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IBs maintain steady growth outlook for S. Korea

Major global investment banks (IBs) maintained their revised-up growth outlook for South Korea's economy, a report showed Sunday, despite a gloomier outlook recently portrayed by the country's central bank. In June, nine global investment banks forecast the South Korean economy ... Read More

Consumption shows signs of rebound, but export slump continues: finance ministry

South Korea's finance ministry said Friday that local consumption showed signs of a rebound, but the coronavirus pandemic continued to stagnate exports. In a monthly report, called the Green Book, the Ministry of Economy and Finance painted a somewhat positive ... Read More

S. Korea to invest W73.4tr in green projects as part of ‘New Deal’ scheme

South Korea said Thursday it will spend 73.4 trillion won ($60 billion) in the energy segment in line with its ambitious "New Deal" plan meant to transform the nation's fossil fuel-reliant economy into an eco-friendly one. The projects could create ... Read More

6 months after virus outbreak, S. Korean economy gears up for big jump

SEJONG -- In the six months after the new coronavirus was first reported in South Korea, the virus outbreak has battered the nation's exports and depressed local consumption, with health experts warning that the highly contagious disease may not disappear ... Read More

S. Korea’s energy imports sharply down in April amid pandemic

South Korea's imports of energy products nearly halved in April due mainly to the falling global price of crude oil amid the new coronavirus pandemic, which has suspended business activities around the globe, data showed Thursday. The country's imports of ... Read More

S. Korea’s exports fall 1.7% in first 10 days of July

SEJONG -- South Korea's exports fell 1.7 percent on-year in the first 10 days of July, but a slower pace of contraction signaled a recovery in shipments as more nations lifted coronavirus lockdown measures, customs data showed Monday. The nation's ... Read More

S. Korea to impose heavier taxes on multiple home owners

The government on Friday unveiled a set of new real estate regulations centered on raising taxes on owners of multiple homes, as part of a move to rein in soaring housing prices. According to the latest version, marking the 22nd ... Read More

Korea’s consumption slowdown decelerates, but exports keep sliding: KDI

South Korea’s consumption has recovered slightly on the back of the government’s emergency cash handout, but its economic activity and exports remain sluggish, still weighed down by risks stemming from the coronavirus pandemic, a state-run think tank said Wednesday. “The ... Read More