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Korea’s growth prospects continue yearslong decline: OECD report
The Organisation for Economic Cooperation and Development (OECD) has once again lowered Korea’s potential economic growth this year, with a recent report forecasting a 2.5 percent growth potential, down from 2.7 percent one year ago. Potential GDP…
Jan 29,2020
Export drop linked to U.S.-China trade dispute
Semiconductors continued to top the list of Korea’s largest export items last year, data released Tuesday by the Korea Customs Service showed. Outbound shipments of semiconductors came to 110.5 trillion won ($93.9 billion) in 2019, accounting for …
Jan 29,2020
More Philippine FTA negotiations to be held
Korea said Tuesday it plans to hold the fifth round of talks with the Philippines on an FTA this week, with a goal of concluding the deal this year. During the three-day negotiations, which begin today in Manila, the two countries plan to set deta…
Jan 29,2020
Markets respond as virus fear starts to affect the economy
The Wuhan coronavirus is making the markets ill as well. Stocks plummeted Tuesday as it became apparent that the deadly disease would have a significant impact on the real economy, forcing the shutdown of some China-based production and hindering…
Jan 29,2020
Retail, wholesale industries slide to five-year low
The growth of Korea’s wholesale and retail industries slowed to its lowest level in five years last year amid sluggish demand at home, according to data released by the central bank Tuesday. The output by the wholesale and retail industries, inclu…
Jan 29,2020
Gig economy from the ‘Baemin rider’ perspective
The slogan of Baemin Riders is “work whenever, wherever, as much as you want.” It turns out, you may have to work a whole lot just to make ends meet, completing roughly 400 deliveries a month. The basic concept is simple, straightforward an…
Jan 29,2020
Elections may play major role in 2020 growth
While the Korean government is hoping for a 2.4 percent economic growth this year, the Bank of Korea (BOK) projects a slightly lower growth of 2.3 percent. If so, this would be the first time that the Korean economy has expanded in the 2-percent …
Jan 28,2020
More boars with African swine fever discovered
Korean quarantine authorities said Monday they have found more wild boars infected with the deadly African swine fever (ASF) virus in areas near the border with North Korea, bringing the number of such cases to 115. Nine additional wild boars foun…
Jan 28,2020
Disinfecting diners
Gangnam Public Health Center employees on Monday conduct disinfection measures at a restaurant in Gangnam District, southern Seoul, where the third person confirmed to be infected with the coronavirus in Korea visited before being quarantined on Satu…
Jan 28,2020
Gridlock!
Cars and trucks are jammed near the Jamwon intersection of the Gyeongbu Expressway, in Seocho District, southern Seoul, on Thursday, a day ahead of the four-day national holiday for the Lunar New Year. The most heavily traveled expressway in Korea, G…
Jan 24,2020
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