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BOK freezes key rate amid virus fallout and growing household debt

South Korea's central bank froze its key interest rate at a record low Wednesday amid heightened economic uncertainties over the protracted coronavirus outbreak and rising housing prices. The Bank of Korea (BOK) also voiced concerns about the fast growth of ... Read More

FDI pledges to S. Korea up 43.6% in Q3 despite pandemic

Foreign direct investment (FDI) pledges to South Korea shot up 43.6 percent in the third quarter of 2020 from a year earlier, data showed Tuesday, as the manufacturing segment drew a massive investment commitment. Asia's No. 4 economy received $5.23 ... Read More

Economy remains subdued as virus resurgence hits demand: KDI

South Korea's economy remained subdued as a recent resurgence of new coronavirus infections hit domestic demand, a state-run think tank said Monday. "The Korean economy remains subdued led by domestic demand due to a resurgence of COVID-19," the Korea Development ... Read More

Exports drop 28.8% in first 10 days of October

South Korea's exports dropped 28.8 percent on-year in the first 10 days of October amid the fallout from the new coronavirus outbreak, customs data showed Monday. The nation's outbound shipments stood at $9.3 billion in the Oct. 1-10 period, compared ... Read More

S. Korea’s rice output forecast to dip 3% in 2020

South Korea's rice output is expected to shrink 3 percent in 2020 due mainly to bad weather conditions and reduced cultivation area, government data showed Thursday. The country's rice production is likely to come to 3.63 million tons this year, ... Read More

S. Korea lags behind in hydrogen charging infrastructure

South Korea needs to further expand the country's hydrogen charging infrastructure as it lags behind advanced countries amid growing interest in zero-emission vehicles, a business association said Thursday. South Korea has emerged as a major player in technologies involving hydrogen ... Read More

S. Korea logs current account surplus for 4th month in Aug.

South Korea posted a current account surplus for the fourth straight month in August as exports declined at a slower pace than imports amid major economies' reopenings after the pandemic-caused lockdowns, the central bank said Thursday. The current account surplus ... Read More

S. Korea adopts tougher safety measures at ASF-hit farms

South Korea said Wednesday it has set up new guidelines for pig farms hit by African swine fever (ASF) as they are gradually preparing for reopening after the disease swept the inter-Korean border area last year. "As the virus can ... Read More