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Economy

Sat, June 3, 2023 | 07:40

3rd straight rate freeze likely this week amid sluggish economy

3rd straight rate freeze likely this week amid sluggish economy

The Bank of Korea (BOK) is expected to keep its key interest rate intact for the third consecutive time in its rate-setting meeting this week, as an economic slowdown has become a bigger concern than inflation, according to analysts, Sunday.

Yi Whan-woo | 2023-05-21 16:14

Moody's keeps 'Aa2' rating on S. Korea with stable outlook

Moody's keeps 'Aa2' rating on S. Korea with stable outlook

Global credit appraiser Moody's Investors Service said Friday it has affirmed its credit rating on South Korea "Aa2," with a stable outlook.

2023-05-19 19:52

Aging population poses grave risks to Korea's economic growth

Aging population poses grave risks to Korea's economic growth

Korea's demographic crisis, fueled by a plunging birthrate and rapidly-aging population, will wreak havoc on its economy in the coming years, according to global credit ratings agencies. They warn that Asia's fourth-largest economy will face rating downgrades by 2050 unless it averts the ongoing population decline.

Lee Yeon-woo | 2023-05-19 16:19

Gen Z, Millennials choose cost of living, unemployment, climate change as top concerns: report

Gen Z, Millennials choose cost of living, unemployment, climate change as top concerns: report

Cost of living turns out to be the issue of the highest concern for those of Gen Z and Millennials across the world, followed by unemployment and then climate change.

Anna J. Park | 2023-05-18 17:01

Korea trails behind Japan in post-pandemic economic recovery

Korea trails behind Japan in post-pandemic economic recovery

The Japanese economy, which has long suffered from decades of stagnation, is showing signs of recovery. Its gross domestic product (GDP) growth rate has turned positive for the first time in three quarters, surpassing that of Korea. If this trend continues, Japan will surpass Korea in terms of real economic growth rate this year, for the first time in 25 years since 1998 duri...

Lee Yeon-woo | 2023-05-18 16:41

[CONTRIBUTION] Firms urged to increase investment in third-party risk management

CONTRIBUTIONFirms urged to increase investment in third-party risk management

In an increasingly volatile economic and political environment, it's important for firms to manage risks across their supply chains. Firms worldwide are thus upping investment in this area, according to new research.

2023-05-18 08:45

FSS lists Eland, Kakao in debt monitoring group

FSS lists Eland, Kakao in debt monitoring group

Retail tycoon Eland and Kakao, Korea's Big Tech conglomerate, have recently been included in the Financial Supervisory Service's (FSS's) debt list due to their respective high levels of indebtedness.

Anna J. Park | 2023-05-17 16:53

Korea's tourism industry deficit widens after pandemic ends

Korea's tourism industry deficit widens after pandemic ends

Recent data reveals a significant surge in the number of Korean travelers heading overseas this year, while the number of foreign visitors to Korea has remained stagnant. This disparity could worsen the country's tourism earnings deficit and further burden the already struggling industry, market watchers said.

Lee Yeon-woo | 2023-05-17 16:32

[INTERVIEW] Korea to showcase economics prowess at World Congress in 2025

INTERVIEWKorea to showcase economics prowess at World Congress in 2025

The academic discipline of modern economics in Korea and the nation's economic flourishing following the 1950-53 Korean War share strong parallels. This makes Korea a distinct and fitting case study as it prepares to be the next host of the Econometric Society World Congress (ESWC). The country is looking forward to sharing its remarkable economic success on one hand and its ...

Yi Whan-woo | 2023-05-17 08:35

Default looms large for self-employed as COVID-19 emergency ends

Default looms large for self-employed as COVID-19 emergency ends

The risk of default faced by small businesses and the self-employed throughout the COVID-19 pandemic is looming large again, after the government declared an end to classifying COVID-19 as a health crisis last week.

Yi Whan-woo | 2023-05-16 16:22

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