SEOUL, Jun. 7 (Korea Bizwire) — With a resounding win over Singapore on Thursday night, South Korea have already secured a place in the next phase of the Asian qualification for the 2026 FIFA World Cup. Kim Do-hoon, caretaker manager for the national team, insisted Friday the job is not yet done for his boys. [...]
SEOUL, May 28 (Korea Bizwire) – The population is anticipated to drop in nearly all regions by 2052, except for Gyeonggi Province and the central city of Sejong, due to the chronically low birth rates, a report showed Tuesday. According to the report released by Statistics Korea, the population in 15 out of 17 provinces [...]
SEOUL, May 14 (Korea Bizwire) – While official statistics appear to show South Korea’s minimum wage closing in on the average for developed economies, experts argue this effect is an illusion stemming from how the country calculates average wages compared to international standards. According to a report on minimum wage trends and global comparisons released on [...]
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) – Hundreds of thousands of barrels of Russian naphtha, a crucial raw material for plastics and synthetic fibers, have been stranded at sea for over a week as South Korea, a major buyer, shuns cargoes from the nation following its invasion of Ukraine, according to Bloomberg. The standoff is a consequence [...]
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 [...]
SEOUL, May 7 (Korea Bizwire) – A new report has projected that South Korea’s total population, which stood at just over 51 million last year, could plummet to around 39 million by 2065 due to persistently low birth rates in the country. The 2024 Population Report, published on May 6 by the Korean Peninsula Population Institute [...]
SEOUL, May 2 (Korea Bizwire) — Finance Minister Choi Sang-mok vowed Thursday to stay vigilant on uncertainties regarding interest rate decisions by major economies and the Middle East crisis and to take bold market stabilization steps when necessary. Choi made the remarks during an emergency macroeconomic meeting meant to assess the Federal Reserve’s rate-setting meeting [...]
SEOUL, Apr. 25 (Korea Bizwire) — South Korea’s economy grew at the fastest pace in over two years in the first quarter of the year on the back of a continued recovery in exports and a rise in construction investment, central bank data showed Thursday. The country’s real gross domestic product — a key measure [...]