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S. Korea’s exports decline for 4 straight months amid pandemic, but pace slows as economies reopen

South Korea's exports fell 10.9 percent in June marking the fourth consecutive month of decline amid the fallout from the new coronavirus pandemic, data showed Wednesday, although the pace slowed as major economies around the globe slowly began to resume ... Read More

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 More

S. 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

DRAM prices on downward trend, boding ill for Korean chipmakers

Spot market prices for DRAM chips are on a downward trend after reaching their peak in April, industry data showed Wednesday, boding ill for South Korean chipmakers. The spot price of 8-gigabit DDR4 DRAM, a benchmark price for the category, ... Read More

S. Korea to extend anti-dumping duties on Japanese steel plates for 3 years

SEJONG -- South Korea's finance ministry said Tuesday it will extend anti-dumping duties on Japanese stainless steel plates for three years. South Korea has imposed the 13.17 percent anti-dumping tariff on the Japanese products since 2011, citing substantial damage to ... Read More