economic downturn

Economy Korea’s Q1 economic contraction adds to stimulus expectations

South Korea's economy unexpectedly contracted in the first quarter as exports and consumption fell amid a political crisis and fears over the impact...

Central bank BOK stands pat; rate cut likely within 3 months as economic growth slows

The Bank of Korea (BOK) left its benchmark interest rate unchanged at 2.75% on Thursday, with Governor Rhee Chang-yong warning that a surge in globa...

Retail Koreans cut spending in March, except on health, education

South Korean consumers exhibited recessionary spending behavior in March, cutting expenditures across nearly all sectors, except healthcare and educ...

Retail Koreans cut spending in March, except on health, education

South Korean consumers exhibited recessionary spending behavior in March, cutting expenditures across nearly all sectors, except healthcare and educ...

E-commerce Luxury fashion platform Balaan files for court receivership amid slump

South Korea’s top luxury goods e-commerce platform Balaan Co. said on Monday it has filed for corporate rehabilitation with a Seoul court as t...

Mergers & Acquisitions Meta in talks to acquire Korean fabless chip startup FuriosaAI: Forbes

Meta Platforms Inc., the parent of Facebook and Instagram, is in talks to acquire Seoul-based AI chip startup FurisosaAI Inc. and the discussion cou...

Tech, Media & Telecom South Korea’s alternative data pioneer KED Aicel in full force

South Korea’s leading alternative data service provider Hankyung Aicel Inc. is poised to transform companies' and investors’ business an...

Central bank BOK lowers growth forecasts to bolster rate cut expectations

South Korea’s central bank slashed its economic growth forecasts on Monday, adding to views that the monetary authority will cut interest rate...

Corporate bonds Korean petrochemical sector to sell corporate bonds amid downturn

South Korea’s petrochemical producers are set to issue corporate bonds to take advantage of ample liquidity at the beginning of the year amid ...

Economy Korea’s 2024 exports hit all-time high, driven by chips, shipments to China

South Korea’s exports, the country’s main growth driver, reached an all-time high in 2024, buoyed by strong semiconductor exports and a ...

Business & Politics Korea’s new acting president assures economy resilient, security tight

South Korea’s new Acting President Choi Sang-mok said on Friday he is confident that the country’s economy is resilient and its national...

Mergers & Acquisitions Hahn & Co. to buy controlling stake in SK’s specialty gas unit for $1.9 bn

South Korea’s private equity firm Hahn & Co. is set to acquire a controlling stake in the world’s top specialty gas producer SK Spec...

Automobiles Korea’s commercial vehicle sales tumble on economic slowdown

South Korea’s commercial vehicle sales are plunging on sluggish domestic demand amid a slowdown in Asia’s fourth-largest economy.Local s...

Economy South Korea’s economic system remains resilient: finance minister

The South Korean economy is solid, and the government will take “bold and swift’’ actions if needed to stabilize Asia’s four...

Business & Politics S.Korea's Yoon survives impeachment; economic fundamentals firm

South Korean President Yoon Suk Yeol survived an impeachment vote against him after an overwhelming majority of governing party lawmakers boycotted ...

Economy Korean economic policy chiefs play down martial law impact

South Korea’s Finance Minister Choi Sang-mok said on Friday that President Yoon Suk Yeol’s failed martial law attempt will have a very l...

Economy State-run think tank KDI slashes GDP forecast, urges BOK to cut rates

The Korea Development Institute (KDI), South Korea’s state-run think tank, has slashed its forecasts for the country’s economic growth f...

Economy Korea’s economy sees slower-than-expected rebound in Q3

South Korea’s economy rebounded slower than central bank expectations in the third quarter on sluggish exports, adding to predictions that the...

Retail S.Korean travel retailers face downturn without Chinese big spenders

Before COVID-19 swept the world, South Korea’s top two travel retailers Lotte Duty Free and Shilla Duty Free Shop ascended to the world’...

Central bank BOK signals autumn rate cut as inflation, economic growth slow

South Korea’s central bank is likely to reduce interest rates in the next three months as inflation is expected to ease amid a slowdown in Asi...

Companies Hyundai AutoEver wins $66 mn public safety contract in Angola

Hyundai AutoEver Corp., a software subsidiary of Hyundai Motor Group, secured consecutive contracts to build public safety systems in African countr...

Korean stock market South Korean stocks rebound but still on rollercoaster

South Korean stocks on Tuesday recouped some of their hefty losses caused by the previous day's global panic selling after financial authorities iss...

Foreign exchange Korean won hits 15-year low in Q2 amid FX, economic uncertainty  

The South Korean currency fell to its lowest level against the US dollar in 15 years in the second quarter amid growing uncertainties surrounding gl...

Business & Politics S.Korea, UAE sign economic partnership, reaffirm $30 bn investment

South Korea and the United Arab Emirates on Wednesday signed a comprehensive economic partnership agreement (CEPA) to facilitate bilateral trade aft...

Central bank BOK sees more uncertainty in rate cut timing, ups growth forecast

The Bank of Korea said on Thursday it has grown more uncertain about when to cut interest rates despite expectations of easing the monetary policy g...

Asset management Korean investors turn to private credit, secondaries: CIOs

South Korean institutional investors favor private credit as interest rates are expected to remain higher for longer, said speakers at the chief inv...

Business & Politics KCCI to support Korean companies expanding into US

The Korea Chamber of Commerce and Industry (KCCI) partnered with the Korean American Chamber of Commerce of Los Angeles (KACCLA)  to address th...

Economy OECD sharply revises up S.Korea GDP forecast after strong Q1

The Organisation for Economic Co-operation and Development (OECD) forecasts South Korea’s economy to expand at a faster pace than it previousl...

Executive reshuffles Korea’s Shinsegae replaces building unit chief amid property downturn

South Korea’s retail giant Shinsegae Group on Tuesday replaced the head of its construction unit amid the sluggish property market, adding to ...

Asset management Fed rate cuts will be faster than market consensus: TCW

Investors tend to rush to fixed-income markets when recession risk rises. South Korean investors are no exception – retail investors have been...