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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...
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...
With the liberal opposition clinching a landslide victory in Wednesday's general election, expectations over President Yoon Suk Yeol’s economic policies that favor stock market investment falter. Yoon’s People Power Party faced a major defeat in the parliamentary elections, as the main oppositio...
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...
By Jo He-rim ( herim@heraldcorp.com ) The Korea Herald
South Korean shipbuilder HD Hyundai Heavy Industries said Thursday it has partnered with US industrial behemoth GE Aerospace for cooperation in winning overseas navy projects. HD Hyundai signed a memorandum of understanding with GE at Sea Air Space 2024, a global maritime exposition held in Washin...
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 ...
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 ...
The race to receive the license to become South Korea’s fourth internet-only bank is growing fiercer, with four bidders announcing their will to contend. There are currently three online lenders in Korea: KBank, Kakao Bank and Toss Bank. But four new contenders -- Soso Bank, Korea Credit Data Ban...
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...
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...
South Korean regulators’ push for banks to make up for investors’ losses incurred from equity-linked securities tied to a Hong Kong index has left both Korean and foreign banks baffled. Korea's major lenders accepted compensation guidelines suggested by financial watchdog the Financial Superviso...
KGC eyes broader customer base with Lim Young-woong
Korean robot startup aims to transform human walking
Coway launches Berex massage bed with enhanced usability
Hyundai Mobis breaks ground for W170b Spain plant
HD Hyundai teams up with Norway's Philly Shipyard for US footing
Hanwha Life taps into global banking through Indonesian investment