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Despite 6-year low growth, Korea’s GNI to surpass US$30,000

South Korea's per capita income is likely to surpass US$30,000 this year, though the economy is forecast to record its lowest growth rate in six years, observers said Sunday. Gross national income is expected to reach $31,243 in 2018, up ... Read More

Korea’s exports expected to surpass $600b this year

South Korea's exports are expected to exceed $600 billion for the first time this year on upbeat sales of memory chips, machinery and petrochemical products, the trade ministry said Friday. Outbound shipments were expected to reach the benchmark on Dec. ... Read More

Major foreign IBs cut S. Korea’s growth outlook

Major foreign investment banks revised down their forecasts for South Korea’s economic growth for this year and 2019, citing unfavorable conditions both at home and abroad, a report showed Thursday. According to the report by the Korea Center for International ... Read More

S. Korea logs current account surplus for 80th straight month

South Korea recorded a current account surplus in October for the 80th straight month on the back of solid goods exports, central bank data showed Thursday. The country’s current account surplus stood at $9.19 billion as of end-October, up sharply ... Read More

Korea’s economic growth forecast to slow to 2.6% in 2019

South Korea's economy is expected to lose steam slightly in 2019 from this year due to weakening exports and sluggish investment, a local think tank said Thursday. In its 2019 economic outlook, the Korea Capital Market Institute forecast South Korea's ... Read More

Korea needs to boost service exports

Korea needs to step up efforts to increase exports in the service sector to offset a possible decline in the outbound shipment of its major manufactured goods, experts here say. Exports have shored up the slowing Korean economy so far ... Read More

Oil funds lose big on plunging crude prices

South Korea's three oil commodity exchange traded funds have chalked up abysmal returns over the past month due to tumbling crude prices, a fund evaluator said Friday. The oil-focused funds, which are pegged to crude prices, posted an average return ... Read More

Retail sales, industrial output face slump in restructuring-hit regions

Retail sales and industrial output in restructuring-hit regions remained in a slump in the third quarter, government data showed Thursday. According to the data compiled by Statistics Korea, retail sales in South Gyeongsang Province, North Jeolla Province and Ulsan declined ... Read More