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Finance

Economy

Sat, July 2, 2022 | 07:53

Korea's overseas financial assets hit new high in 2021

Korea's overseas financial assets hit a new high in 2021 thanks largely to a jump in investment in U.S. stocks, central bank data showed Tuesday.

2022-06-28 14:05

PM calls for measures to stabilize inflation

Prime Minister Han Duck-soo called for ministers to come up with measures to help stabilize inflation Tuesday, noting that soaring prices are hurting consumers' pocketbooks.

2022-06-28 11:25

Finance chief calls for corporate restraint on 'excessive' wage increases amid inflation woes

Finance Minister Choo Kyung-ho asked companies Tuesday to refrain from excessively raising wages for employees as the move could further accelerate inflation.

2022-06-28 10:47

Korean currency rises by most in 1 month amid eased recession fears

The Korean currency rose by the most against the U.S. dollar in about a month Monday as expectations that the Federal Reserve may slow its aggressive monetary tightening eased concerns about a global economic recession.

2022-06-27 17:10

Gov't pressure on banks contrasts with Yoon's pledge to limit market intervention

The recent calls from President Yoon Suk-yeol and Financial Supervisory Service (FSS) Governor Lee Bok-hyun for commercial banks to ease the burden on borrowers over fast-growing interest rates is raising questions over whether the Yoon administration is contradicting one of its objectives of facilitating a market-driven economy. The calls are being perceived by lenders as pr...

Yi Whan-woo | 2022-06-27 16:40

Korea's inflation may rise 6% in June-August period: finance chief

Korea's consumer inflation will likely rise by 6 percent during the June to August period on a global surge in oil, food and material costs, the country's finance minister said Sunday.

2022-06-26 17:37

Korean economy pushed closer toward 'perfect storm'

Korea is feared to be on the brink of a “perfect economic storm” that financial authorities have been warning about repeatedly for months, with the economy becoming more vulnerable amid the depreciation of the Korean won, plummeting stocks and soaring inflation. Authorities and economists warn the serious nature of the Korean economy in 2022 is conjuring up deja vu of the wor...

Yi Whan-woo | 2022-06-24 16:36

S. Korea logs record current account surplus with US in 2021

South Korea posted a record current account surplus with the United States and Southeast Asia in 2021 on brisk demand for semiconductors and other key products, but its shortfall with the Middle East widened sharply on soaring oil prices, the central bank said Friday. The current account surplus with the U.S. totaled $44.96 billion last year, compared with a $32.8 billion sur...

2022-06-24 15:45

Powell: Fed must convince public it can tame inflation

As if their job weren't hard enough at a time of raging inflation, Chair Jerome Powell and his Federal Reserve colleagues have to do more these days than decide just how much to raise interest rates without triggering a recession. They also have a sales job on their hands: Convincing the public that they will succeed in reducing inflation ― now at 8.6 percent, a four decade h...

2022-06-24 11:26

US Treasury's Yellen expected to visit S. Korea next month

U.S. Treasury Secretary Janet Yellen plans to visit South Korea next month for meetings with her counterpart, Choo Kyung-ho, and other officials, a government source said Friday. During what will be her first trip here since assuming the post in January last year, the secretary is expected to focus consultations on economic policy coordination under South Korea's new Yoon Suk...

2022-06-24 11:01

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