News
IMF further cuts global economic growth forecast to minus 4.9%
The International Monetary Fund has forecast a contraction of 4.9 percent for the global economy in 2020, citing worse-than-expected economic outputs in the first quarter and a more pessimistic forecast for the second quarter, the Seoul government said Wednesday evening. ... Read More
Korea’s exports dip 7.5% in first 20 days of June
SEJONG -- South Korea's exports fell 7.5 percent on year in the first 20 days of June amid the fallout from the coronavirus pandemic, customs data showed Monday. The nation's outbound shipments stood at $25 billion in the June 1-20 ... Read More
S. Korea’s current account surplus with US, China narrows in 2019
South Korea's current account surplus with the United States and China sharply narrowed in 2019 from a year earlier amid a prolonged trade dispute between the world's largest economies that undermined its exports, as well as its current account balance, ... Read More
ADB expects S. Koran economy to contract 1% this year amid pandemic
The Asian Development Bank (ADB) on Thursday sharply revised down its 2020 growth estimate for South Korea, along with that for the entire Asian region, expecting Asia's fourth-largest economy to shrink 1 percent from a year earlier. The revision marks ... Read MoreS. Korean companies’ sales, profitability narrow in Q1 amid pandemic
South Korean businesses' sales and profitability worsened in the first quarter from three months earlier, central bank data showed Tuesday, amid slowing demand at home and abroad caused by the spread of the new coronavirus. In the January-March period, sales ... Read More