Korean Economy

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North Korean satellite wasn’t advanced enough to conduct reconnaissance from space, Seoul

Financial Express 05 Jul 2023

North Korea had tried to launch its first spy satellite in late May, but the long-range rocket carrying it plunged into the waters off the Korean Peninsula’s west coast soon after liftoff ... “Numerous” and “key” parts of the rocket and the satellite were recovered and the South Korean and U.S.

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Korea cuts 2023 economic growth outlook to 1.4% amid uncertainties

Korea Times 04 Jul 2023

However, the economy will gradually recover over the second half, and begin a full-fledged recovery next year," the Ministry of Economy and Finance said in its outlook report. In detail, the government expected the Korean economy to grow 1.8 percent on-year in the second half, eventually reaching 2.4 percent growth in 2024.

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Gov't to focus on revitalizing economy in 2nd half

Korea Times 04 Jul 2023

He said exports are "a cornerstone of the Korean economy which has a great external dependence and are also at the core of national job growth," adding, "The relevant ministries should take measures to bolster sales, projects and investments overseas.".

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Hopes grow for Korea's new construction boom in Middle East

Korea Times 04 Jul 2023

The achievement at that time led to the construction boom for Korean builders in the Middle East, which enabled the companies to make huge profits from the oil-rich region ... "Saudi Arabia also seeks cooperation with Korean firms to build ammonia plants for the hydrogen economy," the minister told reporters.

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Korea to overhaul immigration, visa policies to foster future growth

Korea Times 04 Jul 2023

Facing the challenge of a slowing economy with an aging and shrinking population, the Korean government will adopt a more open immigration policy as a means to strengthen foundations for future growth, the finance ministry said Tuesday ... the national economy's growth potential.

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South Korea cuts growth forecast amid uncertainty

Taipei Times 04 Jul 2023

Government analysts predict that the economy would rebound next year when demand for chips are expected to improve ... The South Korean Ministry of Economy and Finance now sees GDP expanding 1.4 percent this year, down from a 1.6 percent forecast in December last year, its mid-year outlook released yesterday showed.

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S KOREA CUTS 2023 ECONOMIC GROWTH OUTLOOK TO 1.4 PCT AMID UNCERTAINTIES

Malaysian National News Agency 04 Jul 2023

However, the economy will gradually recover over the second half, and begin a full-fledged recovery next year," the Ministry of Economy and Finance said in its outlook report. In detail, the government expected the South Korean economy to grow 1.8 per cent on-year in the second half, eventually reaching 2.4 per cent growth in 2024.

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Yoon says second half of 2023 will be inflection point for economy

Korea Times 04 Jul 2023

"I believe the second half of this year will be an important inflection point showing the potential of the Korean economy, which has grown a step further while overcoming crises," he said during the meeting at the former presidential compound of Cheong Wa Dae.

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Korea shows signs of recovery in major economic indicators: Choo

Korea Times 03 Jul 2023

"While downward risks on the Korean economy have been easing recently, there are still uncertainties, including the possible delay in the recovery of the Chinese economy and the chip industry," Finance Minister Choo Kyung-ho said during a Cabinet meeting.

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USD/KRW retreats after South Korea trade surplus and weak PMI

Invezz 03 Jul 2023

The USD to South Korean exchange rate dropped to a low of 1,306 on Monday, much lower than the June high of 1,324.14 ... The South Korean economy is going through major challenges as international demand fizzles ... South Korean exports, which play an important role in the economy, have dropped in the past nine straight months.

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Moon apparently refutes Yoon's use of expression 'anti-state forces'

Korea Times 03 Jul 2023

Moon made the remarks in a Facebook post, saying, "I think about how different the inter-Korean relations, security situation and even the economy would have been if successive governments had been consistent in their policies for peace.".

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Cryptocurrencies and the Global Financial Market (IV)

B & FT Online 03 Jul 2023

So far, the following selected economies across the globe have considered and adopted regulations to forestall any financial tsunami by the digital financial exchanges on individual and corporate investors ... In the following section, we continue with the brief explanation on regulatory measures adapted by each of the above-listed economies.

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Cryptocurrencies and the Global Financial Market (IV) by Ebenezer M. Ashley (PhD.): Regulatory Measures on ...

B & FT Online 03 Jul 2023

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[INTERVIEW] Expert highlights importance of traditional family unit as solution to population crisis

Korea Times 03 Jul 2023

Professor Lee Myung-sun of Ewha Womans University, who chaired the K-Family Festival organizing committee, speaks during an interview with The Korea Times at Seoul City Hall, Thursday ... By Lee Hae-rin. Korea emerged from the ashes of the 1950-53 Korean War to become the fourth-largest economy in Asia and 12th-largest in the world ... .

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[ROUNDTABLE] Diplomats from Central Asia hope for further cooperation with Korea

Korea Times 30 Jun 2023

Economic cooperation is a priority of Uzbek-Korean relations ... We thank the Korean side for supporting the integration processes currently taking place in Central Asia ... In this regard, we welcome the participation of Korean partners in the development of the Turkmen economy and intend to continue expanding our cooperation.