Korea's manufacturing sector slumps to 25 years low

Korea's manufacturing sector output fell to its lowest level in 25 years in 2023 mainly due to weak demand for semiconductors amid an industry downcycle.

2024-01-31

North Korea's economy contracts for third straight year

North Korea’s economy shrank for the third consecutive year while the country’s population reached 25.7 million, around half of South Korea’s 51.67 million, according to Statistics Korea’s report on Wednesday.

2023-12-24

Cooling Chinese demand may dampen Korea’s economic recovery

China's consumer demand, dampened by deflation fears and the decaying real estate market, is clouding Korea’s hopes for a turnaround in the second half of 2023. Its staggering economy may weigh down Korea’s key sectors, such as chips, though some...

2023-08-21

Korea's GDP grew 0.6 percent in second quarter

Korea's economy grew for a second consecutive quarter on positive net exports, central bank data showed Tuesday. The country's real gross domestic product (GDP), a key measure of economic growth, increased 0.6 percent on quarter in the April-June...

2023-07-25

Outlook lowered by weak exports, government optimistic

Global institutions are slashing Korea's growth outlook this year to a low 1 percent, citing weak exports and fiscal deficit. But the government remains optimistic, saying the economy will recover in the fourth quarter.

2023-05-22

Beware of Korea’s rush to join the advanced club

nly when the president expels populism from politics can the country move forward.

2023-05-07

[Column] The Korean economy at an inflection point

In the face of warnings of a “permacrisis,” the transitional period calls for structural reform to reassess and rebuild economic fundamentals.

2023-01-17

Concerns loom for Korean economy on weak consumption, exports

The Korean economy is feared to face a bumpy road ahead on high inflation, slowing domestic consumption as well as sluggish exports, the Finance Ministry said Friday.

2023-01-13

Korea's exports down 0.9 percent during first 10 days of January

Korea's exports slipped 0.9 percent on year in the first 10 days of January, data showed Wednesday, as demand for chips and precision machinery slowed.

2023-01-11

Korea posts current account deficit in November amid dwindling exports

Korea posted the first current account deficit in three months in November as exports sharply dwindled amid growing worries over a global economic recession, central bank data showed Tuesday.

2023-01-10

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