economic downturn News

South Korea's FKI Demands Swift Tax Reform to Revive Economy and Enhance Global Competitiveness

South Korea's FKI calls for urgent tax reforms to address the economic downturn, support small businesses, and boost high-tech industries. Legislative delays are causing uncertaint...

South Korea Faces Unprecedented Crisis: 986,000 Self-employed Businesses Shut Down in 2023

In 2023, South Korea witnessed a record high of 986,000 self-employed business closures, the highest since 2006. This surge, driven by economic downturns and rising labor costs, hi...

Record Low Start-ups in Q3: Small Business Owners Face Tough Times

The number of start-ups, particularly those led by small business owners, hit a record low in Q3 due to economic downturn and waning interest in new ventures. This decline is parti...

BOK Governor Urges Swift Economic Stimulus to Combat Economic Downturn

BOK Governor Rhee Chang-yong calls for immediate economic stimulus through active fiscal policy to combat economic downturn caused by recent political turmoil. He warns of long-ter...

UK Private Sector Activity Stagnates in December Amid Economic Uncertainty

UK's private sector activity remained unchanged in December, with the PMI Composite Output Index at 50.5. Services PMI rose to a two-month high, while Manufacturing PMI hit an 11-m...