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Rival parties stand apart over government’s drive for ‘income-led growth’

Opposition parties have ratcheted up their criticism against the government's drive for "income-driven growth" following their crushing defeat in the recent local elections, calling for an outright review on the policy. The ruling Democratic Party is defending the economic policy, ... Read More

Emerging trade war weighs on Korea’s exports

An emerging trade war between the US and China is weighing on Korea’s exports, which have been losing traction this year. A 25 percent US tariff on $34 billion worth of Chinese goods is set to take effect from July ... Read More

Gov’t to Begin Domestic Procedures for FTA Talks with Russia

The Ministry of Trade, Industry and Energy said it has agreed with Russia to immediately begin domestic procedures to launch bilateral free trade negotiations in service and investment sectors. The ministry said it signed a joint declaration with the Russian ... Read More

US-China trade dispute will have limited impact on Korea: study

The escalating trade dispute between the United States and China is expected to affect South Korea's exports to the world's two largest economies, but only to a limited extent, a study showed Thursday. The US has threatened to impose a ... Read More

S. Korea’s macroeconomic policy had effect on growth: OECD report

South Korea’s notable economic advancement over recent years was largely attributable to its conglomerate-led and export-oriented growth model, backed by sound fiscal and monetary policies and intense investment into physical and human capital, according to an international report. Asia’s fourth-largest ... Read More

Meriahnya acara Open House di KBRI Seoul

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Korea needs a boost to domestic demand

With the prospects for Korea’s exports in the coming years dimming, there is increased pressure to expand domestic demand, particularly by promoting service industries through drastic deregulation. A downturn in exports, which have shored up Asia’s fourth-largest economy in recent ... Read More

Self-employed biz earnings growth falls to 6-year low in 2017: report

The earnings growth rate for South Korea's self-employed businesses fell to a six-year low in 2017 amid social and economic changes under way in Asia's fourth-largest market, official data showed Sunday. Profit growth by relatively small, self-employed businesses reached 1 ... Read More