SEOUL, May 14 (Korea Bizwire) — South Korea’s terms of trade rose for the fifth consecutive month in April as export prices rose while import prices fell, central bank data showed Tuesday. The country’s net terms-of-trade index for goods — a gauge of overall trade terms — improved 5.2 percent last month from a year [...]
SEOUL, May 14 (Korea Bizwire) — South Korea’s import prices rose for a fourth consecutive month in April due to an increase in oil prices and the Korean won’s decline against the U.S. dollar, central bank data showed Tuesday. The import price index rose 3.9 percent last month from a month earlier following a 0.5 [...]
SEOUL, May 14 (Korea Bizwire) – Taihan Electric Wire emerged as the most actively traded stock on South Korea’s equity market on May 13, buoyed by expectations that the artificial intelligence boom will spur investment in power infrastructure to support expanding data centers. Shares of Taihan Electric Wire closed at 18,110 won on the main Kospi [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s trade ministry said Monday it has held the first joint committee meeting with Cambodia after their free trade agreement (FTA) took effect and discussed the progress of the deal and ways to cooperate in the global supply chain. Trade Minister Cheong In-kyo met his Cambodian counterpart, Cham [...]
SEOUL, May 10 (Korea Bizwire) — First Vice Finance Minister Kim Byoung-hwan on Friday pledged to make all-out efforts to tame inflation, particularly in food prices, by announcing a plan to release reserves of agricultural products and utilize the tariff rate quota system. “The government plans to spare no effort to stabilize inflation, a key [...]
SEOUL, May 10 (Korea Bizwire) — Foreign investors scooped up Korean stocks in April for the sixth consecutive month on the back of hopes for a recovery in the chipmaking sector, central bank data showed Friday. Offshore investors bought a net US$1.92 billion worth of local stocks last month, following $3.84 billion worth of purchases [...]
SEOUL, May 10 (Korea Bizwire) — The combined loss by insurers from selling medical indemnity insurance products widened from a year earlier in 2023 despite an increase in sales, data showed Friday. The combined loss of seven life insurers and 10 non-life insurers from their medical indemnity insurance, or reimbursement-backed private medical insurance, came to [...]
SEOUL, May 9 (Korea Bizwire) — South Korea’s fiscal deficit reached an all-time high in the first three months of 2024 due to rising expenditures aimed at buttressing an economic recovery, the finance ministry said Thursday. The managed fiscal balance, a key gauge of fiscal health calculated on a stricter term, posted a deficit of [...]
SEOUL, May 9 (Korea Bizwire) — South Korea logged a current account surplus for the 11th straight month in March on the back of an increased trade surplus, central bank data showed Thursday. The country’s current account surplus reached US$6.93 billion in March, following the surplus of $6.86 billion in February. In the first three [...]
SEOUL, May 8 (Korea Bizwire) — With President Yoon Suk Yeol set to begin his third year in office, South Korea has presented sluggish economic growth amid stubborn inflation unseen in decades, experts said Wednesday, calling for a clear, detailed policy mix to spur growth while maintaining its restrictive fiscal stance and structural reforms. Growth [...]