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S. Korea’s global competitiveness ranking climbs 5 spots to 23rdEconomyJun 16, 2020South Korea’s global competitiveness ranking climbed five spots this year, buoyed by improvement in government, business and infrastructure efficiencies amid the coronavirus pandemic, according to an... -
S. Korea, Cambodia to launch free trade talks in JulyEconomyJun 15, 2020South Korea is seeking to launch negotiations for a bilateral free trade agreement with Cambodia next month, hoping to increase its economic influence in Southeast Asia, according to top officials Mo... -
BOK launches legal team to research digital currencyEconomyJun 15, 2020The Bank of Korea on Monday officially launched a legal team to help smooth the launch of a central bank digital currency and cryptocurrencies rolled out by central banks. The formation of the six-m... -
Commercial banks slash savings, checking account yields to near 0%MoneyJun 14, 2020Korean commercial banks had cut their yields on savings and checking accounts to near zero as of Sunday, in line with the central bank’s move to slash its policy rate to a record low of 0.5 percent l... -
US energy, auto, services sectors face prolonged struggle in pandemic era: BOKEconomyJun 14, 2020US-based firms in several sectors are likely to face a prolonged struggle due to the pandemic, and are even at the risk of producing more zombie firms, a report by South Korea’s central bank said Sun... -
![[Economy in Pandemic] US Fed’s rate freeze to affect S. Korea’s monetary policy, stock market](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=649&simg=/content/image/2020/06/11/20200611000666_0.jpg)
[Economy in Pandemic] US Fed’s rate freeze to affect S. Korea’s monetary policy, stock marketEconomyJun 11, 2020The US Federal Reserve on Wednesday decided to keep its interest rates near zero, adding that it doesn’t expect to raise it until at least 2022, as the economy recovers from the repercussions of the ... -
Stock recovery puts Woori privatization plans back on trackMoneyJun 10, 2020Woori Financial Group’s privatization plan, which has been stalled due to the novel coronavirus outbreak here coupled with its plunge in stock price, is likely to move forward again, on account of it... -
![[Economy in Pandemic] S. Korean banks face fierce ASEAN market competition in post-virus era](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=649&simg=/content/image/2020/06/09/20200609000601_0.jpg)
[Economy in Pandemic] S. Korean banks face fierce ASEAN market competition in post-virus eraMoneyJun 9, 2020On the back of South Korean President Moon Jae-in’s New Southern Policy -- aimed at deepening ties with Southeast Asian nations, banks have been increasing their presence in the ASEAN countries. The ... -
S. Korea sees largest current account deficit in 9 years in AprilEconomyJun 4, 2020South Korea in April saw its largest current account deficit in nearly a decade, with the COVID-19 pandemic dealing a blow to the nation’s trade, data from the central bank showed Thursday. The expo... -
Extra budget to push debt-GDP ratio to record-high, rattle fiscal soundnessEconomyJun 3, 2020Despite the rosy picture painted by the government about its third supplementary budget of 35.3 trillion won ($29 billion) announced Wednesday, concerns are rising about the nation’s fiscal soundness... -
S. Korea’s GDP shrinks by 1.3% amid falling per capita incomeEconomyJun 2, 2020South Korea’s real gross domestic product shrank 1.3 percent on-quarter in the first quarter of this year, nearly missing its previous forecast of 1.4 percent, data from the Bank of Korea showed Tues... -
Businesses, households borrow W75tr in loans during COVID-19 periodEconomyMay 31, 2020T he outstanding loans extended to local companies and households here increased by a combined 75.4 trillion won ($73 billion) from February to April, when the economic risks stemming from the novel... -
Idle funds hit record-high amid COVID-19, low rate trendEconomyMay 31, 2020South Korea’s volume of short-term floating capital -- so-called “idle funds” -- surpassed 1,100 trillion won ($901 billion), hitting a record-high amid the prolonged COVID-19 crisis and the continue... -
Blend C launches organic fine fragrance brand BalanzaIndustryMay 29, 2020South Korean perfumery startup Blend C recently launched its fragrance brand Balanza, which boasts a range of fine fragrance body washes and hand creams based on organic formulas. Dubbed the “Memory... -
Buoyed by cash handout, S. Korea’s consumer sentiment improves in MayEconomyMay 26, 2020A month after hitting an all-time low in nearly a decade, South Korea’s consumer sentiment improved in May, with the government’s cash relief handout contributing to the rebound, data from the centra...
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