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Economy

Tue, November 29, 2022 | 17:04

PM calls for preemptive responses to economic risks

PM calls for preemptive responses to economic risks

Prime Minister Han Duck-soo on Tuesday called for preemptive responses to downside economic risks to cope with rising volatility in financial markets.

2022-10-25 10:10

Legoland crisis pushes BOK into dilemma

Legoland crisis pushes BOK into dilemma

The default on debt payments surrounding Asia's largest Legoland theme park, which opened in Korea recently, is posing a dilemma for the Bank of Korea (BOK), which needs to tighten its monetary policy and, at the same time, supply liquidity to bond and short-term money markets. Companies' borrowing capacities have been drying up, as the BOK has been delivering rate hikes at a...

Yi Whan-woo | 2022-10-24 16:37

Financial authorities attend int'l anti-money laundering meeting

Financial authorities attend int'l anti-money laundering meeting

The Financial Services Commission (FSC), along with the Financial Supervisory Service (FSS) and other government agencies, attended the fifth Plenary of the Financial Action Task Force (FATF) held in Paris, France, from last Thursday to Friday, joining the international anti-money laundering organization's efforts to fight cross-border crime and terrorism. According to the FS...

Anna J. Park | 2022-10-23 16:54

Gov't to inject over $35 bil. into markets to avert liquidity crisis

Gov't to inject over $35 bil. into markets to avert liquidity crisis

The government said Sunday that it will expand the provision of liquidity to over 50 trillion won ($34.7 billion) hoping to ease jitters in the country's corporate bond and commercial paper (CP) markets and prevent a possible liquidity crisis. It also said that every local government in Korea will fulfill payment guarantee obligations linked to issuances of any asset-backed c...

Anna J. Park | 2022-10-23 16:48

Sliding Japanese yen feared to jolt Asia's financial markets

Sliding Japanese yen feared to jolt Asia's financial markets

The Japanese yen has weakened to the lowest level against the U.S. dollar in more than 32 years, raising the question of whether its descent will strike Asia's second-largest economy and subsequently other regional neighbors, including Korea. Concerns over the plunging yen have been mounting as it slipped to the major psychological barrier of 150 yen to $1 at one point on Thu...

Yi Whan-woo | 2022-10-23 16:23

Korea's debt-to-GDP ratio grows 2.5 times faster than advanced economies'

Korea's debt-to-GDP ratio grows 2.5 times faster than advanced economies'

The ratio of national debt to gross domestic product (GDP) in Korea is rising fast, and it will grow more than 2.5 times as much as the combined average of the ratios of the world's 35 advanced economies between 2017 and 2022, a government source said Sunday on condition of anonymity. Citing data from the International Monetary Fund (IMF), the source said that the national de...

Yi Whan-woo | 2022-10-23 16:23

Manufacturing sentiment dips to 30-month low in Nov.: poll

Manufacturing sentiment dips to 30-month low in Nov.: poll

Korea's manufacturing confidence dropped to a 2 1/2-year low in November amid deepening concerns over a global economic downturn, a poll showed Sunday.

2022-10-23 14:16

Policymakers to hold emergency meeting on money market jitters

Policymakers to hold emergency meeting on money market jitters

Korean Finance Minister Choo Kyung-ho plans to hold an emergency meeting with the country's central bank chief and top financial regulators on Sunday to discuss ways to rein in market jitters stemming from a default on debt linked to the construction of the Legoland theme park.

2022-10-23 10:54

Policymakers to meet to discuss jitters in money market

Policymakers to meet to discuss jitters in money market

Finance Minister Choo Kyung-ho plans to meet with the central bank chief and top financial regulators Sunday to discuss ways to stabilize jitters in the money market caused by a default on debt linked to the construction of an amusement park.

2022-10-22 22:53

Producer prices bounce higher in Sept. amid inflation woes

Producer prices bounce higher in Sept. amid inflation woes

Korea's producer prices bounced back in September following the first downturn in about two years a month earlier, as high energy and farming bills drove up costs, central bank data showed Friday.

2022-10-21 09:18

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