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Mon, July 4, 2022 | 15:11
US inflation hit a new 40-year high last month of 8.6%
US inflation hit a new 40-year high last month of 8.6%
The costs of gas, food and other necessities jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs.
2022-06-10 21:53
Rhee stresses central banks' role as inflation fighters, hints at additional hikes
Rhee stresses central banks' role as inflation fighters, hints at additional hikes
Bank of Korea (BOK) Governor Rhee Chang-yong underscored the role of central banks as inflation fighters, Friday, warning that inflation could worsen if countermeasures are not taken in a timely manner. He implied that the BOK might raise the benchmark interest rate again in July and August, following five other pandemic-era rate hikes that have been carried out since August ...
Yi Whan-woo | 2022-06-10 16:21
ECB signals rates lift-off, eyes bigger move in September
ECB signals rates lift-off, eyes bigger move in September
The European Central Bank ended a long-running stimulus scheme Thursday and said it would deliver its first interest rate hike since 2011 next month, followed by a potentially larger move in September. With inflation at a record-high 8.1 percent and still rising, the ECB now fears that price growth is broadening out and could morph into a hard-to-break wage-price spiral, hera...
2022-06-10 14:53
Korea posts 1st current account deficit in 2 years in April
Korea posts 1st current account deficit in 2 years in April
Korea posted its first current account deficit in two years in April as soaring energy and commodity prices pushed up import bills, and overseas dividend payments expanded, central bank data showed Friday.
2022-06-10 09:10
Prices of gasoline, diesel hit over 2,040 won amid Russia-Ukraine war
Prices of gasoline, diesel hit over 2,040 won amid Russia-Ukraine war
The average prices of gasoline and diesel in Korea have hit over 2,040 won ($1.62), data showed Thursday, as tight global supplies continue to drive up fuel costs amid Russia's war with Ukraine.
2022-06-09 17:56
Gov't to launch deregulation task force
Gov't to launch deregulation task force
Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho underscored the need for a “drastic paradigm shift in economic policy,” Thursday, as the government is buckling down to stimulate a market-driven economy, with the aim of overcoming the structural crisis of low growth and polarization, as promised by President Yoon Suk-yeol. Choo said he will launch a spe...
Yi Whan-woo | 2022-06-09 16:55
BOK voices concerns over growing inflation expectations, weak currency amid rising prices
BOK voices concerns over growing inflation expectations, weak currency amid rising prices
Expectations of rising inflation have been adding upward pressure on prices, and their impact on the trajectory of overall inflation will likely intensify going forward, the central bank said Thursday.
2022-06-09 14:01
  • Economic recovery momentum weakens: KDI
Economic recovery momentum weakens: KDI
Economic recovery momentum weakens: KDI
Korea's economic recovery momentum has weakened as the manufacturing industry is losing steam due to prolonged supply chain disruptions and soaring raw material prices, a state-run think tank said Thursday.
2022-06-09 14:01
  • BOK voices concerns over growing inflation expectations, weak currency amid rising prices
OECD cuts Korea's 2022 growth outlook to 2.7%, hikes inflation forecast to 4.8%
OECD cuts Korea's 2022 growth outlook to 2.7%, hikes inflation forecast to 4.8%
The Organization for Economic Cooperation and Development (OECD) lowered its 2022 growth forecast for Korea from 3 percent to 2.7 percent, Wednesday, in the latest bleak economic outlook for the world's 10th-largest economy. The OECD's forecast comes as a protracted war between Russia and Ukraine, China's COVID-19 lockdown and other global economic uncertainties impact the wo...
Yi Whan-woo | 2022-06-08 20:00
What changes will prosecutor-turned-FSS chief bring?
What changes will prosecutor-turned-FSS chief bring?
Former chief prosecutor Lee Bok-hyun's appointment as the head of the Financial Supervisory Service (FSS) is an unprecedented case in many regards. First, he is the first-ever FSS governor to have been a prosecutor before assuming the chief role at the financial authority. Born in 1972, he is also the youngest-ever FSS governor ― he's even younger than most of the directors a...
Anna J. Park | 2022-06-08 16:58
  • Yoon under fire for too many ex-prosecutors taking key posts
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Top 10 Stories
  • Declining approval rating feared to dampen Yoon's political drive
  • Korea's bio industry at turning point after pandemic
  • Can Chinese demand cushion blow of US recession on Asian economies?
  • Concerns grow over COVID-19 resurgence
  • More than six out of 10 South Koreans willing to fight for country
  • Umbrella union stages massive rallies in Seoul amid scorching heat
  • Not just another crypto-bubble
  • Inflation expected to accelerate further in 2nd half
  • Japanese media focuses on Yoon's 'sales diplomacy'
  • Korea loses money in trade with China
DARKROOM
  • Afghanistan earthquake killed more than 1,000

    Afghanistan earthquake killed more than 1,000

  • Divided America reacts to overturn of Roe vs. Wade

    Divided America reacts to overturn of Roe vs. Wade

  • Namaste: Yogis to celebrate International Yoga Day

    Namaste: Yogis to celebrate International Yoga Day

  • Poor hit harder by economic crisis

    Poor hit harder by economic crisis

  • Roland Garros 2022

    Roland Garros 2022

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