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S. Korea’s GDP forecast to edge down due to US-China trade row: report

South Korea is expected to be one of the countries most affected by the protracted trade war between the United States and China, though the impact is forecast to remain limited, a report said Sunday. According to the report from ... Read More

Korean premier calls for increased cooperation with Qatar

Korean Prime Minister Lee Nak-yon on Thursday expressed hope for increased business and economic cooperation with Qatar, asking the visiting deputy prime minister of the Middle Eastern country to help expand business opportunities for Korean firms. Lee's request came in ... Read More

Deregulation needed to spur corporate investments

Regulatory reforms need to be accelerated to ensure that massive investment plans unveiled or drawn up by the country’s major conglomerates will be implemented smoothly in the coming years, economists say. In the past months, six local business groups have ... Read More

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

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