Economy of South Korea

South Korea manufacturing activity gains momentum

The sub-index for new export orders grew to a seasonally adjusted 51.8 from 50.7 in December, signalling growing external demand. Photo: Reuters

South Korea’s manufacturing activity expanded last month at its briskest level in eight months, a private-sector survey showed on Monday, tracking a pick-up in new export orders and attesting to the economy continuing to gather momentum.

Monday, 3 February, 2014, 3:02pm

South Korea to rebalance economy by boosting innovation, cutting red tape for business

South Korean President Park Geun-hye describes singer Psy as a symbol of the “creative economy” that she would like to champion for her country. Photo: AFP

South Korea said on Tuesday it was launching a three-year plan aimed at making its economy more attractive by focusing on innovation and cutting red tape for business.

22 Jan 2014 - 5:14pm

South Korean factory activity accelerates, but growth in new orders slows

The sub-index for new export orders dipped to a seasonally adjusted 51.9 from 53.7 in October. Photo: Reuters

South Korea’s manufacturing activity grew the most in six months last month, but the outlook was cloudy, as growth in new orders won by the country’s exporters slowed, a private-sector survey showed on Monday.

2 Dec 2013 - 8:50am

South Korea's current account surplus hits record as domestic demand stays weak

Electronics exports help South Korea's trade balance grow. Photo: Reuters

South Korea’s current account surplus surged to a record high last month as exports grew more than imports, official data showed on Thursday, underscoring still-weak domestic demand while adding to upward pressures on the won.

28 Nov 2013 - 9:30am

Maternity tourism grows booming in South Korea

South Korea's maternity facilities are attracting mothers-to-be from around Asia. Photo: Matt Douma

First-time mother-to-be Yulia Batichenko was anxious as the big day approached. In particular, she worried about the cleanliness and reliability of the maternity facilities available in her native Russia.

10 Apr 2013 - 3:44am

Beijing in push for free trade deal with Japan, South Korea

Yu Jianhua (1st left), representative of China, speaks during the trilateral talks in Seoul on March 26, 2013. China, Japan and the South Korea started the first round of trilateral talks on the free trade agreement. Photo: Xinhua

Long-awaited talks on a free trade deal involving China, Japan and South Korea opened yesterday. And while tensions, rivalries and suspicions cloud their relations, Beijing is keen to counter US initiatives in the region, which has so far excluded China.

27 Mar 2013 - 5:40am

S Korea's economy must top Park Geun-hye's agenda

Park Geun-hye has to focus on rejuvenating South Korea's economy. Photo: AFP

South Korea's recently-inaugurated president, Park Geun-hye, has perhaps the most unenviable job of all Northeast Asia's new leaders. A host of challenges await her attention, the biggest being an economy in the doldrums.

3 Mar 2013 - 3:32am

Finding a new formula for S Korea to grow and prosper

President Park Geun-hye at her inauguration on Monday. Photo: AP

The life of Park Geun-hye, South Korea's just-inaugurated first woman president, has so far been bookended by two larger-than-life men of debatable success. The first is her father, Park Chung-hee, the dictator who ruled the country for 18 years until his assassination in 1979 and second is her predecessor, Lee Myung-bak

27 Feb 2013 - 2:56am

South Korea bought nearly US$1b to curb won rise - dealers

The South Korean authorities bought nearly US$1 billion in intervention aimed at curbing the won’s strength on Thursday, dealers in Seoul estimated.

The won reversed initial gains on the reported intervention and warning remarks by a deputy finance minister. It ended local trade at 1,085.9 per dollar, down 0.3 percent from Wednesday’s close or 0.5 percent below its session high.

22 Nov 2012 - 2:50pm

South Korea warns it may curb derivatives as won rallies

A South Korean walks past a signboard featuring the South Korean won in Seoul. Photo: Reuters

South Korea warned on Thursday it was ready to take action, such as lowering the ceilings on banks’ foreign exchange derivatives positions as early as next week, to stem the won’s strength that it said was ”excessive”.

22 Nov 2012 - 2:48pm

South Korean firms seek private equity investors in Hong Kong

South Korean SMEs are turning to Hong Kong. Photo: Bloomberg

Small to medium-sized enterprises in South Korea are seeking investors in Hong Kong for capital to expand in overseas markets.

"The money is now in Hong Kong and Singapore, these are where the hot money goes," said Christopher Park, director of Korean LED glass manufacturer G-Smatt, which is looking for about US$10 million to upgrade its plant and expand overseas.

9 Nov 2012 - 3:59am

Talking Points

President Barack Obama is voting by post and casts his ballot today, more than a week before the November 6 election. Photo: AFP

Obama casts his vote early

8 May 2015 - 9:46am

Call for South Korea to go 'Gangnam style'

Psy performs at the Korean Formula One grand prix. Photo: AP

It isn't every day that the finance minister of a major country mentions a rap star when talking up his economy. But then South Korea isn't your average economy, and Psy isn't your usual entertainer.

17 Oct 2012 - 2:22am

South Korea cuts key interest rate as economy slows

Retail sales in South Korea have fallen since May. Photo: Reuters

South Korea's central bank yesterday cut its key interest rate by 25 basis points to 2.75 per cent in response to a stronger-than-than-expected slowing of economic growth.

The second cut in three months followed downward revisions of the country's growth forecast for this year and data showing a significant slump in exports and manufacturing activity.

12 Oct 2012 - 3:00am

Asian markets flat as Spain worries rise

Asian markets were flat yesterday as worries over Spain replaced the euphoria over Greece's breakthrough in resolving the political impasse.

The Hang Seng Index edged down 11.14 points, or 0.06 per cent, to close at 19,416.67, while the Shanghai Composite Index slid 0.66 per cent to close at 2,300.80.

20 Jun 2012 - 12:00am