Martial Law Fallout: South Korea's Economy Faces Uncertain Future
The declaration and lifting of martial law by President Yoon Suk Yeol is expected to further weigh on South Korea's already fragile economy. Prolonged instability could drive up in...
Economy News
Korea's Deputy PM Urges Swift Passage of Special Semiconductor Act for Economic Stability
Deputy Prime Minister Choi Sang-mok urged the National Assembly to swiftly pass major bills, including the Special Semiconductor Act, to enhance industrial competitiveness. He also...
South Korea's Deputy PM Assures Global Stakeholders on Policy Stability Amid Martial Law Lift
Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok has sent an urgent letter to finance ministers of various countries, heads of major international organizati...
BOK Governor Rhee Chang-yong Rules Out Further Rate Cuts Amid Political Turmoil
Bank of Korea Governor Rhee Chang-yong dismissed the possibility of further rate cuts on Dec. 4, stating that there is no reason to change the economic outlook due to the martial l...
South Korea's Economy: A Mixed Bag in Q3 GDP Growth
South Korea's economy grew by 0.1% in Q3, according to the Bank of Korea. This modest growth reflects various sectoral challenges, with decreases in exports and construction invest...
South Korea's 2025 GDP Growth Forecast Revised Down to 2.1% by OECD
The OECD has revised its forecast for South Korea's GDP growth in 2025 to 2.1%, down from 2.2%. This projection surpasses forecasts from the IMF, KDI, and the Bank of Korea, and is...
Korean Deputy PM Vows Swift Action to Stabilize Financial Markets Amid Emergency
Deputy Prime Minister Choi Sang-mok held an emergency meeting to address financial and foreign exchange market concerns following a state of emergency declaration. The government i...
South Korea's Foreign Reserves Continue to Decline Amid Surging Dollar
South Korea's foreign exchange reserves have decreased for two consecutive months due to the strength of the U.S. dollar. According to data released by the Bank of Korea (BOK) on D...
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