The IMF predicts that Korea's general government gross debt will reach 60 percent of its GDP by 2029. Global public debt is projected to approach 100 percent of GDP by the end of the decade.
The supply chain resilience agreement under the Indo-Pacific Economic Framework went into effect on Wednesday, the Ministry of Trade, Industry and Energy said.
More than half of foreign wage workers in Korea earned between 2 million and 3 million won per month last year, according to Statistics Korea.
The finance ministers of Korea and Japan jointly addressed the recent drastic depreciation of their respective countries' currencies against the dollar, signaling potential market intervention on Tuesday.
The International Monetary Fund (IMF) retained its forecast for Korea's economic growth for this year at 2.3 percent.
The won hit a 17-month low on Tuesday as the Kospi and Kosdaq markets also posted losses amid rising tension in the Middle East and a strengthening dollar.
The won depreciated to a 17-month low of 1,400 won to the dollar during mid-trading on Tuesday.
Korea's import prices climbed for a third consecutive month in March, driven by the deprecating won and rising oil prices amid persisting geopolitical tensions in the Middle East.
Outbound shipments of ICT products came to $18.8 billion last month, up 19.4 percent from $15.8 billion a year earlier, according to data compiled by the Ministry of Science and ICT.
Korea and Georgia kicked off another round of talks for a comprehensive economic partnership on trade and supply chains, Korea’s Trade Ministry said Monday.
Korea JoongAng Daily Sitemap