowered this year's growth forecast for the country to 1.4 percent from 1.6 percent, Thursday, as a prolonged slowdown in exports has increasingly weakened growth momentum. Amid growing economic woes, the central bank kept the key interest rate steady at 3.5 percent for the third consecutive time following February and April.

Yi Whan-woo | 2023-05-25 16:48

Korea's per capita income soared by 400 times during past 60 yrs: Finance Minister

Korea's per capita income soared by 400 times during past 60 yrs: Finance Minister

Korea's per capita income has grown over 400 times during the past 60 years, since the Korean government first launched its ambitious five-year development plan in 1962, Finance Minister Choo Kyung-ho said in a conference held to commemorate the country's economic development achievements.

Anna J. Park | 2023-05-25 16:19

Korea to maintain policy goal to tame inflation, diversify exports: Choo

Korea to maintain policy goal to tame inflation, diversify exports: Choo

Finance Minister Choo Kyung-ho said Thursday the government plans to maintain its policy goal to tame inflation while making efforts to address imminent challenges to maintain economic growth.

2023-05-25 11:08

BOK again stands pat on rates, trims growth estimate amid slowdown woes

BOK again stands pat on rates, trims growth estimate amid slowdown woes

BOK again stands pat on rates, trims growth estimate amid slowdown woes

Korea's central bank held its key interest rate steady for the third straight time Thursday as it trimmed this year's growth estimate in the face of an extended slowdown in exports amid moderating inflation.

2023-05-25 10:03

Producer prices snap 3-month rise in April

Producer prices snap 3-month rise in April

Korea's producer prices ended three consecutive months of growth in April, as prices of agricultural products and utilities decreased, central bank data showed Thursday.

2023-05-25 09:56

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