Per capita rice consumption hits all-time low in 2014

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S. Korea seeks to ship rice to China as it moves to lift export restrictions

South Korea is seeking to ship rice to the vast Chinese market as it moves to lift export restrictions on the staple grain, officials said Tuesday.The agriculture ministry said it was seeking revisions to the outdated laws and clauses that restrict the volume and price of rice shipped abro...

Updated : 2015.01.27 09:35

Record number of individual debtors apply for bailout program in

The number of South Koreans who filed for a personal debt bailout program rose 4.6 percent to a record high last year, data showed on Tuesday, amid concerns that household debt in Asia's fourth-largest economy is growing at a worrisome pace.A total of 110,707 people applied for a state-man...

Updated : 2015.01.27 09:15

S. Korean consumer sentiment snaps 3-month fall in Jan.

Consumer sentiment in South Korea improved for the first time in four months in January despite the central bank's sharp downward revision of this year's growth forecast, data showed Tuesday.The overall consumer sentiment index (CSI) reached 102 in January, inching up from a revised 101 in...

Updated : 2015.01.27 09:09

Seoul to streamline customs procedure for Chinese consumers

Korea Customs Service Commissioner Kim Nak-hoe (right) shakes hands with foreign ambassadors during the 33rd Annual International Customs Day at a Seoul hotel on Monday. (Yonhap)South Korea will strea...

Updated : 2015.01.26 21:20

Gov't to keep current account surplus under 2014 level: finance minister

The government will try to keep this year's current account surplus below the 2014 level to prevent sharp appreciation of the South Korean won against the U.S. dollar, the country's top economic policymaker said Monday.Finance Minister Choi Kyung-hwan's remarks, made at a meeting with the ...

Updated : 2015.01.26 15:16

Park calls for easing public difficulties over controversial tax scheme

President Park Geun-hye called on officials Monday to address the government's new tax settlement scheme that has sparked fierce public backlash.The new scheme is designed to collect less taxes throughout the year and return less in overcharge during tax settlements at the start of a new y...

Updated : 2015.01.26 13:35

Gov't to reflect corporate deregulation demands to help boost

The government will tackle deregulation demands made by companies to help them hire more workers, make investments and carry out critical business reforms, top economic policymaker pledged Monday.At a meeting with the Korea Chamber of Commerce and Industry (KCCI), finance minister Choi Kyu...

Updated : 2015.01.26 13:20

Seoul to streamline customs procedure for Chinese consumers:

South Korea will streamline its customs clearance to better sell South Korean goods directly to Chinese consumers in March, which could give local firms a price advantage over overseas rivals, the head of the country's customs service said Monday.In an interview with Yonhap News Agency, Ko...

Updated : 2015.01.26 10:38

S. Korean firms set to raise dividend payouts for 2014

South Korean companies are set to increase dividend payouts for 2014 under growing government pressure to return more to shareholders, data showed Monday. Among the 18 listed companies that have announced their dividend plans as of Friday, 15 said they would deliver more to shareholders wi...

Updated : 2015.01.26 10:36

ECB quantitative easing in line with market forecast: BOK chief

The additional quantitative easing by the European Central Bank is likely to have limited impact on the South Korean financial market as the measure has mostly been priced in, the central bank chief said Friday."The ECB's measure was already factored in the market," Bank of Korea Gov. Lee ...

Updated : 2015.01.23 09:30

Seoul shares open higher on ECB push

South Korean stocks opened higher Friday on the European Central Bank's announcement of a massive stimulus for the eurozone, analysts said.The benchmark Korea Composite Stock Price Index advanced 18.26 points, or 0.95 percent, to 1,939.08 in the first 15 minutes of trading.The ECB said it...

Updated : 2015.01.23 09:26

S. Korea's Q4 economic growth slowest in 2 yrs

The South Korean economy expanded at the slowest pace in more than two years in the fourth quarter, central bank data showed Friday, raising concerns over faltering growth.Asia's fourth-largest economy grew 0.4 percent during the October-December period, sharply decelerating from the 0.9 p...

Updated : 2015.01.23 09:22

[Graphic News] Korean firms’ profitability drops sharply

South Korean companies have dropped in profitability from last three years, according to industry data released on Monday.The ratio of net income to sales at South Korean businesses from 2012-2014 fel...

Updated : 2015.01.22 21:52

S. Korea central bank suggests further rate cuts on hold

South Korea's central bank governor on Thursday appeared to rule out any further rate cut in the short term, and said the bank's decision to slash its 2015 economic growth was no cause for pessimism.After two rate cuts last year, the Bank of Korea's benchmark rate is currently at a record-...

Updated : 2015.01.22 10:57

BOK chief plays down further rate cut

South Korea's top central banker on Thursday took a cautionary stance on the country's ever-growing household debt level, seemingly taking a step back from an additional rate cut."Because of the increase in household debt since October, we are very closely paying attention to ensuring fina...

Updated : 2015.01.22 10:04