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Tue, November 29, 2022 | 17:31

FSS chief downplays concerns over liquidity crisis

FSS chief downplays concerns over liquidity crisis

Financial Supervisory Service (FSS) Governor Lee Bok-hyun assuaged market anxieties and concerns over an increased possibility of Korea's corporate credit crunch, stressing that the temporary shortage of liquidity experienced in some sectors of the economy is not threatening the entire financial system's liquidity.

Anna J. Park | 2022-11-07 16:42

Korea sees growing signs of economic slowdown amid external risks: KDI

Korea sees growing signs of economic slowdown amid external risks: KDI

Korea has seen increasing signs of an economic slowdown over weakening exports and the sluggish manufacturing sector amid worsening external conditions, a state-run think tank said Monday.

2022-11-07 14:45

NTS holds digital tax forum with Latin American countries

NTS holds digital tax forum with Latin American countries

The National Tax Service (NTS) is holding the 2nd Korea-Latin America Digital Tax Administration Forum jointly with the Inter-American Development Bank (IDB) from Nov. 7 to 10, joined by some 50 participants including five commissioners and high-level tax officials from 15 Latin American countries.

Yoon Ja-young | 2022-11-07 14:33

Falling exports further darken Korea's economic outlook

Falling exports further darken Korea's economic outlook

With a seven-month consecutive trade deficit logged this year, Korea's exports fell in October for the first time in two years, sending more warning signs to the Korean economy. The decline in the monthly export volume is attributed to various factors, ranging from the global economic slowdown, China's COVID-19 lockdowns, the decrease in the price of memory chips and supply c...

Anna J. Park | 2022-11-06 16:59

Fears grow over liquidity crisis at brokerages, insurers

Fears grow over liquidity crisis at brokerages, insurers

Concerns of a possible crisis at non-bank financial firms are growing as local insurers and brokerage houses are suffering from a liquidity shortage that is feared to send shock waves through the entire financial market here. Korean securities firms and insurers are coping with a mounting refinancing burden in the wake of lost confidence in the debt and short-term money marke...

Yi Whan-woo | 2022-11-06 16:49

Korea's GDP growth may fall below 2% in 2023: experts

Korea's GDP growth may fall below 2% in 2023: experts

Korea's gross domestic product (GDP) growth may fall below 2 percent next year due to the impact of high interest rates, high inflation and a weak won on its economy, experts said Sunday.

2022-11-06 14:20

COVID-19 exacerbates social, economic polarization in Korea

COVID-19 exacerbates social, economic polarization in Korea

Kim Eun-ah (pseudonym), a 37-year-old executive director at one of the most successful startup companies in Korea, stays in Gangneung, Gangwon Province, on weekdays. Her company allowed her to work online, and she enjoys living in the city located right next to the East Sea. The so-called “workation,” a portmanteau of work and vacation, is becoming a more frequent trend in Ko...

Anna J. Park | 2022-11-06 09:19

Concern grows over dwindling foreign reserves

Concern grows over dwindling foreign reserves

The nation's foreign exchange reserves extended losses in October again after the Bank of Korea (BOK) sold dollar reserves as part of efforts to defend the sharp depreciation of the local currency against the greenback. While the government says the country still has abundant foreign exchange reserves, experts are urging it to take preemptive measures, as fear can trigger a c...

Lee Min-hyung | 2022-11-04 16:40

BOK in dilemma over another big rate hike

BOK in dilemma over another big rate hike

The Bank of Korea (BOK) faces a growing dilemma over whether to take another big step of increasing the key interest rate by 50 basis points at its upcoming rate-setting meeting, as heightened recession fears and a credit crunch in the local bond market still come as a serious burden for the central bank's aggressive tightening despite the U.S. Federal Reserve's latest giant ...

Lee Min-hyung | 2022-11-03 16:21

Foreign reserves continue to shrink in October

Foreign reserves continue to shrink in October

Korea's foreign reserves continued to shrink in October as authorities unloaded dollars to support the weakening local currency, central bank data showed Thursday.

2022-11-03 07:39

Fed unleashes another big rate hike but hints at a pullback

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