<![CDATA[News - English [KBS WORLD Radio] | Economy]]> 15 en <![CDATA[S. Korea's Top 30 Conglomerates' Investment Jumps 11% This Year]]> South Korea's top 30 conglomerates increased their investments over ten percent in the first nine months of this year.   CEO Score, which tracks corporate management, said on Sunday that the total amount of investments of the 30 firms came to 64-point-85 trillion won in the January-September period, up ...

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KBS WORLD Radio Sun, 18 Nov 2018 14:34:41 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140889
<![CDATA[KOSPI Up 0.21% Friday]]> The benchmark Korea Composite Stock Price Index(KOSPI) rose four-point-34 points, or point-21 percent Friday. It closed the day at two-thousand-92-point-40.    The tech-heavy KOSDAQ also rose, adding eight-point-80 points, or one-point-29 percent, to close at 690–point-18.   On the ...

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KBS WORLD Radio Fri, 16 Nov 2018 15:48:45 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140858
<![CDATA[KOSPI Ends Thursday 0.97% Higher]]> The benchmark Korea Composite Stock Price Index(KOSPI) rose 20–point-01 points, or point-97 percent Thursday. It closed the day at two-thousand-88-point-06.   The tech-heavy KOSDAQ also rose, adding nine-point-82 points, or one-point-46 percent, to close at 681-point-38.   On the foreign ...

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KBS WORLD Radio Thu, 15 Nov 2018 16:42:20 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140827
<![CDATA[Kyodo: Japan's Fuji Xerox to Close Plant in S. Korea in March]]> Japan's Fuji Xerox will reportedly close a plant in South Korea in March next year as part of global restructuring. Japan's Kyodo News reported on Wednesday that the office machinery producer revealed the plan to shut down its factory in Incheon by the end of March. The report said that the planned ...

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KBS WORLD Radio Thu, 15 Nov 2018 10:34:52 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140814
<![CDATA[S. Korea Restarts Science-Technology Ministerial Meeting after 11-Yr Hiatus]]> The government has held its first science technology ministerial meeting in eleven years.  Presided over by Prime Minister Lee Nak-yon at the government complex in Seoul on Wednesday, the resumed meeting covered future plans and agendas. The meeting was first introduced under the Roh Moo-hyun ...

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KBS WORLD Radio Wed, 14 Nov 2018 18:56:59 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140803
<![CDATA[Samsung BioLogics' Shares Suspended over Alleged Accounting Fraud]]> South Korea's financial regulator has suspended stock trading of Samsung BioLogics, accusing the company of committing accounting fraud to inflate its value. Kim Yong-beom, chairman of the Securities and Futures Commission, announced a ruling on Wednesday that the company breached accounting rules in ...

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KBS WORLD Radio Wed, 14 Nov 2018 18:38:46 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140801
<![CDATA[Automakers in S. Korea Call for State Support ]]> Local automakers and components manufacturers have called for state assistance in resolving their current crisis.   The request was delivered during a meeting between industry representatives and Trade, Industry and Energy Minister Sung Yun-mo on Wednesday.  They called for measures to ...

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KBS WORLD Radio Wed, 14 Nov 2018 17:00:06 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140797
<![CDATA[KOSPI Falls 0.15% Wednesday]]> The benchmark Korea Composite Stock Price Index(KOSPI) fell three-point-18 points, or point-15 percent Wednesday. It closed the day at two-thousand-68-point-05.  The tech-heavy KOSDAQ rose, adding point-71 points, or point-11 percent, to close at 671-point-56. On the foreign exchange, the local currency ...

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KBS WORLD Radio Wed, 14 Nov 2018 15:43:06 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140791
<![CDATA[Employment Situation Remains Bleak Despite Slight Improvement in Job Growth]]> Anchor: New data finds that the number of people with jobs grew by more than 60-thousand on-year in October. That’s an improvement compared to previous months, however, the job situation continues to look bleak as the employment rate slipped for the ninth straight month and the number of jobless people ...

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KBS WORLD Radio Wed, 14 Nov 2018 14:57:57 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140788
<![CDATA[Samsung to Offer Official Apology over Work-related Disease Controversy]]> Samsung Electronics is expected to deliver an official apology next week over the long-standing dispute with its former workers suffering from alleged work-related diseases. Earlier this month, the mediation committee for the dispute between Samsung and an advocacy group representing victims of ...

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KBS WORLD Radio Wed, 14 Nov 2018 14:06:08 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140786
<![CDATA[Finance Minister Nominee Says Employment Situation Remains Serious]]> Finance minister nominee Hong Nam-ki says that though the number of people with jobs grew slightly on-month in October, the nation’s employment situation remains grave.  Hong made the remark on Wednesday at the Korea Deposit Insurance Corporation in Seoul where he set up a team to prepare for his ...

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KBS WORLD Radio Wed, 14 Nov 2018 11:22:10 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140782
<![CDATA[S. Korea's Jobless Rate Hits 13-Year High in Oct.]]> South Korea's jobless rate hit a 13-year high in October, although monthly job growth slightly increased from a year ago.  According to Statistics Korea on Wednesday, the number of employed people last month stood at 27-point-09 million, up 64-thousand from a year earlier.  The monthly ...

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KBS WORLD Radio Wed, 14 Nov 2018 09:31:03 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140779
<![CDATA[Hyundai, Kia Cars in Europe to Offer "Connected Car" Services ]]> Hyundai Motor and affiliate Kia Motors plan to launch what they call "Connected Car" services in Europe early next year.  Certain new vehicles will be equipped with real-time traffic navigation, parking lot location, voice recognition, and theft alarm capabilities. The car companies are ...

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KBS WORLD Radio Tue, 13 Nov 2018 18:27:45 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140770
<![CDATA[JP Morgan Predicts Key Rate Hikes for S. Korea from Nov. ]]> JP Morgan is predicting the Bank of Korea will raise the benchmark interest rate by zero-point-25 percentage points this month.  According to the Korea Center for International Finance, JP Morgan anticipates a rate increase of 25 basis points, citing the need for financial stabilization given a rapid ...

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KBS WORLD Radio Tue, 13 Nov 2018 18:20:57 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140768
<![CDATA[Moody's Cites Geopolitical Risks, Population Aging to Affect S. Korea's Ratings]]> Moody's Investors Service has cited geopolitical risks and the rapidly-aging South Korean society as factors that affect the country's sovereign ratings. At a media briefing in Seoul Tuesday, Christian de Guzman, senior credit officer of Sovereign Risk Group at Moody's, said the recent thaw in inter-Korean ...

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KBS WORLD Radio Tue, 13 Nov 2018 16:57:29 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140763
<![CDATA[KOSPI Falls 0.44% Tuesday ]]> The benchmark Korea Composite Stock Price Index(KOSPI) fell nine-point-21 points, or point-44 percent Tuesday. It closed the day at two-thousand-71-point-23.  The tech-heavy KOSDAQ remained almost flat, gaining just point-03 point, to close at 670-point-85. On the foreign exchange, the local ...

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KBS WORLD Radio Tue, 13 Nov 2018 15:51:04 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140758
<![CDATA[Cost of Kimchi-Making for Winter Season to Surpass 300,000 Won ]]> A local price survey agency has found it will cost a family of four up to 308-thousand won to prepare kimchi for the winter season this year. The Korea Price Information Corporation said Tuesday that the price of napa cabbage remained at the same level as last year at three-thousand-500 won per head, ...

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KBS WORLD Radio Tue, 13 Nov 2018 15:10:49 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140756
<![CDATA[FTC: Founding Families of Conglomerates Double Stakes After Converting to Holding Companies]]> Heads of conglomerates and their family members have more than doubled their stakes after converting their ownership structure into holding companies. The Fair Trade Commission(FTC) said Tuesday that out of 19 holding firms it analyzed, 12 involved the founding family members exchanging their affiliate ...

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KBS WORLD Radio Tue, 13 Nov 2018 14:28:47 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140754
<![CDATA[S. Korea's Import Prices Hit 4-Year High in October]]> South Korea's import prices hit a four-year high last month due to a rise in crude oil prices. According to the data by the Bank of Korea on Tuesday, the import price index rose one-point-five percent to 92-point-06 in October from the previous month.  It’s the highest figure since September 2014, when ...

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KBS WORLD Radio Tue, 13 Nov 2018 08:26:30 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140742
<![CDATA[Labor Union Willing to Attend 3-Way Talks over GM Korea's Spin-off Plan]]> The labor union of General Motors(GM) Korea says it is willing to accept the company’s second-largest shareholder’s proposal to hold tripartite talks with management over the automaker’s controversial spin-off plan.   The GM Korea chapter of the Korean Metal Workers' Union ensured on Monday, ...

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KBS WORLD Radio Mon, 12 Nov 2018 16:57:12 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140731
<![CDATA[Labor Productivity in Q2 Rises Faster than US, Japan]]> Labor productivity in South Korea in the second quarter increased faster than in the United States or Japan. According to data released by the Korea Productivity Center on Monday, the labor productivity index for all industries rose four percent year-on-year to record 109 during the April to June ...

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KBS WORLD Radio Mon, 12 Nov 2018 16:52:24 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140730
<![CDATA[KOSDAQ Plunges 2.40% Monday ]]> The benchmark Korea Composite Stock Price Index(KOSPI) fell five-point-65 points, or point-27 percent on Monday. It closed the day at two-thousand-80-point-44.  The tech-heavy KOSDAQ plunged 16-point-47 points, or two-point-40 percent, on foreign and institutional sales. It closed the day ...

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KBS WORLD Radio Mon, 12 Nov 2018 15:48:13 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140725
<![CDATA[Moon's Second Economic Team Vows to Pursue Income-led Growth in Close Cooperation]]> Anchor: Newly appointed heads of economic policy in the Moon Jae-in administration say they will closely work together to reinvigorate the economy by pursuing three key policies of income growth, innovation and fair competition.  Lee Bo-kyung has the story. Report: Newly appointed presidential chief ...

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KBS WORLD Radio Mon, 12 Nov 2018 13:49:52 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140719
<![CDATA[Finance Minister Nominee Sees Job Situation as 'Grave']]> Finance Minister designate Hong Nam-ki said he thinks the nation's employment situation is grave, and vowed to closely monitor related statistics.  Hong told reporters on Monday that he will closely watch the labor situation and think about what the government could do further to revive the economy for ...

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KBS WORLD Radio Mon, 12 Nov 2018 10:53:19 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140715
<![CDATA[Presidential Chief of Staff for Policy Vows to Support Finance Minister]]> Newly appointed presidential chief of staff for economic policy Kim Soo-hyun has stressed that he will fully support Finance Minister designate Hong Nam-ki to ensure a unified front. Kim said during a news conference Sunday that Finance Minister Hong will be the sole control tower of handling and managing ...

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KBS WORLD Radio Mon, 12 Nov 2018 09:30:05 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140712
<![CDATA[Alibaba Sets New Singles' Day Record in Sales]]> Chinese e-commerce giant Alibaba Group Holding posted 213-point-five billion yuan or about 35 trillion won in sales on Sunday during its 24-hour online retail frenzy Singles' Day.  According to Chinese online media The Paper on Monday, annual sales marked a 26-point-nine percent increase from the previous ...

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KBS WORLD Radio Mon, 12 Nov 2018 09:02:03 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140711
<![CDATA[Auto Insurance Premiums Likely to Rise 3%]]> Car insurance premiums are expected to rise by around three percent in November or December.   According to financial authorities and the industry, Meritz Fire and Marine Insurance, which accounts for five percent of the auto insurance market, recently requested the Korea Insurance Development ...

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KBS WORLD Radio Sun, 11 Nov 2018 14:17:37 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140706
<![CDATA[Finance Minister Nominee Says to Implement Income-led Growth Policy]]> Finance Minister nominee Hong Nam-ki said that he will work to implement the government's income-led growth policy rather than argue against calls for abandoning the policy.   Hong made the remarks on Friday to reporters, saying that if unintended problems arise in the process of implementing the ...

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KBS WORLD Radio Sun, 11 Nov 2018 14:09:10 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140705
<![CDATA[S. Korea's Ability to Create Jobs Expected to Hit 9-Year Low]]> The South Korean economy's ability to create new jobs is expected to fall to the lowest level in nine years this year.   According to the Bank of Korea's estimate on Sunday, the Korean economy's gross domestic product (GDP) elasticity is expected to post point-11 this year, the lowest ...

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KBS WORLD Radio Sun, 11 Nov 2018 13:15:24 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140702
<![CDATA[Housing Price Growth in Seoul Slows After September Measures]]> Anchor: After months of overheating, Seoul’s real estate market has stagnated in the last two months. The number of houses being bought and sold rapidly decreased after the government introduced a number of measures aimed at stabilizing the housing market in September. Jim Bulley has his ...

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KBS WORLD Radio Sat, 10 Nov 2018 13:46:14 +0900 Economy http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=140698