<![CDATA[News - English [KBS WORLD Radio] | Economy]]> 15 en <![CDATA[KOSPI Closes Tuesday Up 1.16%]]> The benchmark Korea Composite Stock Price Index(KOSPI) gained 24-point-02 points, or one-point-16 percent, on Tuesday. It ended the day at two-thousand-88-point-86.  The tech-heavy KOSDAQ also rose, gaining six-point-73 points, or one-point-04 percent, to close at 655-point-91. On the foreign ...

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KBS WORLD Radio Tue, 22 Oct 2019 15:48:49 +0900 Economy
<![CDATA[Trade Minister: S. Korea's Exports to Hit Bottom this Month]]> South Korea's trade minister projects that the country's exports will bottom out this month and rebound in the first quarter of next year. Trade, Industry and Energy Minister Sung Yun-mo presented the projections on Monday in a meeting with reporters in Sejong City. The minister said he expects that ...

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KBS WORLD Radio Tue, 22 Oct 2019 10:35:14 +0900 Economy
<![CDATA[S. Korea to Install 310 Hydrogen Charging Stations by 2022]]> The government said on Tuesday that it will install 310 charging stations for hydrogen vehicles across the nation by 2022. The trade and environment ministries, along with others, unveiled a set of plans to establish infrastructure for the hydrogen industry. Under the plan, the country will install 250 ...

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KBS WORLD Radio Tue, 22 Oct 2019 10:26:22 +0900 Economy
<![CDATA[S. Korea's Producer Prices Fall for Third Straight Month in Sep.]]> South Korea's producer prices fell for the third consecutive month in September. According to data by the Bank of Korea on Tuesday, the producer price index for all commodities came to 103-point-84 in the month, down point-seven percent from a year earlier.  The index marked a one-tenth percent ...

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KBS WORLD Radio Tue, 22 Oct 2019 08:38:17 +0900 Economy
<![CDATA[KOSPI Closes Monday Up 0.20%]]> The benchmark Korea Composite Stock Price Index(KOSPI) gained four-point-15 points, or point-20 percent, on Monday. It ended the day at two-thousand-64-point-84.  The tech-heavy KOSDAQ also rose, gaining two-point-49 points, or point-39 percent, to close at 649-point-18. On the foreign exchange, the local ...

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KBS WORLD Radio Mon, 21 Oct 2019 16:05:21 +0900 Economy
<![CDATA[Exports Continue to Drop as Economy Loses Growth Momentum]]> Anchor: South Korea's export-driven economy is struggling as the U.S.-China trade war plays out. Outbound shipments continued to drop in the first 20 days of October and both the finance minister and the Bank of Korea chief say that economic growth this year will be lower than previous outlooks.  Celina ...

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KBS WORLD Radio Mon, 21 Oct 2019 13:03:59 +0900 Economy
<![CDATA[BOK Chief: US-China Trade War Lowers S. Korea's Growth by 0.4 Percentage Point]]> The head of South Korea's central bank said the U.S.-China trade war is estimated to have lowered South Korea's growth by as much as nearly half a percentage point this year.  Bank of Korea(BOK) Governor Lee Ju-yeol presented the assessment on Friday during a meeting with reporters in Washington. Lee said ...

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KBS WORLD Radio Mon, 21 Oct 2019 10:39:02 +0900 Economy
<![CDATA[Finance Minister: S. Korean Economy to Grow 2-2.1% This Year]]> Finance Minister Hong Nam-ki said that the South Korean economy is expected to grow between two and two-point-one percent this year, down point-four percentage points from the government's forecasts. The minister made the remarks on Friday to reporters on the sidelines of a Group of 20 meeting of ...

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KBS WORLD Radio Sun, 20 Oct 2019 14:34:45 +0900 Economy
<![CDATA[S. Korea's Eco-Friendly Auto Exports Jump 42% in 2019]]> South Korea's exports of eco-friendly cars have soared by more than 40 percent this year on the back of the popularity of subcompact SUVs. According to the data by the Korea Automobile Manufacturers Association on Sunday, local automakers shipped about 181-thousand eco-friendly autos, such as ...

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KBS WORLD Radio Sun, 20 Oct 2019 14:31:02 +0900 Economy
<![CDATA[S. Korea's Employment Rate 10th in OECD in Q2]]> South Korea's employment rate placed tenth among the 35 member states of the Organization for Economic Cooperation and Development (OECD) in the second quarter. According to Statistics Korea and the OECD on Sunday, the country's employment rate of people aged over 15 came to 60-point-eight ...

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KBS WORLD Radio Sun, 20 Oct 2019 12:51:56 +0900 Economy
<![CDATA[6 Companies to Recall over 20,000 Vehicles over Faulty Parts]]> The government said on Sunday that six companies will recall more than 20-thousand vehicles due to faulty components. The Ministry of Land, Infrastructure and Transport said that GM Korea, the GM Asia-Pacific regional headquarters, BMW, Nissan Korea, Mercedes-Benz and Daimler Trucks Korea are recalling ...

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KBS WORLD Radio Sun, 20 Oct 2019 12:06:16 +0900 Economy
<![CDATA[S. Korean, Australian Finance Ministers Support Central Banks Currency Swap ]]> The finance ministers of South Korea and Australia appear to have agreed on the need to support the continuation of a bilateral currency swap deal expiring early next year.  Finance Minister Hong Nam-ki met with his Australian counterpart Josh Frydenberg for talks in Washington on Friday during his trip ...

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KBS WORLD Radio Sat, 19 Oct 2019 14:29:40 +0900 Economy
<![CDATA[Exports Continue On-Year Decline for 10 Straight Months]]> South Korean exports fell eleven-point-seven percent from a year ago in September, continuing on-year decline for ten consecutive months. In its monthly economic assessment report released Friday, the Finance Ministry again confirmed the trend of slowing exports and weak investments.  The government ...

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KBS WORLD Radio Fri, 18 Oct 2019 14:17:45 +0900 Economy
<![CDATA[Gov't Reviewing Issue of S. Korea's Developing Nation Status]]> South Korean government agencies are discussing whether or not to give up the country's developing nation status under the World Trade Organization(WTO). Minister of Trade, Industry and Energy Sung Yun-mo spoke about the situation Friday during a parliamentary inspection of his ministry. While ...

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KBS WORLD Radio Fri, 18 Oct 2019 14:07:03 +0900 Economy
<![CDATA[S. Korea, US Sign First MOU on Infrastructure]]> South Korea and the U.S. have signed their first bilateral memorandum of understanding(MOU) on cooperation in infrastructure. Finance Minister Hong Nam-ki on Friday announced via his social network account that the two sides had signed the MOU on Thursday, saying the deal reaffirmed the solid South ...

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KBS WORLD Radio Fri, 18 Oct 2019 11:28:20 +0900 Economy
<![CDATA[Finance Minister: Japan's Export Controls Could Have Negative Impact on Global Economy]]> Finance Minister Hong Nam-ki expressed concern that Japan's export restrictions against South Korea could impair the global value chain and have a negative impact on the world economy. The minister voiced the concerns on Thursday during talks with U.S. Treasury Secretary Steven Mnuchin on the sidelines of ...

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KBS WORLD Radio Fri, 18 Oct 2019 08:42:01 +0900 Economy
<![CDATA[KOSPI Closes Thursday Down 0.23%]]> The benchmark Korea Composite Stock Price Index(KOSPI) lost four-point-89 points, or point-23 percent, on Thursday. It ended the day at two-thousand-77-point-94. The tech-heavy KOSDAQ also fell, losing two-point-67 points, or point-41 percent, to close at 649-point-29 points. On the foreign exchange, ...

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KBS WORLD Radio Thu, 17 Oct 2019 15:45:13 +0900 Economy
<![CDATA[Finance Minister Promotes Resiliency of S. Korean Economy]]> Anchor: South Korea's Finance Minister Hong Nam-ki has positively assessed the country’s economic resilience. Speaking to investors in New York, he explained that external soundness, solid fiscal health and balanced industrial structures demonstrate the resiliency of the economy despite some recent ...

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KBS WORLD Radio Thu, 17 Oct 2019 13:26:40 +0900 Economy
<![CDATA[Finance Minister Says S. Korean Economy Has Strong Resilience]]> Finance Minister Hong Nam-ki told investors in New York that the country's economy has strong resilience. Hong delivered the evaluation at an investor relations(IR) session on Thursday, citing external soundness, solid fiscal health and balanced industrial structures as the foundation for South Korea's ...

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KBS WORLD Radio Thu, 17 Oct 2019 10:51:47 +0900 Economy
<![CDATA[KOSPI Closes Wednesday Up 0.71%]]> The benchmark Korea Composite Stock Price Index(KOSPI) gained 14-point-66 points, or point-71 percent, on Wednesday. It ended the day at two-thousand-82-point-83. The tech-heavy KOSDAQ also rose, gaining five-point-16 points, or point-80 percent, to close at 651-point-96 points. On the foreign ...

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KBS WORLD Radio Wed, 16 Oct 2019 15:46:51 +0900 Economy
<![CDATA[BOK Slashes Interest Rate Back to Lowest 1.25%]]> Anchor: The Bank of Korea cut its benchmark interest rate by 25 basis points to one-point-25 percent on Wednesday in a widely expected move. The rate slash, the second this year and matching a historic low, is designed to bolster the sluggish economy. Kim Bum-soo has more.  Report:  [Sound bite: Bank of ...

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KBS WORLD Radio Wed, 16 Oct 2019 14:45:18 +0900 Economy
<![CDATA[IMF Lowers S. Korea's Economic Growth Outlook to 2%]]> Anchor: The International Monetary Fund(IMF) has again slashed its growth forecast for South Korea's economy this year to two percent. It also downgraded its growth outlook for the global economy to three percent, citing a "synchronized slowdown." Our Bae Joo-yon has more.  Report: In its World Economic ...

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KBS WORLD Radio Wed, 16 Oct 2019 14:09:02 +0900 Economy
<![CDATA[S. Korea's Export, Import Prices Drop in September]]> South Korea's export and import prices both dropped from a month earlier in September largely due to the strength of the local currency against the U.S. dollar. According to data by the Bank of Korea(BOK) on Wednesday, the export price index came to 101-point-03 last month, down point-eight percent from a ...

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KBS WORLD Radio Wed, 16 Oct 2019 09:33:26 +0900 Economy
<![CDATA[S. Korea Adds 348,000 Jobs in September]]> South Korea added over 300-thousand jobs for the second straight month in September. According to Statistics Korea on Wednesday, the number of employed people reached 27-point-four million last month, up 348-thousand from a year earlier. The economy added 452-thousand jobs in August, the largest figure ...

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KBS WORLD Radio Wed, 16 Oct 2019 09:26:13 +0900 Economy
<![CDATA[IMF Cuts S. Korea's Growth Forecast to 2% for 2019]]> The International Monetary Fund(IMF) on Tuesday slashed its growth forecast for South Korea's economy this year to two percent from its previous outlook of two-point-six percent, saying that the global economy is in a "synchronized slowdown." In its World Economic Outlook report, the IMF also cut South ...

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KBS WORLD Radio Wed, 16 Oct 2019 08:38:03 +0900 Economy
<![CDATA[Moon Unveils Vision for Future Cars at Hyundai Motor Center ]]> President Moon Jae-in attended an event where the country's vision for the future automotive industry was declared. The president vowed to focus policy capabilities on fostering hydrogen-fueled and autonomous vehicles at the Tuesday event held at Hyundai Motor's Namyang R&D Center in Hwaseong, ...

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KBS WORLD Radio Tue, 15 Oct 2019 16:47:21 +0900 Economy
<![CDATA[KOSPI Inches up Tuesday 0.04%]]> The benchmark Korea Composite Stock Price Index(KOSPI) inched up on Tuesday, gaining point-77 point, or point-04 percent. It closed the day at two-thousand-68-point-17.  The tech-heavy KOSDAQ also rose, gaining five-point-34 points, or point-83 percent, to close at 646-point-80. On the foreign exchange, ...

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KBS WORLD Radio Tue, 15 Oct 2019 16:00:04 +0900 Economy
<![CDATA[LG Display Fully Replaces Japanese HF with Locally-produced HF]]> LG Display says it has fully replaced liquid hydrogen fluoride(HF) used in its display and panel factories with domestically-produced high-purity HF.   A company official said Monday that the application came recently for all HF used in etching and processing efforts. LG Display had previously used ...

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KBS WORLD Radio Tue, 15 Oct 2019 12:44:35 +0900 Economy
<![CDATA[DP Lawmaker: S. Korean Remittances to Tax Havens Reach 848 Tln Won]]> A lawmaker says about 848 trillion won, or 760 billion U.S. dollars, was remitted from South Korea to overseas tax havens over the past five years. Democratic Party Rep. Shim Ki-joon made the revelation Tuesday citing Bank of Korea data on individuals and entities from between 2014 and 2018. Conglomerates ...

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KBS WORLD Radio Tue, 15 Oct 2019 10:16:09 +0900 Economy
<![CDATA[Chinese Premier Visits Samsung Chip Plant in Xian]]> Chinese Premier Li Keqiang visited Samsung Electronics' semiconductor facility in northwest China, signaling possible closer cooperation between South Korea and China.  According to the Chinese government website on Tuesday, Li visited Samsung's chip production plant in Xian, Shaanxi Province on ...

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KBS WORLD Radio Tue, 15 Oct 2019 09:53:44 +0900 Economy