Park calls UPP dissolution 'historical decision'

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BOK policy board member stresses household debt risk

A central bank policy board member on Friday stressed the need for a soft landing of the country's household debt, citing it as one of the economy's weakest spots.   "The household debt issue has mounted for decades. While it was not a problem when the property market was booming, situa...

Updated : 2014.12.19 15:41

Finance minister pledges structural reforms next year

Finance Minister Choi Kyung-hwan said Friday that the government will focus on structural reforms in key economic sectors next year to improve the fundamentals of the South Korean economy and revive the nation's growth potential.   "The government will increase the efficiency of the pub...

Updated : 2014.12.19 11:40

Exports of semiconductors reach record high

South Korea’s exports of semiconductors have reached a new annual high, exceeding $60 billion for the first time, the government said Thursday.“Outbound shipments of semiconductors reached over $60 billion as of today, making them the only item worth more than $60 billion in annual expor...

Updated : 2014.12.18 21:00

Korea-China FTA to create $28bn worth of economic benefits: Citibank

Citibank Korea chief economist Chang Jae-chul (Citibank)A free trade deal between South Korea and China is expected to yield about $28.6 billion (30 trillion won) worth of economic benefit in the next...

Updated : 2014.12.18 19:19

Seoul shares slip 0.21% on Russia, oil woes

South Korean stocks ended 0.21 percent lower Wednesday as investors stepped to the sidelines amid worries over weakening oil prices and financial instability in Russia while waiting for the results of a Fed policy meeting, analysts said. The local currency fell against the U.S. dollar.Afte...

Updated : 2014.12.17 20:56

Producer prices slump to 4-year low in November

Producer prices in South Korea plunged to a near four-year low in November due to a continued fall in global oil prices, central bank data showed Wednesday.The producer price index, a barometer of future consumer inflation, reached 104.14 in November, down 0.9 percent from the previous yea...

Updated : 2014.12.17 20:55

Korea-Vietnam trade volume to break record

The amount of trade between South Korea and Vietnam this year is forecast to top 30 billion won ($27.67 million) to reach an all-time high, data showed Wednesday, raising anticipation of further expansion once the recently agreed bilateral free trade pact goes into effect.Trade volume betw...

Updated : 2014.12.17 20:54

S. Korea monitors Russia risk but banks report minor exposure

South Korea said Wednesday it was closely watching for any fallout from the Russian risk sparked by the falling ruble and oil prices, while banks reported a safe level of market exposure.   Local banks and non-bank institutions' exposure to Russia stood at US$1.36 billion as of Septembe...

Updated : 2014.12.17 12:26

Some 42 tln won of mortgage loans to mature next year as household debt fears grow

Some 42 trillion won (US$38.8 billion) in short-term mortgage loans will mature next year, data from financial regulators showed Wednesday, raising concerns amid soaring household debts and no sure signs of the real estate market picking up.   Out of 337.7 trillion won in mortgage loans...

Updated : 2014.12.17 10:42

[Graphic News] Korea’s gross national income up by 30,000-fold

South Korea’s nominal gross national income has increased about 30,000-fold in 60 years from 48.3 billion won ($44 million) to 1,441 trillion won, according to the adjusted national accounts released...

Updated : 2014.12.16 21:36

[SUPER RICH] Going the extra mile in philanthropy

Over the last 20 years, there has been a tremendous increase in the number of the world’s superrich and their wealth. The total assets of 1,645 billionaires with over $1 billion this year stood at $6...

Updated : 2014.12.15 21:24

Earnings-backed stocks outperform market

Stocks with good earnings records have delivered good returns to investors this year, data showed on Monday, proving that profits are ultimately one of the primary drivers of stock prices. According to the data compiled by the Korea Exchange, the share prices of 250 listed companies that p...

Updated : 2014.12.15 21:09

Korea logs trade surplus for 34 straight months

South Korea posted a trade surplus for a 34th straight month in November despite a fall in overseas shipments, customs data showed Monday.According to the data by the Korea Customs Service, the country’s trade surplus came to $5.5 billion last month, down from the all-time high of $7.2 bi...

Updated : 2014.12.15 21:07

S. Korea likely to grow 3.7 pct in 2015: think tank

The South Korean economy will likely grow 3.7 percent next year on the back of improving exports and expanding domestic consumption following a recovery in the United States, a think tank said Monday.   The Korea Institute of Finance (KIF) said in a report that the growth rate will hit ...

Updated : 2014.12.15 15:42

Average loan total per person rises to nearly 50 mln won

The number of debtors and their credits from local banks are projected to hit record highs this year amid rising household debts, industry data indicated Monday.   Some 10.5 million people took out loans from commercial banks as of the end of June, data showed, for a total amount of 487...

Updated : 2014.12.15 11:57