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Business sentiment for May pessimistic over intl. trade risks: poll
South Korea's business sentiment remains pessimistic for May, a poll showed Wednesday, amid growing risks associated with global trade. The business survey index of the country's top 600 companies by sales stood at 85 for next month, according to the monthly poll by the Federation of Korean Industries. A reading below 100 means pessimists outnumber optimists, while a figure above the benchmark means the opposite. The index has remained below 100 for 38 consecutive months since April 2022. The BS
April 23, 2025 -
IMF slashes Korea's 2025 growth outlook to 1%
The International Monetary Fund on Tuesday cut its economic growth forecast for South Korea to 1 percent this year, down from 2 percent projected in January. The IMF also revised Korea’s economic growth forecast for 2026 to 1.4 percent, a 0.7 percentage point decrease from the previous 2.1 percent projection. The downgrades come as both domestic and global uncertainties deepen, with increasing trade tensions and policy unpredictability weighing on economic momentum. Meanwhile, the Bank of Korea
April 22, 2025 -
Thailand-Korea forum kicks off in Seoul to deepen economic ties
The Ignite Thailand-Korea Business Forum kicked off in Seoul on Tuesday, providing a platform for participants to explore ways South Korea and Thailand can expand cooperation across diverse sectors. Aimed at deepening bilateral economic ties, the two-day event at Lotte Hotel Seoul was co-hosted by Herald Media Group, the Royal Thai Embassy in Korea, and the Industrial Estate Authority of Thailand. Commemorating the 67th anniversary of diplomatic relations between the two nations, the forum welco
April 22, 2025 -
Seoul shares snap 3-day rise amid Trump uncertainties
South Korean stocks snapped their three-day rise Tuesday on heightened uncertainties ahead of Seoul's tariff negotiations with Washington later this week. The Korean won was trading higher against the US dollar. The benchmark Korea Composite Stock Price Index lost 1.78 points, or 0.07 percent, to close at 2,486.64, ending its three-day losing streak. Trade volume was moderate at 408 million shares worth 6.1 trillion won ($4.3 billion), with winners slightly outnumbering losers 460 to 414. Foreig
April 22, 2025 -
S. Korea to extend fuel tax cut by another 2 months until June
South Korea will extend its fuel tax cut for an additional two months through the end of June in an effort to ease the financial burden on consumers amid rising prices and slowing demand, the finance ministry said Tuesday. Under the extended policy, however, the current 15 percent tax cut on gasoline will be rolled back to 10 percent, while the tax cut on diesel and liquefied petroleum gas will be reduced from 23 percent to 15 percent, according to the ministry. The adjusted fuel tax rates will
April 22, 2025 -
Seoul shares open tad lower amid Trump uncertainties
South Korean stocks opened slightly lower Tuesday, tracking overnight losses on Wall Street sparked by uncertainties deriving from US President Donald Trump's tariff policies and attack on the Federal Reserve. The benchmark Korea Composite Stock Price Index lost 3.72 points, or 0.15 percent, to 2,484.7 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average dropped 2.48 percent, the S&P 500 went down 2.36 percent and the tech-heavy Nasdaq composite declined 2.55 percent a
April 22, 2025 -
3 out of 4 jobless young people say cannot find quality jobs: survey
More than three out of four unemployed young South Koreans believe there is a lack of quality employment opportunities in the country, a survey showed Tuesday. According to the poll by the Federation of Korean Industries, 76.4 percent of respondents said that quality job opportunities were lacking in the country. Specifically, 42.6 percent said quality positions were "somewhat lacking," and 33.8 percent said they were "severely lacking." Only 1.2 percent responded that such opportunities were "m
April 22, 2025 -
Producer prices little changed in March amid decline in oil prices: BOK
South Korea's producer prices were nearly unchanged from a month earlier in March amid falling global oil prices, central bank data showed Tuesday. The producer price index, a major barometer of consumer inflation, reached 120.32 last month, compared with 120.33 in February, according to preliminary data from the Bank of Korea. On a yearly basis, the index rose 1.3 percent last month, marking the 20th consecutive month of on-year increase. The BOK said rising agricultural and other food prices o
April 22, 2025 -
S. Korea's exports of dried seaweed hit record high in Q1
South Korea's exports of dried seaweed products, known as "gim" in Korean, reached an all-time high in the first quarter, driven by growing global demand for the food, data showed Monday. Outbound shipments of gim reached $281 million in the first three months of the year, up 21.1 percent from a year earlier, according to the data compiled by the Korea Agro-Fisheries & Food Trade Corp. The figure is the highest for any first quarter. The volume of gim exports increased 7.5 percent on-year to 10,
April 21, 2025 -
Exports down 5.2% in first 20 days of April
South Korea's exports went down 5.2 percent on-year in the first 20 days of April, data showed Tuesday. Outbound shipments reached $33.87 billion in the April 1-20 period, compared with $35.75 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports decreased 11.8 percent on-year to $34 billion during the period, resulting in a trade deficit of $1 billion. In March, exports gained 3.1 percent from a year earlier to $58.3 billion, marking a second consecutive
April 21, 2025 -
Korea, US to hold high-level tariff talks in Washington this week
South Korea and the United States will hold tariff talks in Washington, DC later this week, the Korean government said Sunday. According to the announcement, Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok and Minister of Trade, Industry and Energy Ahn Duk-geun will attend the levy discussions with their US counterparts, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer. The Korean government said the trade consultation is taking place at the reques
April 20, 2025 -
Household loans by major banks rise by W2.5tr won in April
Household loans extended by five major banks in South Korea rose by 2.5 trillion won ($1.7 billion) this month, industry data showed Sunday. Household loans extended by the five commercial banks, including KB Kookmin Bank, Shinhan Bank and Hana Bank, stood at 741.509 trillion won as of Thursday, according to the data from the banks. The increase comes after the government lifted the land transaction permission system in February in some areas of Seoul's affluent Gangnam, Seocho and Songpa distri
April 20, 2025 -
Number of unsold new homes hits near 12-year high
The number of unsold new homes in South Korea has reached the highest level in 11 years and five months, data showed Sunday, due mainly to weak demand for new homes in provincial regions. There were 23,722 unsold new apartments nationwide as of the end of February, doubling from 11,855 tallied a year earlier, according to the data by the Ministry of Land, Infrastructure and Transport. It marked the highest level since South Korea saw 24,667 unsold new homes in September 2013. About 8 out of 10 u
April 20, 2025 -
Concerns grow over S. Korean economy growing 0.1% or less for 4th quarter
Concerns are growing over the possibility of the South Korean economy growing by 0.1 percent or less for the fourth consecutive quarter for the first time in its history, data showed Sunday. Such an outlook comes as the Bank of Korea is set to announce the country's real gross domestic product growth of the first quarter on Thursday, after hinting in a recent report that the quarterly growth could come under 0.2 percent, weighed down by household debts and weak domestic demand amid growing uncer
April 20, 2025 -
National debt without payment resources to near W900tr
South Korea's national debt without available payment resources is projected to near 900 trillion won ($634 billion) this year, the government said Sunday. The country's national debt is expected to reach 885.4 trillion won in 2025, up 11.8 percent from a year earlier, according to the Ministry of Economy and Finance. The amount, if realized, will account for 69.2 percent of the country's overall national debt, up from 66.3 percent last year. Part of the annual increase may come from a 12.2 tril
April 20, 2025