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The Korea Herald

Economy

April 11, 2024
Amid deeping apple crisis, S. Korea eyes long-term measures

This year’s spikes in apple prices have prompted South Korean officials to explore long-term strategies to stabilize fruit harvests. While the latest price trends are influenced by various factors, including short-term weather events, officials are concerned about a troubling underlying trend: De...
April 11, 2024
Korea's national debt hits record high in 2023

South Korea's national debt surged by nearly 60 trillion won ($44 billion) last year, reaching a record high. According to a report on the 2023 national settlement of accounts approved at a Cabinet meeting, the country's national debt stood at 1,126.7 trillion won, up by 59.4 trillion won from 202...
April 11, 2024
Korea aligned with US export curbs on chips to China: minister

By Jo He-rim ( herim@heraldcorp.com ) The Korea Herald
April 11, 2024
ADB maintains S. Korea's 2024 growth forecast at 2.2%

The Asian Development Bank (ADB) kept its outlook for South Korea's economic growth this year unchanged at 2.2 percent and the forecast for the country's inflation at 2.5 percent, Seoul's finance ministry said Thursday. The ADB's outlook for 2024 is on par with that of the South Korean government ...
April 11, 2024
Politicians push for telemedicine amid doctors’ walkout

Discussions on expanding telemedicine services are speeding up here as no immediate breakthrough can be seen in the prolonged mass walkout by junior doctors in protest against the government’s push to raise the admission caps of medical schools. Ahead of Wednesday’s General Election, candidates ...
April 11, 2024
Chinese e-commerce platforms catching up with Korean rivals

Chinese e-commerce platforms, including the big three AliExpress, Temu and Shein, saw their Korean sales more than double over the past six months, while their Korean rivals suffered lukewarm sales performance during the same period, according to payment transaction data released Wednesday. Accord...
April 09, 2024
Aging cities more vulnerable to climate change: study

Cities with large populations of older residents show greater vulnerability to climate change due to inadequate investment in green infrastructure and spaces such as parks and forests, according to a study conducted by the Korea Advanced Institute of Science and Technology on Tuesday. A research t...
April 08, 2024
7 in 10 Korean retailers feel threat from Chinese e-commerce rush

Seven out of 10 retailers in Korea say they feel threatened by the rapid expansion of Chinese e-commerce platforms, especially the big three -- AliExpress, Temu and Shein -- an industry-wide survey found Monday. Of the 500 retailers surveyed by the Korean Chamber of Commerce and Industry, the nati...
April 08, 2024
S. Korean regulator launches inspection into China's Temu over alleged unfair biz practices

South Korea's antitrust regulator has launched an inspection into China's Temu shopping app on suspicions of the retail platform's false advertising and other unfair business practices, officials said Monday. The Fair Trade Commission (FTC) recently sent documents to Temu for a probe to see if it ...
April 08, 2024
[Hello India] 'The Indian elephant has begun its stampede': Balancehero CEO

The next phase for True Balance may involve micro-insurance, reflecting user demand from True Balance users. Looking ahead, Lee envisions entering the deposit business, leveraging credit data from its ACS system. "Right now, with our monthly new loans reaching 50 billion won, we have borrowed 340 ...
April 04, 2024
Koglo.com CEO talks on entrepreneurship in uncertain times

Meanwhile, New Zealand's Ambassador to Korea Dawn Bennet also joined Wednesday's forum and shared her vision for the two countries’ future business cooperation and new opportunities for innovation. “We concluded the Korea-New Zealand free trade agreement in 2015, and since then, our relationship...
April 03, 2024
S. Korea's beauty exports hit all-time high of $2.3b in Q1

South Korea’s exports of cosmetics jumped around 22 percent on-year to hit an all-time high in the first quarter of this year, amid the growing international popularity of Korean culture, government data showed Tuesday. According to the Korea Customs Service, the country’s exports of cosmetic pr...
April 03, 2024
Foreign reserves rebound, riding out strong US dollar

South Korea's foreign exchange reserves rebounded in March after a two-month decline, backed by deposits and investment gains offsetting the strong US dollar, the central bank said Wednesday. The country's foreign reserves had come to $419.25 billion as of late March, up $3.51 billion from the pre...
April 02, 2024
FSC ramps up benefits to bolster corporate value-up drive

Financial regulators are ramping up efforts to encourage local companies to participate in the government's initiative to bolster South Korea's market valuation. The Financial Services Commission announced a series of new incentives on Tuesday for companies improving their governance structures, i...
April 01, 2024
Most Chinese e-commerce platform users in S. Korea dissatisfied with service: poll

Most South Korean users of recently burgeoning Chinese e-commerce platforms were dissatisfied with various aspects of their services despite their competitive pricing, a poll showed Monday. In the poll conducted by the Korea Chamber of Commerce and Industry recently on 800 consumers with experienc...

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Herald Corporation |CEO : Choi Jin-Young |Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea |Title : The Investor |Date of registration : 2016.06.21 |Date of issue : 2016.06.21
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