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Economy

Tue, November 29, 2022 | 16:37

[CONTRIBUTION] Lessons learned from the UK gilt tantrum

CONTRIBUTIONLessons learned from the UK gilt tantrum

Financial market participants, including myself are witnessing episodes that we haven't seen for decades. DXY - an index of the dollar value vis-a-vis six major currencies - is at a 20-year high, with the weakest euro in 20 years. The Japanese yen has once breached 150 versus the U.S. dollar for the first time since 1990. Inflation is running at the highest level since the 19...

Anna J. Park | 2022-11-02 09:00

Korea eyes to foster new growth engines amid exports slump

Korea eyes to foster new growth engines amid exports slump

Korea's finance minister said Tuesday the country needs to foster new growth engines to seek a turnaround in monthly exports, although a rebound may take some time amid global economic jitters.

2022-11-01 16:49

Korea suffers trade deficit for 7th straight month

Korea suffers trade deficit for 7th straight month

Korea's exports logged an on-year decline in October for the first time in two years on sluggish global demand amid high inflation and an economic slowdown, the trade ministry said Tuesday.

2022-11-01 10:51

Korea's real economy faces triple whammy amid recession fears

Korea's real economy faces triple whammy amid recession fears

The real economy is feared to suffer a prolonged triple whammy of declining industrial output, retail sales and facility investments, as global monetary tightening jeopardizes the nation's economic recovery, Statistics Korea said Monday. This is the first time in two months since July that the economy faced the triple declines. The authority raised an alarm about heightened e...

Lee Min-hyung | 2022-10-31 16:43

Retail sales up 7.5% in September amid growing outdoor activities

Retail sales up 7.5% in September amid growing outdoor activities

Retail sales in Korea grew 7.5 percent on-year in September on an increase in people's outdoor activities amid eased antivirus curbs, data showed Monday.

2022-10-31 11:32

Korea's trade in pet care items reaches all-time high

Korea's trade in pet care items reaches all-time high

Korea's trade in pet care items has reached an all-time high this year - through September - according to the Korea Customs Service (KCS), Friday, amid a booming pet industry here backed by a growing number of pet-owning households. The KCS said the nation's exports of pet care-related items from January to September amounted to $116 million, up 56.1 percent from the same per...

Yi Whan-woo | 2022-10-28 17:24

FSC chief to meet financial group leaders Tuesday to discuss market stabilization

FSC chief to meet financial group leaders Tuesday to discuss market stabilization

Financial Services Commission (FSC) Chairman Kim Joo-hyun is scheduled to meet the leaders of the country's five major financial groups next week, aiming to discuss effective stabilization measures amidst increased uncertainties surrounding the local corporate and commercial paper markets.

Anna J. Park | 2022-10-28 16:15

Banks' household lending rates hit 10-year high in September

Banks' household lending rates hit 10-year high in September

Banks' rates charged on household loans hit a 10-year high in September, raising worries that the central bank's aggressive monetary tightening leads to worsening strains on many indebted people, data showed Friday.

2022-10-28 13:37

Korea to expand tariff-rate quota on energy, food imports

Korea to expand tariff-rate quota on energy, food imports

Korea plans to expand its tariff-rate quota on energy and food imports as the country struggles to cope with inflation and the strong U.S. dollar, the finance ministry said Friday.

2022-10-28 11:15

BOK announces rate-setting meeting schedule for next year

BOK announces rate-setting meeting schedule for next year

The Bank of Korea (BOK) will hold its rate-setting meeting a total of eight times in 2023, with the year's first gathering of monetary policymakers set for Jan. 13, the central bank said Friday

2022-10-28 10:13

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