Economy News

Economy

South Korea's Wealth Divide: The Top 10% Control 43.5% of Net Assets

South Korea faces a widening wealth gap, with the top 10% of households holding 43.5% of net assets. Real estate is the primary driver of this disparity, accounting for 71.5% of to...

Economy

Potential Supplementary Budget Looms: A Shift in Yoon's Fiscal Policy?

The Office of the President hints at a potential supplementary budget for next year, marking a shift in President Yoon Suk Yeol's fiscal policy. This move could signal more active ...

Economy

Online Shopping Market Faces Slowest Growth Since 2017 Amid Economic Challenges

The online shopping market in South Korea saw its lowest growth rate since 2017, with a mere 0.6% increase in October transaction amounts. This slowdown is attributed to economic c...

Economy

Korea's Industrial Competitiveness Meeting: A Strategic Shift Under Trump 2.0

The government is set to hold the Industrial Competitiveness Ministers' Meeting next week, marking the first such gathering since December 2022. The meeting, scheduled for Nov. 27,...

Economy

Off-Season Durian Prices Double, Yet Farmers Face Massive Losses

The off-season for durian in Tien Giang has begun, but this year's harvest is unusually quiet. Farmers are facing massive losses as extreme weather conditions have caused durian fl...

Economy

Hidden Bars Emerge as Productive Workplaces for Young Professionals

Hidden bars in Hanoi and HCMC are becoming popular workplaces for young professionals seeking quiet, productive environments. These speakeasy bars offer a tranquil atmosphere with ...

Economy

South Korea's Export Boom: A 5.8% Rise in Early November and a $798 Million Trade Surplus

South Korea's exports rose by 5.8% in early November, while imports fell by 1%, resulting in a trade surplus of $798 million. The increase in exports was led by semiconductors, shi...

Economy

Inflationary Pressure Looms as Exchange Rates Surge: BOK's Forecast for December

Kim Woong, deputy governor of the Bank of Korea, predicts inflationary pressure due to high exchange rates will emerge starting in December. This prediction comes as the Consumer P...