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Korea’s industrial output falls 0.7% in Nov

South Korea's industrial output fell 0.7 percent in November from a month earlier due to a decline in production in the mining and manufacturing, and service sectors, government data showed Friday. The data compiled by Statistics Korea showed production in ... Read More

Moon stresses need for industrial innovation

President Moon Jae-in again highlighted the importance of industrial innovation Wednesday, calling it the only way to ensure sustainable growth of the economy. "Industrial innovation of the Republic of Korea is today's topic," the president said while meeting with the ... Read More

Korea to raise monetary benefits for paid paternity leave

South Korea said Wednesday that it will raise the monthly benefits for paid parental leave from Jan. 1 onward as part of its efforts to boost the country's chronic low birthrate. The maximum amount of monthly payment for those who ... Read More

Korea’s producer prices drop at fastest pace in over 3 yrs in Nov.

South Korea's producer prices dropped at the fastest clip in more than three years in November on sagging crude oil prices, central bank data showed Friday. The producer price index, a barometer of future consumer inflation, reached 104.67 last month, ... Read More

Korea’s trade with Vietnam up 7% as of Nov.

South Korea's trade with Vietnam increased 7 percent in the first 11 months of this year compared with a year ago, Seoul's trade ministry said Wednesday. The bilateral trade volume reached $62.6 billion as of November, making Vietnam South Korea's ... Read More

S. Korea to slow down pace of wage hikes amid slow growth forecast

The South Korean government on Monday set the country’s growth rate for next year at 2.6-2.7 percent, lowering its earlier forecast amid a slowing global economy. It also indicated that it may slow down the pace of legal minimum wage ... Read More

Consumer prices on rise, weighing down consumption

South Korea's consumer prices have been on the rise in recent months, which has weighed down domestic consumption, government agencies said Monday. The development has been cited one of the causes holding back growth in Asia's fourth-largest economy. Among others, ... Read More

Korea to build 30,000 smart factories by 2022

The South Korean government said Thursday it will greatly expand the number of smart factories and industrial complexes that adopt advanced technologies by 2022 to upgrade the nation's manufacturing industry. The Ministry of Trade, Industry and Energy and the Ministry ... Read More

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