North Korea recently submitted to the United Nations a voluntary national review of the sustainable development goals it agreed to achieve. The report offered a glimpse of the economic conditions in the reclusive state, which...
The economic recovery could face a setback as Covid-19 case numbers rise and the Delta variant threatens the country, a government think tank warned.
Industrial production rose 15.6 percent in May on year, Statistics Korea reported Wednesday, the fastest rate since June 2010. On month, it fell 0.7 percent.
The government set its economic growth target at 4.2 percent for this year. That's a major jump from its previous target of 3.2 percent and even higher than the 4 percent goal announced by President Moon Jae-in in May.
The FSC chairman said the Korean government has pledge to no longer invest in fresh projects building coal-powered generators -- even as a way of helping developing countries abroad.
Inequalities are the greatest threat to a robust economic recovery from the Covid-19 pandemic, said Eun Sung-soo, Financial Services Commission (FSC) chairman. The FSC chairman said the government will execute an orderly exit on Covid-19 policies.
Industrial production rose 12.4 percent on year, according to Statistics Korea Monday, the sixth consecutive increase in the figure and the fastest growth in the statistic in over two years.
According to the Bank of Korea, consumer confidence for this month has risen to its highest level in nearly three years thanks to growing expectations of an economic recovery.
According to the Ministry of Economy and Finance on Tuesday, in the first three months of this year the government collected 88.5 trillion won in taxes. That is a first quarter record and a 27.3 percent increase on year.
The Asian Development Bank (ADB) on Wednesday predicted Korea’s economy will expand 3.5 percent this year, an improvement over the 3.3 percent projected in December.