S. Korea's exports drop 3.4 pct on-year in Feb.

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S. Korea's exports drop 3.4 pct on-year in Feb.

South Korea's exports shrank 3.4 percent on-year in February, but the trade surplus surged to a new monthly high as imports dropped at a faster rate, the government said Sunday.The country's outbound shipments came to US$41.46 billion last month while imports plunged 19.6 percent on-year t...

Updated : 2015.03.01 09:18

Korean workers’ average age rises past 44

The average age of the employed in South Korea surpassed 44, marking a new high, a state-run statistics agency said Friday.According to Statistics Korea’s data on the country’s economically active p...

Updated : 2015.02.27 20:46

Bank lending rates fall in Jan.

Bank lending rates for new loans in South Korea again trended lower in January after briefly ticking up a month earlier, central bank data showed Friday.  The average rate for new loans to households, companies and other organizations came in at 3.9 percent last month, slipping 0.01 perc...

Updated : 2015.02.27 13:28

Life extension of Wolsong unit 1 reactor approved

The Nuclear Safety and Security Commission approved the life span extension of Wolsong unit 1 reactor until November 2022. The 30-year operating license of the reactor in Gyeongju, North Gyeongsang P...

Updated : 2015.02.27 07:40

[Newsmaker] 'China Valley' in Korea to boost trade

The reclaimed region of Saemangeum, North Jeolla Province, is in the limelight after the government announced plans to create a Korea-China free trade agreement industrial complex in the area.The gove...

Updated : 2015.02.26 21:18

Investments revitalize Gwangyang FEZ

The Gwangyang Bay Area Free Economic Zone in the nation’s southern region is fast recovering from a slowdown caused by the protracted global economic and the weak Japanese yen.The GFEZ specializes in...

Updated : 2015.02.26 20:32

S. Korea's business sentiment hits 6-month low in Feb.

Corporate sentiment in South Korea hit a six-month low in February as companies remained increasingly worried about unfavorable business conditions at home and abroad, a survey showed Thursday.  According to the survey by the Federation of Korean Industries of the country's top 600 compa...

Updated : 2015.02.26 16:30

Finance minister sounds caution in raising corporate tax

South Korea's top economic policymaker sounded caution Thursday against raising corporate taxes, warning it could cause capital outflow and thwart economic recovery.  Speaking at a National Assembly interpellation session, Choi Kyung-hwan stressed it would be ill-advised for South Korea ...

Updated : 2015.02.26 16:28

New KITA chair vows to support smaller firms' overseas expansion

The newly elected chief of a major South Korean business lobby group said Thursday he will focus on helping small and medium enterprises expand overseas and boost exports as part of plans to improve the country's sluggish economic growth.   "(We) have a firm belief that further overseas ...

Updated : 2015.02.26 14:14

Value of M&As in South Korea surges in 2014

The value of mergers and acquisitions reported last year surged as many corporate realignments involved large companies, while total numbers dipped, South Korea's antitrust watchdog said Thursday,   The value of the reported M&As in 2014 jumped 27.3 percent to 210.3 trillion won, up 45.1...

Updated : 2015.02.26 13:17

S. Korea's seaport cargo shrinks 2.6 pct in Jan.

Cargo processed at South Korean seaports fell slightly from a year earlier in January on a slump in exports and imports, the government said Thursday.  The amount of cargo handled at seaports here came to some 120.85 million tons last month, down 2.6 percent from 124.02 million tons in t...

Updated : 2015.02.26 11:24

Import prices of farm, fishery goods down in Jan.

The prices of imported agricultural, livestock and fishery products fell in January compared with the month before, mainly due to a drop in fruits and processed food, customs data showed Wednesday.  According to the data by the Korea Customs Service, the price index for imported agricult...

Updated : 2015.02.25 10:46

Petrochemicals exports down on reduced demand in China last year

South Korea's petrochemicals exports fell slightly last year, marking the first fall in five years since 2009, mainly due to a drop in demand in their biggest export destination, China, data showed Wednesday.   Exports of petrochemicals produced by South Korean firms declined 0.3 percent...

Updated : 2015.02.25 10:45

Households withhold spending on clothing despite income increase

South Korean households spent less on buying clothes and shoes last year, the first such fall on record, data indicated Wednesday, a trend economy watchers say reflect crimped spending.  According to Statistics Korea, a two-person household spent an average 169,000 won ($153) per month o...

Updated : 2015.02.25 10:44

S. Korean consumer sentiment rises for 2nd month in Feb.

Consumer sentiment in South Korea improved for a second month in a row in February as a growing number of people pinned hopes on economic recovery, data showed Wednesday.  The overall consumer sentiment index reached 103 in February, inching up from a revised 102 in the previous month, a...

Updated : 2015.02.25 09:24