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The Wednesday session was also graced by the presence of Fazliddin Arziev, counselor of the Embassy of Uzbekistan in Seoul, who attended the forum on behalf of Ambassador Vitaly Vasilievich Fen. During the event Arziev expressed optimism for greater cooperation between the two countries, citing Uz...
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 with...
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 ...
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 ...
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 credi...
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, the ...
The heightened geopolitical tensions from Iran's attack on Israel have cast gloom on Korea as well, bringing down local shares and leading to currency depreciation. While the Korean won has been losing its value against the US greenback in recent days with weakened anticipation on the US Federal R...
Korea, home of the world’s third-largest automaker, Hyundai Motor Group, finds itself at a critical juncture as the rise of Chinese-made electric vehicles in the domestic market poses a complex challenge: how to protect national interests while embracing the inevitable shift toward electrification...
While many law firms in Korea lack familiarity with India's legal landscape, Oh asserted that Jipyong excels in this regard, owing to its extensive experience in Myanmar, a former province of British India that is also partially based in English common law. "The legal framework in Myanmar closely ...
The South Korean government on Sunday announced heightened vigilance against potential domestic repercussions in light of the escalated tensions in the Middle East following Iran's attack on Israel. President Yoon Suk Yeol convened an emergency meeting with cabinet members and relevant government ...
The South Korean government faced another compensation claim for its alleged role in the 2015 merger of two Samsung companies. The Hague-based Permanent Court of Arbitration ruled Thursday that the Korean government should compensate some $32.03 million to Mason Capital, a New York-based hedge fun...
Nearing the “last mile” of its fight against rising prices, the Bank of Korea held the base rate at 3.5 percent for the 10th consecutive time Friday. The monetary policy board of the central bank decided to maintain the rate through a unanimous vote, keeping the rate steady for more than a year ...
Korean automobile exports reached a record $17.5 billion in the first quarter of this year, marking a 2.7 percent increase from the same period last year, according to the Ministry of Trade, Industry and Energy on Thursday. Automobile exports surged to $6.2 billion in March alone, following a slig...
South Korea's central bank froze its key rate for the 10th straight session Friday, saying that its current restrictive stance will be maintained for a sufficient period of time amid woes over high inflation and household debt. In a widely expected decision, the monetary policy board of the Bank o...
While recent figures indicate the Korean economy is on the path of recovery, weak household consumption and a fragile property market could remain challenges for the country, an economist from the Asian Development Bank projected. In its Asian Development Outlook report released Thursday, the inte...
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