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South Korea's food inflation spiked to 6.95 percent in February, the third-highest among member countries of the Organization for Economic Cooperation and Development. The OECD statistics for February announced Sunday reveal that Korea ranks third among 38 OECD member countries in terms of food and...
HD Korea Shipbuilding & Offshore Engineering said Sunday it has partnered with Korea East-West Power and the Korea SMEs and Startups Agency to launch a joint initiative to reduce greenhouse gas emissions in the shipbuilding industry. The collaboration, inked at the HD Hyundai Global R&D Cen...
The South Korean market on Friday faced heightened volatility in response to Israel's military actions against Iran, with the benchmark Korea Composite Stock Price Index plunging to its lowest level in 11 weeks. The dip coincided with a weakening of the local currency. The Kospi concluded the day a...
S-Oil, one of major refineries in South Korea, made a donation of 560 million won ($405,000) on Friday to the Korea National Council On Social Welfare to support its ongoing program assisting firefighters and their families, the company said. The KNCSW, a charity organization under the Ministry of ...
South Korean Finance Minister Choi Sang-mok unveiled the country's plan to bolster green investment in the private sector by establishing a venture capital fund worth 23 trillion won ($16.6 billion), the ministry said Friday. Emphasizing the importance of leveraging private capital for climate fina...
The top finance policymakers of South Korea, the US and Japan shared their concern on the recent devaluation of the Korean won and the Japanese yen during their first trilateral talks Wednesday. Korea's Finance Minister Choi Sang-mok, US Treasury Secretary Janet Yellen and Japan's Finance Minister ...
Small business owners are now required to wear a second hat as an online content creator to increase engagement with young consumers, the head of Seoul Business Agency, a business support institution run by the Seoul Metropolitan Government, said at the Global Biz Forum held in Seoul, Wednesday. Th...
South Korea and Japan’s finance ministers voiced concerns over the recent depreciation of their currencies against the US dollar, showing their intention to step into the market to support the won and yen, according to Korea's Finance Ministry on Wednesday. Finance Minister Choi Sang-mok met ...
In March 2023, Apple Pay made a grand entrance into the South Korean market, amassing 1 million users on its debut day alone and doubling that figure within three weeks. But a year later, the initial fervor surrounding the mobile payment service of the iPhone maker appears to have dwindled consider...
South Korea's imports of Japanese beer products more than doubled on-year in the first quarter this year, despite a 20 percent drop in the country's overall beer imports during the same period, government data showed Wednesday. According to the Korea Customs Service, the combined value of Korea's b...
HD Hyundai Heavy Industries has bagged an order worth 640.6 billion won ($462 million) to build four warships for Peru’s state-owned shipyard SIMA, marking Korea’s largest-ever defense export deal to Latin America. According to HD Hyundai on Wednesday, Peru's President Dina Boluarte and...
The Korean won weakened to 1,400 won against the US dollar during trading hours Tuesday, marking a new 17-month low as the Korean economy faces headwinds from the escalating volatility in the Middle East. The local currency against the greenback closed at 1,394.5 won, losing its value by 10.5 won f...
Last year, South Korea's card payments surged past 900 trillion won ($644.6 billion) for the first time, amid heightened inflation and escalating consumer prices. Data compiled by the Financial Supervisory Service reveals that the combined card payment performance of the nation's eight major credit...
Finance leaders from South Korea, the United States and Japan were set to hold their first-ever trilateral meeting in Washington on Wednesday, to step up economic cooperation amid heightened geopolitical risks in the Middle East. Finance Minister Choi Sang-mok departed for the US on Tuesday to atte...
South Korea witnessed its highest-ever import figures for pineapples and mangoes in March, largely driven by the government’s recent efforts to address the soaring prices of homegrown apples by diversifying demand toward alternative options. According to the Korea Customs Service on Tuesday, ...
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