<![CDATA[News - English [KBS WORLD Radio] | Economy]]> 15 en <![CDATA[S. Korea-Led Alliance of 18 Nations to Enhance Hydrogen Cooperation Launches]]> South Korea was joined by 17 other countries as it launched an association aimed at enhancing private sector cooperation in the development of the hydrogen industry. According to the energy ministry on Wednesday, the heads of hydrogen-related associations from the 18 countries including the U.S., China ...

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KBS WORLD Radio Wed, 25 May 2022 17:01:58 +0900 Economy
<![CDATA[KOSPI Ends Wednesday Up 0.44%]]> The benchmark Korea Composite Stock Price Index(KOSPI) rose eleven-point-35 points, or zero-point-44 percent, on Wednesday, closing the day at two-thousand-617-point-22. The tech-heavy KOSDAQ also rose, gaining seven-point-62 points, or zero-point-88 percent, to close at 872-point-69. On the foreign ...

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KBS WORLD Radio Wed, 25 May 2022 15:38:49 +0900 Economy
<![CDATA[Overall Biz Sentiment Stands Still in May Despite Worsened Sentiment for Manufacturers]]> Overall business sentiment remained constant in May despite worsened sentiment for manufacturers thanks to the lifting of most social distancing measures, which boosted face-to-face industries. According to the Bank of Korea on Wednesday, the business survey index(BSI) for all industries stood at 86 for ...

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KBS WORLD Radio Wed, 25 May 2022 11:06:05 +0900 Economy
<![CDATA[Samsung SDI, Stellantis to Jointly Build Battery Plant in Indiana]]> Samsung SDI and Stellantis have announced a joint two-point-five billion dollar venture to build an electric-vehicle battery plant in Kokomo, Indiana. According to the partnering companies, construction will begin this year with the goal of starting operation in 2025. The plant’s annual productivity ...

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KBS WORLD Radio Wed, 25 May 2022 08:49:19 +0900 Economy
<![CDATA[Conglomerates, Startups Launch Joint Entrepreneurship Project]]> Scores of top conglomerates and leading startups have jointly declared a new entrepreneurship project, pledging bigger corporate responsibility in tackling global challenges and self-initiated changes in corporate culture.  The Korea Chamber of Commerce and Industry(KCCI) on Tuesday held a ceremony marking ...

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KBS WORLD Radio Tue, 24 May 2022 18:39:21 +0900 Economy
<![CDATA[Hyundai Motor Group to Invest 63 Tln Won in S. Korea thru 2025]]> Hyundai Motor Group has announced an investment of 63 trillion won in South Korea to establish its hub for future businesses at its home turf.  The new investment plan presented on Tuesday includes the group's three major companies Hyundai Motor, Kia and Hyundai Mobis, and runs through ...

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KBS WORLD Radio Tue, 24 May 2022 18:34:40 +0900 Economy
<![CDATA[Samsung to Invest 450 Tln Won, Hire 80,000 Workers over 5 Years]]> Samsung Electronics has announced it will invest 450 trillion won over the next five years in future growth sectors including semiconductors, bioscience, artificial intelligence and next-generation communications. The tech giant on Tuesday revealed a massive investment plan to this effect titled, ...

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KBS WORLD Radio Tue, 24 May 2022 16:05:13 +0900 Economy
<![CDATA[KOSPI Ends Tuesday Down 1.57%]]> The benchmark Korea Composite Stock Price Index(KOSPI) fell 41-point-51 points, or one-point-57 percent, on Tuesday, closing the day at two-thousand-605-point-87. The tech-heavy KOSDAQ also fell, losing 18-point-52 points, or two-point-10 percent, to close at 865-point-07. On the foreign exchange, the ...

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KBS WORLD Radio Tue, 24 May 2022 15:41:34 +0900 Economy
<![CDATA[PM: Pres. Yoon Very Determined on Regulatory Reform]]> Prime Minister Han Duck-soo said on Tuesday that President Yoon Suk Yeol is very determined when it comes to regulatory reform and ordered 18 government agencies to form a related task force. Chairing a ministerial meeting on deregulation on Tuesday, the prime minister stressed the importance of the ...

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KBS WORLD Radio Tue, 24 May 2022 15:29:47 +0900 Economy
<![CDATA[Household Credit in Q1 Registers First Decline Since 2002]]> Household credit in the first quarter has declined in South Korea for the first time since records were kept as home sales slowed on the back of rising borrowing costs. According to the Bank of Korea on Tuesday, outstanding household credit stood at nearly one-thousand-860 trillion won as of late March, ...

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KBS WORLD Radio Tue, 24 May 2022 14:33:39 +0900 Economy
<![CDATA[Yoon Calls for Balanced Energy Sources, Environmentally Responsible Growth]]> President Yoon Suk Yeol has pledged South Korea will fulfill its responsibility and role as a leader in the global effort to achieve carbon neutrality. At the opening of the 28th World Gas Conference in Daegu on Tuesday, Yoon called for a reasonable mix of energy sources, including natural gas, nuclear ...

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KBS WORLD Radio Tue, 24 May 2022 13:28:49 +0900 Economy
<![CDATA[Inflation Expectations Rise to Near Decade High]]> Expectations for inflation over the next 12 months among Korean consumers hit the highest level in about a decade. According to the Bank of Korea on Tuesday, inflation expectations marked three-point-three percent in May, up zero-point-two percentage points from a month earlier. The May reading represents ...

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KBS WORLD Radio Tue, 24 May 2022 08:24:42 +0900 Economy
<![CDATA[Foreign Currency Deposits Drop for 2nd Straight Month in April]]> Foreign currency deposits at South Korean banks dropped for the second consecutive month in April, a decrease partially attributed to growing withdrawals by companies to cover overseas investments and imports. According to the Bank of Korea on Monday, residents' outstanding deposits of foreign ...

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KBS WORLD Radio Mon, 23 May 2022 15:41:15 +0900 Economy
<![CDATA[KOSPI Ends Monday Up 0.31%]]> The benchmark Korea Composite Stock Price Index(KOSPI) rose eight-point-09 points, or zero-point-31 percent, on Monday, closing the day at two-thousand-647-point-38. The tech-heavy KOSDAQ also rose, gaining three-point-71 points, or zero-point-42 percent, to close at 883-point-59. On the foreign ...

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KBS WORLD Radio Mon, 23 May 2022 15:39:38 +0900 Economy
<![CDATA[Exports Rise 24.1% in First 20 Days of May]]> Exports rose by more than 24 percent on-year in the first 20 days of May. According to tentative data from the Korea Customs Service on Monday, the country’s outbound shipments stood at 38-point-six billion U.S. dollars in the cited period, up 24-point-one percent from a year earlier. Average daily ...

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KBS WORLD Radio Mon, 23 May 2022 09:55:12 +0900 Economy
<![CDATA[Hyundai Motor to Invest Additional $5 Bln in US]]> Hyundai Motor Group Chairperson Chung Eui-sun announced on Sunday that his group will invest an additional five billion dollars in the United States by 2025 for robotics and autonomous driving software development. Chung made the announcement after his meeting with U.S. President Joe Biden, who is ...

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KBS WORLD Radio Sun, 22 May 2022 14:01:27 +0900 Economy
<![CDATA[Foreign Selloff of S. Korean Stocks Reaches 15 Tln Won This Year]]> Foreign investors net sold about 15 trillion won worth of Korean stocks so far this year as the local market remains bearish. According to the Korea Exchange on Sunday, foreigners sold a net 14-point-eight trillion won worth of Korean stocks from January 1 through Friday. They net sold ...

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KBS WORLD Radio Sun, 22 May 2022 13:06:39 +0900 Economy
<![CDATA[Local Gasoline Prices Rise for 2nd Week]]> Local gasoline prices rose for a second week despite the expanded fuel tax cuts implemented at the beginning of May.   According to oil price portal Opinet run by the Korea National Oil Corporation, the average price of gasoline sold at pumps nationwide rose 21 won to one-thousand-963-point-six won per ...

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KBS WORLD Radio Sat, 21 May 2022 13:27:24 +0900 Economy
<![CDATA[KOSPI Ends Friday Up 1.81%]]> The benchmark Korea Composite Stock Price Index(KOSPI) rose 46-point-95 points, or one-point-81 percent, on Friday, ending the week at two-thousand-639-point-29. The tech-heavy KOSDAQ also rose, gaining 16-point-08 points, or one-point-86 percent, to close at 879-point-88. On the foreign exchange, the ...

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KBS WORLD Radio Fri, 20 May 2022 15:39:40 +0900 Economy
<![CDATA[Terra, Luna Investors File Complaint Against Terraform Labs CEO]]> Investors of the cryptocurrency TerraUSD and its sister asset Luna filed a complaint against the CEO of the company in the wake of their massive crash. ​LKB and Partners, the law firm representing investors who suffered steep losses, said on Thursday that it submitted the complaint to the Seoul Southern ...

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KBS WORLD Radio Thu, 19 May 2022 16:38:38 +0900 Economy
<![CDATA[Finance Chief Underscores Need to Join CPTPP]]> Finance minister Choo Kyung-ho has stressed the need for South Korea to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, commonly referred to as the CPTPP. Attending a parliamentary budget committee on Thursday, the finance chief verified assertions that membership will have ...

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KBS WORLD Radio Thu, 19 May 2022 15:56:31 +0900 Economy
<![CDATA[KOSPI Ends Thursday Down 1.28%]]> The benchmark Korea Composite Stock Price Index(KOSPI) fell 33-point-64 points, or one-point-28 percent, on Thursday, closing the day at two-thousand-592-point-34. The tech-heavy KOSDAQ also fell, losing seven-point-77 points, or zero-point-89 percent, to close at 863-point-80. On the foreign exchange, ...

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KBS WORLD Radio Thu, 19 May 2022 15:37:50 +0900 Economy
<![CDATA[Data: Household Income Rises by Record 10.1% in 1Q]]> Household income rose over ten percent during the first quarter, expanding at a record pace in the wake of relaxed COVID-19 restrictions, state support funds for businesses and improvements in the job market. According to Statistics Korea on Thursday, the average monthly household income surged to nearly ...

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KBS WORLD Radio Thu, 19 May 2022 13:41:10 +0900 Economy
<![CDATA[Top Office Dismisses Claims IPEF Membership Jeopardizes China Ties ]]> The presidential office refuted suggestions that Seoul’s membership in the U.S.-led Indo-Pacific Economic Framework(IPEF) would harm its national interests due to the bloc's exclusion of China. At a press briefing on Wednesday, Kim Tae-hyo, the first deputy national security adviser, said the IPEF aims to ...

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KBS WORLD Radio Thu, 19 May 2022 12:00:58 +0900 Economy
<![CDATA[Trade Ministry Says IPEF Will Serve National Interest]]> The government says joining the Indo-Pacific Economic Framework(IPEF) will serve the nation's interest as South Korea continues to establish itself as an open trading country. The Ministry of Trade, Industry and Energy made the statement on Thursday as a summit declaring the framework’s launch will open ...

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KBS WORLD Radio Thu, 19 May 2022 11:33:47 +0900 Economy
<![CDATA[Nearly 100,000 People Own More than 100 Mln Won in Cryptocurrency in S. Korea]]> New data finds that nearly 100-thousand people each own more than 100 million won worth of virtual assets in the nation. According to data released by the Financial Services Commission on Thursday, the number of people who trade in domestic cryptocurrency exchanges amounted to nearly five-point-six million ...

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KBS WORLD Radio Thu, 19 May 2022 10:16:59 +0900 Economy
<![CDATA[US Stocks Post Biggest Daily Drops in about 2 Years]]> U.S. stocks posted their biggest daily drops in almost two years on Wednesday amid fears of soaring inflation and warnings of a recession. In the New York market, the Dow Jones Industrial Average plunged three-point-57 percent to finish at 31-thousand-490-point-07. The benchmark S&P 500 tumbled over four ...

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KBS WORLD Radio Thu, 19 May 2022 10:00:37 +0900 Economy
<![CDATA[S. Korea, Japan Biz Groups to Resume Regular Meetings on Hiatus for 3 Yrs]]> Major business groups of South Korea and Japan will resume their regular meetings that had been on hold for three years.    According to the business community on Wednesday, the Federation of Korean Industries and the Japan Business Federation, or Keidanren, are currently coordinating details to resume ...

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KBS WORLD Radio Wed, 18 May 2022 18:21:16 +0900 Economy
<![CDATA[Hyundai, Kia Announce Joint 21 Tln Won Investment into Local EV Industry]]> Hyundai Motor and sister company Kia have announced a combined investment of 21 trillion won in the domestic electric vehicle industry by 2030. Hyundai Motor Group said on Wednesday that the investments are expected to help advance the local EV ecosystem and bolster the country's role in leading innovation ...

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KBS WORLD Radio Wed, 18 May 2022 15:43:58 +0900 Economy
<![CDATA[KOSPI Ends Wednesday Up 0.21%]]> The benchmark Korea Composite Stock Price Index(KOSPI) rose five-point-54 points, or zero-point-21 percent, on Wednesday, closing the day at two-thousand-625-point-98. The tech-heavy KOSDAQ also rose, gaining five-point-59 points, or zero-point-65 percent, to close at 871-point-57. On the foreign ...

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KBS WORLD Radio Wed, 18 May 2022 15:41:08 +0900 Economy