Korean economy grows 2% in 2024 as per capita income inches up 1.2%, BOK data shows

Korea's economy grew 2 percent last year, matching an earlier estimate, amid slowing export growth, sagging domestic demand and a political crisis, central bank data showed Wednesday.

2025-03-05

Korean household income outpaces spending for second straight quarter

Korean incomes rose in the fourth quarter of 2024, but spending lagged due to inflation and economic sentiment.

2025-02-27

Gov't warns of 'downward pressure' for 3rd consecutive month in latest economic report

The Ministry of Economy and Finance has warned of a third straight month of downward pressure in its latest Green Book.

2025-02-14

State-run economic think tank cuts Korea's growth outlook to 1.6 percent this year

Korea’s state-run think tank cut its growth outlook for this year by 0.4 percent points to 1.6 percent, citing martial law-driven political turmoil and heightened U.S. policy uncertainties.

2025-02-11

BOK to increase loan program for small businesses, self-employed

The Bank of Korea is upping its support program for small businesses and the self-employed to 14 trillion won amid economic uncertainties and political instability.

2025-01-30

Korea's GDP grows 2 percent, missing expectation, on martial law turmoil

Korea's economy grew 2 percent in 2024, underperforming expectations, due to political turmoil and weak private consumption.

2025-01-23

DP chief meets with banks as party shifts focus to economy

Democratic Party (DP) leader Lee Jae-myung met with the chief executives of Korea’s six major banks on Monday as his party turns its focus to economic issues.

2025-01-20

BOK cuts 2025 growth forecast to 1.7% in rare January release

The Bank of Korea cut its growth forecast for this year from 1.9 percent to 1.6 to 1.7 percent in a rare January disclosure, citing concerns over contracting consumer sentiment on the back of political uncertainties.

2025-01-20

'Reverse base effect' to challenge Korean economy in 2025

Korean economy faces multiple headwinds in the wake of a leap year effect. Tripartite Cooperation in Joint Consultative body is urgently needed.

2025-01-08

Korea’s current account surplus hits seven-month streak in November

Korea reported a current account surplus for the seventh consecutive month in November on the back of solid sales of semiconductors, central bank data showed Wednesday.