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Korea’s economy to grow 2.8% in 2017

South Korea's economy is expected to grow 2.8 percent this year due to a weakening in business investment, a non-governmental think tank said Sunday. The Korea Economic Research Institute said it is lowering growth numbers for 2017 from the previous ... Read More

Korea to promote social economy as new economic engine

The South Korean government said Wednesday that it will promote the "social economy" sector in a bid to expand its contribution to employment and build up a social safety net. The Presidential Committee on Job Creation held a meeting chaired ... Read More

South Korea’s export prices inch up

South Korea’s export prices increased slightly last month from August largely due to rising prices of oil and raw materials, the Bank of Korea said Wednesday. Based on local currency, the prices rose 0.9 percent in September from the previous ... Read More

Washington’s Growing Trade Pressure on the Korean Economy

Dark clouds are appearing over the Korean economy. South Korea and the U.S. have agreed to begin procedures to revise their free trade agreement or FTA, with the U.S. hinting at the possibility of imposing safeguard restrictions on Korean washing ... Read More

[Statistics] South Korea Economic growth rate

According to data by the Bank of Korea and Statistics Korea, the economic growth rate has continued to decrease in the past decades throughout three different administrations, dropping significantly from around 5 percent of growth rate recorded in the 2000s. ... Read More

Trade Expo Indonesia 2017 Record US $ 1.26 Billion Transaction

Trade Expo Indonesia (TEI) in 2017 recorded a total transaction worth US $ 1.26 billion or 24.3% higher than last year's realization of US $ 1.02 billion. The number of visitors also increased from 15,567 people to 22,088 people. Trade ... Read More

Korea eyes lead in ‘4th industrial revolution’

The South Korean government is gearing up to expand and systemize support for industries to lead in the “fourth industrial revolution” that is anticipated to bring about some 40 trillion won ($35.3 billion) in economic effects. On Tuesday, President Moon ... Read More

Growth policy refocused as economy weakens

Data released last week pointed to the deepening sluggishness of the Korean economy, strengthening the case for readjusting the new administration’s policy focused on expanding welfare benefits and guaranteeing higher wages and a more secure job status for employees. Retail ... Read More