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The Korea Herald

Economy

November 20, 2024
IMF lowers Korea's 2025 growth outlook to 2%

The International Monetary Fund on Wednesday lowered its economic growth forecast for South Korea to 2 percent next year, down from 2.2 percent projected earlier in October, citing high uncertainties and weak domestic demand. The announcement came after a team of IMF officials led by Korea mission...
November 17, 2024
[KH Explains] Why Korean bank shares got bump from Trump's 2nd term

Shares of local banks are putting up a fight in the bearish Korean stock market, as investors are pricing in expectations that the lenders could excel in the second Donald Trump administration, under softened regulation and higher interest rates. The KRX Banks index, representing shares of top fin...
November 14, 2024
Korea to take action if currency falls more

South Korea’s finance minister warned against excessively volatile currency moves on Thursday, vowing to take swift action if needed amid the rapid depreciation of the Korean currency against the US dollar. Financial authorities will bolster efforts to stabilize the financial and foreign exchange...
November 07, 2024
Korea on alert over reshaped global economy during Trump's 2nd term

The export-reliant Korean economy is bracing for Donald Trump’s return to the White House, with the energy and high-tech sectors here expected to bear the brunt of the US policy shift centered on his trade protectionism and the rollback of Joe Biden's green energy push. Korea’s Finance Minister ...
November 05, 2024
Bahrain ready for bigger Korean presence

MANAMA, Bahrain – Strengthening its partnership with Bahrain would open a door of opportunities in the Middle East for South Korea, an investment forum held by the Gulf island nation's economic board suggested. Bahrain hosted the second edition of Gateway Gulf on Sunday and Monday. This year’s G...
November 05, 2024
[Herald Interview] FTA to bring Korea-Gulf ties to new level: Bahraini industry minister

MANAMA, Bahrain -- South Korea’s cooperation with the Gulf region, including Bahrain, is set to strengthen as the free trade agreement involving the two countries will take effect soon, according to a top Bahraini governmental official. "Last year, we had a trip with a big delegation to Korea. We...
November 04, 2024
After opposition U-turn, Korea to repeal plan for financial capital gains tax

Korea’s main opposition party reversed its plan to introduce capital gains taxes on financial investment income on Monday, putting an end to a four-year stalemate with the ruling party as the underperforming domestic stock market struggles to make a breakthrough. “We decided to agree to the abol...
October 29, 2024
Korea downplays impact of US investment ban on Chinese tech

Korean authorities expect the United States’ decision to ban outbound investments in artificial intelligence and other technology sectors in China to have a limited impact on South Korea's economy. On Monday, the Biden administration said it finalized rules that will bar US funds from flowing int...
October 29, 2024
Asia-Pacific tax chiefs gather in Seoul to bolster cooperation

The Asia-Pacific region’s largest annual tax administration meeting launched Tuesday in Seoul, bringing together top tax officials from 18 countries to advance tax administration and bolster international cooperation. The 53rd annual meeting of the Study Group on Asia-Pacific Tax Administration a...
October 28, 2024
Subsidies for kimchi-making? Napa cabbage's importance in Korea

South Korea has unveiled a series of measures to stabilize the market for napa cabbage and daikon radishes, aiming to support preparations for "gimjang" -- the traditional process of preparing kimchi for winter -- as demand for these key ingredients is expected to rise during the peak gimjang seaso...
October 25, 2024
KB posts record Q3 earnings, vows higher shareholder returns

KB Financial Group reported record third-quarter profits driven by increased interest revenues from expanded loans while announcing a plan to enhance shareholder returns linked to its financial stability. The group posted a net profit of 1.61 trillion won ($1.17 billion), a 17.5 percent on-year in...
October 25, 2024
South Korea to lead Japan, Taiwan in GDP per capita: IMF

South Korea’s gross domestic product per capita is projected to continue its lead over Japan and Taiwan in 2024, according to International Monetary Fund data. In its “World Economic Outlook,” released on Monday, the IMF forecasted Korea's GDP per capita to rise this year to $36,132, which woul...
October 24, 2024
Korea's economic growth slows in Q3 on weaker exports

South Korea’s economy has grown by 0.1 percent in the third quarter from the prior quarter, undershooting forecasts by big margins due to unexpectedly slowed exports, according to preliminary data from the Bank of Korea on Thursday. The country's real gross domestic product -- a key measure of ec...
October 24, 2024
Korea Zinc shares soar 30% amid prolonged ownership fight

Shares of Korea Zinc, the world’s largest zinc smelter, jumped almost 30 percent on Thursday amid speculation that the prolonged power struggle between the current management and the MBK Partners-Young Poong coalition could push the share price up further in the coming weeks. As of 3 p.m., the sh...
October 22, 2024
KEF chief meets with EU ambassadors to beef up economic ties

Member companies of the Korea Enterprises Federation met with ambassadors of the European Union on Tuesday to elevate economic cooperation and discuss strategies for embracing the shift in the labor market induced by industrial restructuring. Top officials from 23 EU member nations’ embassies in ...

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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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