<![CDATA[News - English [KBS WORLD Radio] | Economy]]> 15 en <![CDATA[Gov’t Says Domestic Demand Shows Signs of Recovery]]> The government has assessed for the second straight month in June that domestic demand is showing signs of recovery.  The finance ministry presented the assessment in its monthly Green Book economic assessment report released on Friday.  The ministry said that amid a slowdown in the growth of prices, ...

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KBS WORLD Radio Fri, 14 Jun 2024 10:59:08 +0900 Economy
<![CDATA[Export, Import Prices Both Fall in May]]> The country’s export and import prices both dropped in May for the first time in five months due to the Korean won’s appreciation against the U.S. dollar and a fall in global oil prices.  According to data released by the Bank of Korea(BOK) on Friday, the country's export price index marked ...

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KBS WORLD Radio Fri, 14 Jun 2024 10:10:48 +0900 Economy
<![CDATA[Coupang Fined 140 Bln. Won for Manipulating Search Algorithms to Boost Sales of PB]]> The Fair Trade Commission(FTC) has fined Coupang 140 billion won for manipulating search engine algorithms for greater exposure of its own brand products to boost sales. That’s around 102 million U.S. dollars.  The country’s antitrust regulator also on Thursday unveiled plans to file a complaint ...

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KBS WORLD Radio Thu, 13 Jun 2024 19:08:33 +0900 Economy
<![CDATA[Gov't to Resume Short Selling from March 31, 2025]]> The government plans to resume short selling from March 31 of next year after a centralized monitoring system to detect illegal short selling is established.  Financial Services Commission(FSC) Vice Chairman Kim So-young unveiled the plan on Thursday during a briefing at the Government Complex ...

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KBS WORLD Radio Thu, 13 Jun 2024 18:09:21 +0900 Economy
<![CDATA[Finance Minister Calls for 'External Safety Net' against Uncertainty over Global Interest Rates]]> Finance Minister Choi Sang-mok on Thursday called on government agencies to focus on alleviating external volatility and stabilizing financial markets and the real economy. The finance minister who's accompanying President Yoon Suk Yeol on his three-nation Central Asian tour this week, made the remarks ...

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KBS WORLD Radio Thu, 13 Jun 2024 17:06:32 +0900 Economy
<![CDATA[KOSPI Ends Thursday Up 0.98%]]> The benchmark Korea Composite Stock Price Index(KOSPI) rose 26-point-72 points, or zero-point-98 percent on Thursday to close at two-thousand-754-point-89. The tech-heavy KOSDAQ climbed zero-point-66 points, or zero-point-08 percent, to close at 871-point-33. On the foreign exchange, the local currency ...

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KBS WORLD Radio Thu, 13 Jun 2024 15:47:10 +0900 Economy
<![CDATA[S. Korea's Managed Fiscal Balance Posts Deficit of over 64 Tln Won for Jan. to April Period ]]> The managed fiscal balance, a key gauge of the nation's fiscal health, posted a deficit of more than 64 trillion won, or around 47 billion U.S. dollars, during the first four months of the year. According to data from the finance ministry on Thursday, total revenue between January and April stood at ...

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KBS WORLD Radio Thu, 13 Jun 2024 14:40:00 +0900 Economy
<![CDATA[KOSPI Ends Wednesday Up 0.84%]]> The benchmark Korea Composite Stock Price Index(KOSPI) rose 22-point-85 points, or zero-point-84 percent on Wednesday to close at two-thousand-728-point-17. The tech-heavy KOSDAQ climbed two-point-31 points, or zero-point-27 percent, to close at 870-point-67. On the foreign exchange, the local currency ...

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KBS WORLD Radio Wed, 12 Jun 2024 15:42:30 +0900 Economy
<![CDATA[Job Growth Falls to 3 Year Low in May]]> The nation added just 80-thouand jobs in May from a year ago, the smallest growth in 39 months. According to Statistics Korea on Wednesday, the number of employed people stood at 28-point-91 million in May, up 80-thousand from the same month last year. That’s the smallest gain in three years and ...

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KBS WORLD Radio Wed, 12 Jun 2024 10:28:02 +0900 Economy
<![CDATA[5 Popular Korean Dishes Continued to See Price Hikes in May]]> New data finds that the average price of one serving of pork belly in restaurants in Seoul topped 20-thousand won for the first time as the price of dining out surged sharply.  According to data released by the Korea Consumer Agency on Tuesday, the average cost of 200 grams of pork belly, which equals ...

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KBS WORLD Radio Tue, 11 Jun 2024 18:19:07 +0900 Economy
<![CDATA[Labor and Management Continue to Wrangle over Next Year's Minimum Wage]]> Labor and management have again clashed in discussions on setting the minimum wage for next year. The Minimum Wage Commission, a tripartite panel composed of nine representatives each from labor, management and the general public, convened its third full session on Tuesday to discuss next year’s ...

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KBS WORLD Radio Tue, 11 Jun 2024 17:32:53 +0900 Economy
<![CDATA[Samsung Electronics and Labor Union to Resume Wage Talks This Week]]> Unionized workers of Samsung Electronics announced they will resume wage talks with the company later this week, two weeks after negotiations broke down. According to industry sources on Tuesday, the representatives of the labor union will meet with company representatives on Thursday to discuss the ...

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KBS WORLD Radio Tue, 11 Jun 2024 16:49:48 +0900 Economy
<![CDATA[FSS to Begin On-Site Inspection of Woori Bank on Wednesday over Embezzlement]]> The Financial Supervisory Service will begin an on-site inspection of  a branch of Woori Bank in Gimhae on Wednesday after the embezzlement of around 10 billion won, or about seven-point-two million U.S. dollars, was reported. The financial regulator announced it would review the situation on Tuesday and ...

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KBS WORLD Radio Tue, 11 Jun 2024 16:20:16 +0900 Economy
<![CDATA[KOSPI Ends Tuesday Up 0.15%]]> The benchmark Korea Composite Stock Price Index(KOSPI) rose four-point-15 points, or zero-point-15 percent, on Tuesday to close at two-thousand-705-point-32. The tech-heavy KOSDAQ climbed three-point-65 points, or zero-point-42 percent, to close at 868-point-36. On the foreign exchange, the local ...

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KBS WORLD Radio Tue, 11 Jun 2024 15:41:28 +0900 Economy
<![CDATA[Exports Fall 4.7% in First 10 Days of June]]> Exports decreased by nearly five percent in the first ten days of June due to a reduced number of working days.  According to preliminary data from the Korea Customs Service on Tuesday, the country’s outbound shipments marked 14-point-58 billion U.S. dollars in the cited period, down four-point-seven ...

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KBS WORLD Radio Tue, 11 Jun 2024 10:05:28 +0900 Economy
<![CDATA[Current Account Turns Red in April after 11 Months in the Black]]> The nation’s current account changed from surplus to deficit in April due to a decrease in the surplus in the goods balance and dividend payments to overseas investors.  According to tentative data released by the Bank of Korea(BOK) on Tuesday, the current account posted a deficit of 290 million U.S. ...

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KBS WORLD Radio Tue, 11 Jun 2024 09:29:17 +0900 Economy
<![CDATA[Rise in Employment Insurance Subscribers Slows amid Reduced Subscription among People in Their 20s, 40s]]> The rise in the number of subscribers to the nation's employment insurance continued to slow as subscribers among people in their 20s and younger and those in their 40s further dropped due to population decline and other factors. According to the labor ministry on Monday, there were 15-point-39 ...

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KBS WORLD Radio Mon, 10 Jun 2024 16:06:05 +0900 Economy
<![CDATA[KOSPI Ends Monday Down 0.79%]]> The benchmark Korea Composite Stock Price Index(KOSPI) slid  21-point-five points, or zero-point-79 percent on Monday to close at two-thousand-701-point-17. The tech-heavy KOSDAQ inched down one-point-47 points, or zero-point-17 percent, to close at 864-point-71. On the foreign exchange, the local ...

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KBS WORLD Radio Mon, 10 Jun 2024 15:47:16 +0900 Economy
<![CDATA[FSS to Establish Monitoring System to Detect Illegal Short Selling by March Next Year]]> The Financial Supervisory Service(FSS) said on Monday that it plans to establish a centralized monitoring system to detect illegal short selling by March of next year.  The financial regulator unveiled the plan during a third round of public debates with individual investors, saying that it plans to ...

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KBS WORLD Radio Mon, 10 Jun 2024 11:19:56 +0900 Economy
<![CDATA[Land Minister in Favor of Abolishing Recovery of Excess Profits from Reconstruction]]> Minister of Land, Infrastructure and Transport Park Sang-woo said he is in favor of abolishing a system of recovering excess profits from reconstruction. Appearing on a KBS program on Sunday, the minister issued the position, saying that the system was created to block reconstruction. Park said that ...

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KBS WORLD Radio Sun, 09 Jun 2024 14:06:32 +0900 Economy
<![CDATA[Combined Market Share of Hyundai, Kia in US EV Market Hits Record 11.2% through May]]> The combined market share of Hyundai Motor and its affiliate Kia Corporation in the United States market for electric vehicles reached a record high in the first five months of the year.  According to the Korea Automobile Manufacturers Association on Sunday, the two automakers sold 48-thousand-838 EVs in ...

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KBS WORLD Radio Sun, 09 Jun 2024 13:51:40 +0900 Economy
<![CDATA[KOSPI Ends Friday Up 1.23%]]> The benchmark Korea Composite Stock Price Index(KOSPI) rose 33-point-17 points, or one-point-23 percent on Friday to close at two-thousand-722-point-67. The tech-heavy KOSDAQ rose 15-point-43 points, or one-point-81 percent, to close at 866-point-18. On the foreign exchange, the local currency ...

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KBS WORLD Radio Fri, 07 Jun 2024 15:46:05 +0900 Economy
<![CDATA[Unionized Workers at Samsung Electronics Take Collective Action amid Wage Negotiation Deadlock]]> Unionized workers at Samsung Electronics collectively used their annual leave to take the day off on Friday, after declaring their intention to take a joint leave of absence for the first time in the company's history. The collective action is led by the tech giant's largest National Samsung ...

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KBS WORLD Radio Fri, 07 Jun 2024 15:09:43 +0900 Economy
<![CDATA[Act-Geo Chief: Australia's Woodside Energy Had Insufficient Time to Conduct In-Depth Analysis]]> The head of the U.S. geoscience research company that analyzed the possibility of oil and gas deposits in the East Sea said an Australian firm that previously withdrew from a geophysical survey with South Korea's state oil company did not have sufficient time for an in-depth analysis. In a written ...

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KBS WORLD Radio Fri, 07 Jun 2024 13:51:04 +0900 Economy
<![CDATA[Act-Geo Chief: Firm Address Is Personal Residence, Team Dispersed Worldwide]]> Vitor Abreu, the owner of U.S. geoscience research company Act-Geo, which analyzed possible oil and gas deposits in the East Sea, said the address of the firm is that of his personal residence. At a press conference in the central administrative city of Sejong on Friday, Abreu, who arrived in the country on ...

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KBS WORLD Radio Fri, 07 Jun 2024 13:32:28 +0900 Economy
<![CDATA[MSCI Assesses S. Korea's Short Selling Accessibility is 'Deteriorating']]> Global index provider Morgan Stanley Capital International(MSCI) has reportedly assessed that South Korea’s short selling accessibility is “deteriorating.” According to Bloomberg News on Thursday, MSCI’s annual market accessibility review released the same day assessed that the country's ...

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KBS WORLD Radio Fri, 07 Jun 2024 10:21:01 +0900 Economy
<![CDATA[KOSPI Ends Wednesday Up 1.03%]]> The benchmark Korea Composite Stock Price Index(KOSPI) rose 27-point-four points, or one-point-03 percent on Wednesday to close at two-thousand-689-point-five. The tech-heavy KOSDAQ rose four-point-91 points, or zero-point-58 percent, to close at 850-point-75. On the foreign exchange, the local currency ...

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KBS WORLD Radio Wed, 05 Jun 2024 15:42:27 +0900 Economy
<![CDATA[Rep. from US Firm Involved in East Sea Oil, Gas Deposit Analysis Arrives in S. Korea]]> A representative from a U.S. geological firm that participated in an analysis of possible oil and gas deposits in waters off the southeastern city of Pohang, has arrived in South Korea. Vitor Abreu of the Houston-based company Act-Geo, landed at Incheon International Airport at around 11:10 a.m. Wednesday ...

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KBS WORLD Radio Wed, 05 Jun 2024 14:09:04 +0900 Economy
<![CDATA[Economy Grows 1.3% in Q1]]> The economy grew more than one percent in the first quarter on the back of strong exports and recovery in domestic consumption.  The Bank of Korea said on Wednesday that the real gross domestic product(GDP) increased one-point-three percent quarter-on-quarter in the January-March period. The GDP data ...

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KBS WORLD Radio Wed, 05 Jun 2024 08:46:41 +0900 Economy
<![CDATA[Labor, Management in Tug of War over Next Year's Minimum Wage]]> Discussions have begun in earnest on setting the minimum wage for next year. The Minimum Wage Commission, a tripartite panel composed of nine representatives each from labor, management and the general public, convened its first full session in two weeks on Tuesday to discuss next year’s rate.  The ...

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KBS WORLD Radio Tue, 04 Jun 2024 17:34:13 +0900 Economy