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Jeju Air to Temporarily Suspend Cargo Plane Operation
[Economy] : Jeju Air, which reduced passenger flights following last month's deadly plane crash to focus on bolstering passenger safety, will also temporarily suspend its cargo plane operations. According to the transport ministry, Jeju Air will not operate freighters between February 2 and March 29. Cargo ...[more...]
Published: 6 hours ago
FTC Penalties for Antitrust Violations Increase More than 26% in 2024
[Economy] : The penalties that the state antitrust agency imposed on businesses last year increased more than 26 percent from 2023. According to the corporate data research firm CEO Score, the Fair Trade Commission(FTC) levied 550-point-two billion won, or around 383 million U.S. dollars, in fines in 2024, up ...[more...]
Published: 7 hours ago
Hyundai Engineering & Construction Posts First Deficit in 23 Years
[Economy] : Hyundai Engineering & Construction saw its first deficit in 23 years after suffering its worst earning shock last year due to Hyundai Engineering’s massive losses in overseas projects. The company revealed the tentative assessment Wednesday, saying it recorded an operating loss of some one-point-two ...[more...]
Published: 8 hours ago
KOSPI Up 1.15% Wednesday
[Economy] : The benchmark Korea Composite Stock Price Index jumped 29-point-03 points, or one-point-15 percent, on Wednesday to close at two-thousand-547-point-06. The tech-heavy KOSDAQ gained six-point-24 points, or zero-point-86 percent, to close at 732-point-31.[more...]
Published: 9 hours ago
More than 26 Million Vehicles Registered in 2024
[Economy] : The number of registered vehicles in South Korea surpassed 26 million last year, with eco-friendly cars accounting for over ten percent of the total for the first time. According to the transport ministry on Wednesday, the total number of registered vehicles came to nearly 26-point-three million as of the ...[more...]
Published: 15 hours ago
Consumer Sentiment Improves Slightly in January
[Economy] : Consumer sentiment in the country slightly improved in January but failed to recover to the levels seen before the December 3 martial law decree. According to the Bank of Korea on Wednesday, the Composite Consumer Sentiment Index(CCSI) stood at 91-point-two in January, up three points from the previous ...[more...]
Published: 15 hours ago
Trade Minister: Exports Likely to Suffer in First Half
[Economy] : Trade minister Ahn Duk-geun says the nation’s exports are likely to face hardship particularly in the first half of the year, adding that the government is preparing to unveil next month emergency export measures. Ahn made the remark on Tuesday when he visited the Korea International Trade ...[more...]
Published: 1 day ago
KOSPI Down 0.08% Tuesday
[Economy] : The benchmark Korea Composite Stock Price Index slid two-point-02 points, or zero-point-08 percent, on Tuesday to close at two-thousand-518-point-03. The tech-heavy KOSDAQ lost one-point-59 points, or zero-point-22 percent, to close at 726-point-07.[more...]
Published: 1 day ago
Producer Prices Rise for Second Month in December
[Economy] : Producer prices rose for the second consecutive month in December due to the won’s sharp depreciation against the U.S. dollar and a rise in global oil prices. The Bank of Korea said Tuesday that the producer price index for all commodities and services rose zero-point-three percent from a month earlier ...[more...]
Published: 2 days ago
Exports Fall 5.1% in First 20 Days of January
[Economy] : Exports decreased about five percent year-on-year in the first 20 days of January due to fewer working days. According to preliminary data from the Korea Customs Service on Tuesday, the country’s outbound shipments reached 31-point-six billion U.S. dollars during the cited period, down five-point-one ...[more...]
Published: 2 days ago
S. Korea, Malaysia to Hold Sixth Round of FTA Talks This Week
[Economy] : South Korea and Malaysia are set to hold the sixth round of official talks for a bilateral free trade agreement(FTA) this week. The Ministry of Trade, Industry and Energy said Tuesday that the two nations will hold the negotiations virtually from Tuesday to Friday. The two sides declared the ...[more...]
Published: 2 days ago
KOSPI Down 0.14% Monday
[Economy] : The benchmark Korea Composite Stock Price Index slid three-point-five points, or zero-point-14 percent, on Monday to close at two-thousand-520-point-05. The tech-heavy KOSDAQ gained two-point-97 points, or zero-point-41 percent, to close at 727-point-66.[more...]
Published: 2 days ago
BOK Lowers 2025 Growth Outlook
[Economy] : The Bank of Korea(BOK) has lowered this year’s economic growth forecast to between one-point-six percent and one-point-seven percent. The latest outlook was revealed in the central bank’s economic assessment report, released Monday. In November 2024, the BOK had forecast one-point-nine percent growth ...[more...]
Published: 2 days ago
Avg. Prices of Gasoline, Diesel Increase for 14th Week
[Economy] : The average prices of gasoline and diesel both increased for the 14th consecutive week amid the concurrent rise of foreign exchange rate and international oil prices. According to the Korea National Oil Corporation's(KNOC) price information system Opinet on Saturday, the average price of gasoline ...[more...]
Published: 4 days ago
IMF Revises Down 2025 Growth Outlook for S. Korea to 2%
[Economy] : The International Monetary Fund(IMF) has revised down its growth outlook for the South Korean economy this year, while upwardly adjusting the global growth forecast . According to Seoul's finance ministry on Friday, the IMF projected South Korea's real gross domestic product(GDP) to expand two ...[more...]
Published: 5 days ago
KOSPI Inches Down 0.16% Friday
[Economy] : The benchmark Korea Composite Stock Price Index lost three-point-94 points, or zero-point-16 percent, on Friday to close at two-thousand-523-point-55. The tech-heavy KOSDAQ gained zero-point-45 points, or zero-point-06 percent, to close at 724-point-69.[more...]
Published: 5 days ago
Finance Ministry Releases Grim Economic Assessment amid Poor Employment Data
[Economy] : The government’s concerns about the economy have increased since the country was under martial law on December 3. The Ministry of Finance and Economy released its monthly economic report or Green Book for January on Friday, revealing that employment is slowing down and downward pressure on the economy is ...[more...]
Published: 5 days ago
BOK Chief: Extra Budget Worth at Least 15 Trillion Won Needed to Boost Economy
[Economy] : Bank of Korea(BOK) Gov. Rhee Chang-yong says a supplementary budget worth some 15 trillion to 20 trillion won is needed to ease an expected decline in economic growth. That’s between ten billion and 13-point-seven billion U.S. dollars. Rhee made the announcement Thursday in a news conference after ...[more...]
Published: 6 days ago
BOK Keeps Key Interest Rate at 3%
[Economy] : Anchor: The Bank of Korea has kept the key interest rate steady at three percent. Though there were projections that the central bank would cut the key rate to boost consumption, it apparently decided to freeze it and observe external economic conditions, including the launch of the second Donald Trump ...[more...]
Published: 6 days ago
KOSPI Gains 1.23% Thursday
[Economy] : The benchmark Korea Composite Stock Price Index rose 30-point-68 points, or one-point-23 percent, on Thursday to close at two-thousand-527-point-49. The tech-heavy KOSDAQ gained 12-point-63 points, or one-point-77 percent, to close at 724-point-24.[more...]
Published: 6 days ago
BOK Governor Cites Weak Currency as Reason for Rate Freeze
[Economy] : Bank of Korea(BOK) Gov. Rhee Chang-yong said Thursday that a rate cut would be appropriate considering the current state of the economy, but cited the weak currency in explaining the latest rate freeze. The remarks come after the BOK’s Monetary Policy Committee decided earlier in the day to keep the ...[more...]
Published: 6 days ago
S. Korea, China Resume FTA Talks on Service, Investment
[Economy] : South Korea and China have resumed negotiations on the expansion of their free trade agreement to include services and investment, for the first time in four years. The Ministry of Trade, Industry and Energy said Thursday that the two nations are holding the tenth round of talks for a three-day run in ...[more...]
Published: 7 days ago
Stock, Bond Markets Lose nearly 5.7 Trillion Won in Foreign Investment in December
[Economy] : Nearly five-point-seven trillion won in foreign investment was taken out of the South Korean stock and bond markets last month, when the country was briefly under martial law. According to the Bank of Korea(BOK) on Wednesday, there was a net outflow of three-point-86 billion U.S. dollars from the domestic ...[more...]
Published: 1 week ago
KOSPI Down 0.02% Wednesday
[Economy] : The benchmark Korea Composite Stock Price Index lost zero-point-59 points, or zero-point-02 percent, on Wednesday to close at two-thousand-496-point-81. The tech-heavy KOSDAQ shed six-point-43 points, or zero-point-nine percent, to close at 711-point-61.[more...]
Published: 1 week ago
KOSPI Up 0.31% Tuesday
[Economy] : The benchmark Korea Composite Stock Price Index rose seven-point-84 points, or zero-point-31 percent, on Tuesday to close at two-thousand-497-point-four. The tech-heavy KOSDAQ climbed nine-point-83 points, or one-point-39 percent, to close at 718-point-04.[more...]
Published: 1 week ago
Hyundai, Kia Achieve Record Exports of Eco-Friendly Vehicles in 2024
[Economy] : Hyundai Motor and its affiliate Kia Corporation achieved record exports of eco-friendly vehicles last year. According to tentative data from the two South Korean automakers on Tuesday, they sold 707-thousand-853 eco-friendly cars in the global market in 2024, up three percent from a year ...[more...]
Published: 1 week ago
KOSPI Down 1.04% Monday
[Economy] : The benchmark Korea Composite Stock Price Index lost 26-point-22 points, or one-point-04 percent, on Monday to close at two-thousand-489-point-56. The tech-heavy KOSDAQ went down nine-point-68 points, or one-point-35 percent, to close at 708-point-21.[more...]
Published: 1 week ago
Exports Rise 3.8% during First 10 Days of January
[Economy] : Exports rose about four percent year-on-year in the first ten days of January on the back of exports of semiconductors and automobiles. According to preliminary data from the Korea Customs Service on Monday, the country’s outbound shipments reached 16 billion U.S. dollars during the cited period, up ...[more...]
Published: 1 week ago
S. Korea's Air Passenger Traffic in 2024 Rises to Pre-Pandemic Levels
[Economy] : South Korea's air passenger traffic reached more than 120 million people last year, approaching pre-pandemic levels. According to data from the Ministry of Land, Infrastructure and Transport on Sunday, the number of air passengers at South Korean airports last year came to over 120 million, up ...[more...]
Published: 1 week ago
Estimated Cost of Preparing Lunar New Year Table Hits Record
[Economy] : South Koreans are expected to see a sharp rise in the expenses to prepare the traditional dishes for the memorial services during this year's Lunar New Year holiday, or "Seollal" in Korean. According to the Korea Price Information on Sunday, an average 302-thousand-500 won will be needed to set up the ...[more...]
Published: 1 week ago
