<![CDATA[News - English [KBS WORLD Radio] | Economy]]> 15 en <![CDATA[KOSPI Closes Friday Up 0.11%]]> The benchmark Korea Composite Stock Price Index(KOSPI) gained two-point-52 points, or point-11 percent, on Friday. It ended the week at two-thousand-250-point-57.  The tech-heavy KOSDAQ also rose, gaining one-point-89 points, or point-28 percent, to close at 688-point-41.  On the foreign exchange, ...

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KBS WORLD Radio Fri, 17 Jan 2020 15:50:17 +0900 Economy
<![CDATA[Gov't: Sluggish Exports, Construction Investment Continue to Weigh on Economy]]> The South Korean government said sluggish exports and weaker construction investment continue to weigh on the domestic economy, despite recent gains in service output and consumption. In its monthly assessment report on Friday, the Finance Ministry said exports and construction investment are still in ...

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KBS WORLD Radio Fri, 17 Jan 2020 15:49:09 +0900 Economy
<![CDATA[BOK Keeps Key Rate Steady at 1.25%]]> South Korea's central bank kept its policy rate steady at a record low amid signs of improving economic conditions. During its first rate-setting meeting of the year on Friday, the Bank of Korea's monetary policy board voted to freeze the rate at one-point-25 percent. The rate has been kept steady since ...

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KBS WORLD Radio Fri, 17 Jan 2020 10:54:11 +0900 Economy
<![CDATA[UN Expects Global Economy to Grow 2.5% in 2020]]> The United Nations expects the global economy to grow two-point-five percent this year if downside risks are kept at bay. The UN Conference on Trade and Development(UNCTAD) issued the projection in a report published Thursday, adding that the world economy expanded by two-point-three percent last year, its ...

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KBS WORLD Radio Fri, 17 Jan 2020 10:29:30 +0900 Economy
<![CDATA[Sales of Audi A6, A8 Suspended in S. Korea over Rear Seat Belt Issue]]> Audi has temporarily suspended sales of its A6 and A8 sedans in South Korea over an issue concerning the vehicles’ rear seat belts. Audi Korea on Thursday took the measure following a notice from the auto manufacturer’s German headquarters that the warning system for the vehicles’ rear seat belts ...

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KBS WORLD Radio Thu, 16 Jan 2020 18:42:28 +0900 Economy
<![CDATA[Jeonse-Deposit Loan Banned for High-Priced Homeowners Starting Jan. 20 ]]> Starting on January 20th, owners of homes worth more than 900 million won will be banned from taking out loans with their jeonse deposit as collateral. The Financial Services Commission and the Land Ministry on Thursday laid out a detailed plan for the government's jeonse-deposit loan regulations announced ...

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KBS WORLD Radio Thu, 16 Jan 2020 17:07:53 +0900 Economy
<![CDATA[IMF Official Warns US-China Trade Deal Could Negatively Affect S. Korean Exports]]> A senior official at the International Monetary Fund(IMF) has warned that the trade deal between the U.S. and China could have a negative impact on South Korean exports. At a lecture in Seoul on Wednesday, IMF Asia and Pacific Department Director Rhee Chang-yong positively assessed the deal in relation to ...

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KBS WORLD Radio Thu, 16 Jan 2020 16:48:52 +0900 Economy
<![CDATA[Foreign Ownership of S. Korean Stocks Reaches 13-Year High]]> Foreign ownership of South Korean stocks reached a 13-year high amid optimism for a full resolution to a trade row between the United States and China and eased concerns over the situation in the Middle East. The Korea Financial Investment Association said Thursday that foreign investors held 586 trillion ...

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KBS WORLD Radio Thu, 16 Jan 2020 15:55:18 +0900 Economy
<![CDATA[S. Korean Stocks Rise Following 'Phase One' US-China Trade Deal]]> South Korea's stocks rose on Thursday following the signing of a "phase one" trade deal between the United States and China. The benchmark Korea Composite Stock Price Index(KOSPI) gained 17-point-07 points, or point-77 percent. It ended the day at two-thousand-248-point-05.  The tech-heavy KOSDAQ also ...

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KBS WORLD Radio Thu, 16 Jan 2020 15:52:26 +0900 Economy
<![CDATA[KB Securities: US-China Trade Deal to Boost Global Economic Growth 0.1%p]]> KB Securities has forecast that the world economy will experience positive effects this year from the partial trade deal signed by the United States and China on Wednesday. Senior researchers Kim Doo-eon and Kim Woo-young at the investment bank projected on Thursday that the global economy will grow an ...

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KBS WORLD Radio Thu, 16 Jan 2020 11:41:17 +0900 Economy
<![CDATA[KOSPI Closes Wednesday Down 0.35%]]> The benchmark Korea Composite Stock Price Index(KOSPI) lost seven-point-90 points, or point-35 percent, on Wednesday. It ended the day at two-thousand-230-point-98. The tech-heavy KOSDAQ rose, gaining point-45 point, or point-07 percent, to close at 679-point-16. On the foreign exchange, the local ...

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KBS WORLD Radio Wed, 15 Jan 2020 15:44:13 +0900 Economy
<![CDATA[S. Korea Adds 301,000 Jobs in 2019, Employment Rate Hits 22-Year High]]> South Korea added over 300-thousand jobs last year and the employment rate reached a 22-year high. According to Statistics Korea on Wednesday, the number of employed people reached 27-point-15 million in December, up 516-thousand from a year earlier. It marked the largest growth in five years and four ...

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KBS WORLD Radio Wed, 15 Jan 2020 09:43:18 +0900 Economy
<![CDATA[KOSPI Closes Monday Up 1.04%]]> The benchmark Korea Composite Stock Price Index(KOSPI) gained 22-point-87 points, or one-point-04 percent on Monday. It ended the day at two-thousand-229-point-26. The tech-heavy KOSDAQ also rose, gaining six-point-19 points, or point-92 percent, to close at 679-point-22.  On the foreign exchange, the ...

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KBS WORLD Radio Mon, 13 Jan 2020 15:49:16 +0900 Economy
<![CDATA[Over 20% of Unemployed S. Koreans Age 25-29; Highest in OECD for 7th Straight Year]]> More than 20 percent of South Korea's unemployed were in their late twenties in 2018, the largest such figure among advanced economies. According to data by the Organization for Economic Cooperation and Development(OECD) on Monday, jobless 25 to 29-year-olds accounted for 21-point-six percent of the ...

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KBS WORLD Radio Mon, 13 Jan 2020 10:51:32 +0900 Economy
<![CDATA[Samsung Electronics Ranks 18th in the World in Market Cap]]> Samsung Electronics ranked the world's 18th most valuable company in terms of market capitalization this year, jumping ten notches from a year earlier.   According to data by Bloomberg on Sunday, Samsung's market cap reached 301-point-65 billion dollars as of Thursday, up 95-point-08 billion ...

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KBS WORLD Radio Sun, 12 Jan 2020 12:25:00 +0900 Economy
<![CDATA[Gas Prices Up for 8th Week, Further Rise Expected ]]> Gasoline prices nationwide have risen for eight straight weeks while the price of diesel is up for the seventh week.   According to Opinet, an oil price information website run by the Korea National Oil Corporation, the national average price of regular gasoline rose six-point-four won to just over ...

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KBS WORLD Radio Sat, 11 Jan 2020 13:51:34 +0900 Economy
<![CDATA[Korean Tech Giants Preview Future at CES 2020]]> Anchor: The latest in innovative technologies were showcased at this year's Consumer Electronics Show, known as CES. Among the highlights were Neon, the world’s first "artificial human," introduced by a Samsung-backed lab and South Korean automaker Hyundai's collaboration with Uber for future air ...

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KBS WORLD Radio Fri, 10 Jan 2020 16:04:17 +0900 Economy
<![CDATA[KOSPI Closes Friday Up 0.91%]]> The benchmark Korea Composite Stock Price Index(KOSPI) gained 19-point-94 points, or point-91 percent, on Friday. It ended the week at two-thousand-206-point-39.  The tech-heavy KOSDAQ also rose, gaining six-point-94 points, or one-point-04 percent, to close at 673-point-03.  On the foreign exchange, ...

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KBS WORLD Radio Fri, 10 Jan 2020 15:44:19 +0900 Economy
<![CDATA[Gov't to Discuss Oil Reserves Cooperation with UAE]]> The government will discuss with the United Arab Emirates(UAE) ways to cooperate on oil reserves amid heightened tensions between the U.S. and Iran. The Ministry of Trade, Industry and Energy announced on Friday that the head of its Office of Energy and Resources, Joo Young-joon, will attend the tenth ...

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KBS WORLD Radio Fri, 10 Jan 2020 11:31:57 +0900 Economy
<![CDATA[Prosecutors Summon Fmr. Samsung Executive in Merger Probe]]> Prosecutors on Friday summoned a former executive of Samsung Group's now-defunct Future Strategy Office regarding alleged improprieties behind the controversial 2015 merger of Samsung C&T and Cheil Industries. The Seoul Central District Prosecutors' Office is questioning Kim Jong-joong, the former ...

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KBS WORLD Radio Fri, 10 Jan 2020 11:11:04 +0900 Economy
<![CDATA[Finance Minister: No Direct Impact on S. Korean Economy from Middle East Situation]]> Finance Minister Hong Nam-ki said Friday that domestic and foreign financial market volatility appear to be showing signs of easing as the U.S. and Iran moved to defuse tension. In opening remarks at a meeting of economy-related ministers, Hong warned against excessive fears and said no direct impact or ...

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KBS WORLD Radio Fri, 10 Jan 2020 09:37:27 +0900 Economy
<![CDATA[Stocks Rise after Trump Appears to Take Off-Ramp with Iran]]> South Korean stocks were up on Thursday after U.S. President Donald Trump said there would be no additional military action taken against Iran. The benchmark Korea Composite Stock Price Index(KOSPI) gained 35-point-14 points, or one point-63 percent on Thursday. It ended the day at ...

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KBS WORLD Radio Thu, 09 Jan 2020 15:46:23 +0900 Economy
<![CDATA[World Bank Cuts Global Growth Outlook for 2020 to 2.5%]]> The World Bank has lowered its global economic forecast for this year in light of a slowdown in global trade and weak investment. In its semi-annual Global Economic Prospects report released on Wednesday, the bank said global economic growth will accelerate marginally to two-point-five percent this year ...

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KBS WORLD Radio Thu, 09 Jan 2020 10:52:17 +0900 Economy
<![CDATA[Ruling Bloc to Lift Regulations on Military Facility Protection Zones]]> The government and the ruling Democratic Party(DP) on Thursday agreed to lift or ease development restrictions on 14 military facility protection zones near the border with North Korea. Rep. Cho Jung-sik, the ruling party's chief policymaker, said that the ruling bloc reached the agreement in a ...

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KBS WORLD Radio Thu, 09 Jan 2020 10:31:44 +0900 Economy
<![CDATA[LG Expects Poor Q4 Earnings Due to Sluggish Smartphone Business]]> LG Electronics on Wednesday said it estimated lower-than-expected earnings for the fourth quarter of last year due to expanded losses in its smartphone division. In an earnings guidance, the South Korean electronics maker said it expects 98-point-six billion won in operating income for the October to ...

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KBS WORLD Radio Wed, 08 Jan 2020 16:43:16 +0900 Economy
<![CDATA[KOSPI Closes Wednesday Down 1.11%]]> South Korea's stock markets closed sharply lower Wednesday following Iran's missile attacks against U.S. forces in Iraq. The benchmark Korea Composite Stock Price Index(KOSPI) lost 24-point-23 points, or one-point-11 percent, ending the day at two-thousand-151-point-31. The tech-heavy KOSDAQ ...

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KBS WORLD Radio Wed, 08 Jan 2020 15:49:42 +0900 Economy
<![CDATA[S. Korea to Timely Respond to Volatility in Middle East amid US-Iran Tensions]]> South Korea's top economic policymaker says the government will timely respond to volatility in the Middle East amid rising tensions between the United States and Iran. At a meeting with officials on Wednesday, Finance Minister Hong Nam-ki said rapid developments in the region have increased the ...

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KBS WORLD Radio Wed, 08 Jan 2020 11:53:18 +0900 Economy
<![CDATA[Finance Minister: S. Korea to Spend 62% of Budget in First Half]]> Finance Minister Hong Nam-ki said on Wednesday that 62 percent of the state budget will be implemented in the first half of this year in efforts to revitalize the economy. In a meeting with economy-related ministers, Hong said that in particular, the government will spend 37 percent of the budget on job ...

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KBS WORLD Radio Wed, 08 Jan 2020 09:48:44 +0900 Economy
<![CDATA[Samsung Electronics Says 2019 Operating Profit Fell 53%]]> Samsung Electronics said on Wednesday that its operating profit likely fell some 53 percent last year.  According to the world's largest memory chip maker, its operating profit was estimated at 27-point-71 trillion won last year, down 52-point-95 percent from a year earlier.   The tech firm's annual sales ...

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KBS WORLD Radio Wed, 08 Jan 2020 09:26:42 +0900 Economy
<![CDATA[KOSPI Closes Tuesday Up 0.95%]]> The benchmark Korea Composite Stock Price Index(KOSPI) gained 20-point-47 points, or point-95 percent, on Tuesday. It ended the day at two-thousand-175-point-54. The tech-heavy KOSDAQ also rose, gaining eight-point-13 points, or one-point-24 percent, to close at 663-point-44. On the foreign exchange, the ...

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KBS WORLD Radio Tue, 07 Jan 2020 15:41:34 +0900 Economy