The Asian Development Bank (ADB) forecast the Korean economy to contract 1.0 percent in 2020, and that's good news considering that the estimate is unchanged from June.
Bank of Korea statistics suggests a recession coming in 2020, the first since 2003. It said Tuesday that growth will be negative in the second quarter followed by the negative growth reported in the first quarter.
To get a sense of what the future holds for Korea’s employment picture, you don't have to look much farther than Incheon International Airport last weekend. Even at the start of the busiest travel holidays, the departure terminal sat nearly empty.
The total borrowing by chaebol amounted to 89 trillion won as of the end of April, according to data provided by five major local banks Monday. This is an unprecedented amount, say analysts in the finance industry.