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OECD warns Korea is facing some stiff challenges

The Organization for Economic Cooperation and Development raised warnings that Korea's economy is facing some serious challenges going forward, an analysis of data showed Sunday. The alarm comes as the organization representing developed market economies with high income adjusted down ... Read More

Oil price, minimum wage, heat wave expected to fuel inflation

The latest increase in the global oil price and the country's minimum wage, along with the heat wave are anticipated to push up the cost of living in South Korea, a report showed Sunday. According to the report released by ... Read More

Korean economy decoupled from robust global growth

The Korean economy is being decoupled from a robust recovery of the global economy this year, held back by sluggish domestic demand and deteriorating external conditions. Last month, the Ministry of Economy and Finance and the Bank of Korea revised ... Read More

Vegetable prices jump 5.4% in single week from heat wave

Prices of vegetables jumped more than 5 percent last week from the week before as the heat wave continued, while the price of ice cream fell by over 40 percent, data showed Wednesday. According to a portal operated by the ... Read More

South Korean Restaurant & bar business revenue sees record decline in H1

Revenue generated by South Korea’s restaurants and bars in the first half of this year dropped 2.6 percent on-year, marking the biggest decline in six years, according to recent data from Statistics Korea. Korea’s retail sales index for the service ... Read More

S. Korea’s tax burden to exceed 20% in 2018

South Korea’s tax burden this year is likely to surpass 20 percent of gross domestic product for the first time, on the back of the government’s expansionist fiscal operations, officials said Sunday. The nation’s tax income this year is estimated ... Read More

Online shopping purchases continue to increase in June

Purchases made using the Internet and mobile devices in South Korea continued to show solid growth in June, government data showed Thursday, demonstrating the popularity of smartphones, fast delivery and convenient payment options offered to local shoppers. The total value ... Read More

S. Korean exports little affected by demand from advanced nations: report

South Korean triathletes said Thursday they'll try to bring home the first Asian Games gold medal from Indonesia this year. The triathlon team to compete at the Aug. 18-Sept. 2 Asian Games in Jakarta and Palembang, Indonesia, hosted a launching ... Read More



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