News
Agro-food exports to China rebound in September
South Korea's food and agricultural exports to China rebounded for the first time in six months in September, thanks to strong sales of gingseng, ramyeon and beer, the government said Wednesday. Outbound shipments of food and agricultural products to China ... Read More
IMF Raises S. Korea’s Growth Outlook to 3% for 2017
The International Monetary Fund (IMF) has upgraded its growth forecast for South Korea to three percent for both this year and next year. The IMF released the revised outlook in its World Economic Outlook report on Tuesday. The previous estimate ... Read More
Economic Growth Likely to Remain in mid-0% Range in 3Q
With economic recovery losing some steam, South Korea’s economic growth for the third quarter is expected to remain in the mid-zero percent range like it had in the second quarter. According to the Finance Ministry, Bank of Korea and private ... Read More
S. Korea ranks 26th in global competitiveness: WEF report
South Korea’s global ranking in the global competitiveness index remained unchanged at No. 26 this year, held back by challenges in the labor and financial sectors, according to a report by the World Economic Forum. While the macroeconomic environment rose ... Read More![[Monitor] 1 in 5 new businesses opened by young entrepreneurs](https://itpc-busan.kr/wp-content/uploads/2017/09/20170928001120_0-108x175.jpg "[Monitor] 1 in 5 new businesses opened by young entrepreneurs")
[Monitor] 1 in 5 new businesses opened by young entrepreneurs
One in 5 new businesses that opened last year were owned by young people (classified as those in their late teens, 20s, 30s), data by the National Tax Service showed. The most preferred establishments were mail-order businesses, restaurants and commodities ... Read More
Korea’s consumer prices rise 2.1% in Sept.
South Korea's consumer prices continued their sharp growth in September due to high-flying food prices, government data showed Thursday. The country's consumer price index advanced 2.1 percent this month from a year earlier, decelerating from a more than five-year high ... Read More
Back Taxes from Offshore Tax Evasion Post Record 1.3 Tln Won
An offshore tax evasion probe has found that the amount of taxes that South Koreans evaded paying by concealing their assets and income in offshore accounts amounted to a record of some one-point-three trillion won last year. Lawmaker Park Myung-jae ... Read More