BOK leaves door open for another quarter-point rate rise
The Bank of Korea’s (BOK) decision on Thursday to keep its base rate steady at 3.50% does not signal the end of its one-and-a-half-year tighte...
Korea's loan delinquency rates soar; outlook to worsen in H2
South Korean banks are seeing loan delinquency rates surge due to the increase in lending during the pandemic and a series of rate hikes. The rates ...
SpaceX pushes back Starlink's S.Korea launch to Q4
Starlink, low-orbit satellite internet constellation operated by the US aerospace company SpaceX, has delayed the launch of its South Korean service...
Samsung to launch Galaxy A24 in S.Korea to target low-end market
Samsung Electronics Co. announced on Thursday that it will release the Galaxy A24, a budget phone model in the domestic market on Friday to targetin...
SK, Hana Financial groups to jointly develop credit rating model
South Korea’s SK Group and Hana Financial Group are jointly developing a next-generation credit rating model for the financially disadvantaged...
Seoul to lower bar for multi-child family subsidies to raise birth rate
The Seoul Metropolitan Government will change the definition of multi-child families from those with three or more kids younger than 13 to household...
Korean won needs economic fundamentals recovery for rebound
The South Korean won is underperforming most other currencies as Asia’s fourth-largest economy is gradually losing steam for long-term growth....
S.Korea advised to slash corporate inheritance tax to 30%
South Korean entrepreneurs are imposed heavy inheritance taxes of up to 60% to hand down wealth to their children, the highest level among Organizat...
S.Korea's leading low-cost carrier Jeju Air posts record-high Q1 results
South Korea's leading low-cost carrier (LCC) Jeju Air Co. posted record-high performance in the first quarter. Industry analysts say domestic LCCs w...
Seoul eyes opening doors to domestic helpers from Southeast Asia
Seoul is slated to welcome domestic helpers from Southeast Asia later this year to ease the burden of childcare and address issues surrounding Korea...
S.Korea's Air Premia, T'way compete for golden routes to Europe
South Korea's low-cost carriers (LCC) Air Premia and T'way Air Co. are competing to secure "golden routes" to Europe that Korean Air must give up to...
BOK chief says rate cut premature despite slower growth
South Korea’s central bank chief on Wednesday said it is too early to suggest starting to cut interest rates as inflation remains above its ta...
Korea's Kakao Pay to buy 51% of US financial firm Siebert
Kakao Pay Corp., the mobile payment and digital wallet service unit of South Korean tech giant Kakao Corp., announced on Thursday it has signed an a...
S.Korea’s 20-somethings tighten belts due to high interest rates: report
The decline in consumption by 20-somethings due to benchmark interest rate hikes is over eight times greater than those in their 60s.Analysts blame ...
Korea's expected inflation hits 11-month low
South Korea's expected inflation has hit a record low of 3.7% in 11 months in April 2023. While the consumer price index rose by 4.2% last month, wh...
S.Korea’s births fall to record low in February
South Korea's births fell to a fresh low in February in 2023. The number of deaths decreased, but the population continued to decline naturally for ...
S.Korea’s public spending on maternity, child care falls short of OECD average
South Korea’s government budget for tackling the nation's low birth rate has risen to 2.25% of GDP, but housing support accounts for a major p...
Korea avoids recession on strong consumption; outlook still tough
South Korea averted a recession as Asia’s fourth-largest economy rebounded more than expected in the first quarter on strong private consumpti...
Korean auto parts makers’ earnings ride on electrification push
South Korea’s major automotive parts makers are expected to post decent growth in their first-quarter sales and earnings on the back of their ...
S.Korea’s Woori Financial profit up on interest rate margins
Woori Financial Group, South Korea’s fourth-largest financial holding company, logged growth in a quarterly net profit as larger interest rate...
Number of travelers on S.Korea's LCCs jumped 104-fold in Q1
Demand for overseas flights in South Korea has exploded since the resumption of air travel operations amid the substantial easing of COVID-19 restri...
LG Elec to strengthen its direct-to-consumer sales strategy
South Korea's LG Electronics Inc. is strengthening its direct-to-consumer (D2C) strategy and expanding its lineup of low- to mid-priced products to ...
Korean won near 5-month low despite weak dollar; outlook dark
The South Korean won fell to the weakest level in almost five months, underperforming other currencies despite a softer dollar, as sluggish fundamen...
Hankook Tire to cut workforce at fire-hit Daejeon plant
Hankook Tire & Technology Co., South Korea’s largest tire maker, will cut its workforce at the fire-hit production complex in Daejeon thro...
AbClon shows promising results in clinical tests of leukemia treatment
South Korean companies are standing out in the global competition to develop chimeric antigen receptor T-cell (CAR-T) treatments, dubbed "dream" a...
High- and low-income S.Koreans alike reluctant to have babies: Survey
South Koreans in low- and high-income brackets alike are unwilling to have children due to either insufficient time or money, found a recent survey ...
Korean economy unlikely to rebound in H2; BOK may keep rate
South Korea’s economy is unlikely to rebound in the second half as exports are expected to stay weak on the sluggish global semiconductor indu...
S.Korea's airlines boosting staff amid recovering demand for overseas travel
South Korea's airlines are opening their hiring doors wide open with the resumption of international flights amid demand for overseas travel recover...
BOK chief says tightening not over after rate freeze
South Korea’s central bank chief on Tuesday defied market views that the monetary authority may have ended its tightening campaign, citing gro...
S.Korean low-cost carriers keep expanding routes to SE Asia
South Korean low-cost airlines have started expanding their flight routes. It is based on the expectation that there will be a significant incre...
