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S. Korea, Thailand set to hold 6th round of economic partnership negotiations
South Korea and Thailand were set to kick off their sixth round of negotiations for a bilateral economic partnership agreement Tuesday, as the two sides seek to expand ties amid global trade uncertainties, Seoul's industry ministry said. The latest round of talks for the EPA is set to run for four days in Seoul, according to the Ministry of Trade, Industry and Energy. The two sides plan to focus on making progress in 10 sectors, including goods, services, investment and digital economy, it added
June 10, 2025 -
S. Korea's current account surplus narrows in April amid US tariff pressure
South Korea logged a current account surplus for the 24th consecutive month in April, but the surplus narrowed from the previous month due partly to the impact of the United States' aggressive tariff scheme, central bank data showed Tuesday. The country's current account surplus reached US$5.7 billion in April, narrowing from a $9.14 billion surplus the previous month, according to the data compiled by the Bank of Korea. South Korea has reported a current account surplus every month since May 20
June 10, 2025 -
Lee likely to meet business leaders later this week ahead of G7 summit
President Lee Jae-myung is expected to meet with top business leaders and heads of major economic organizations later this week, ahead of his participation in the Group of Seven summit in Canada, industry sources said Monday. According to the sources, the presidential office is arranging the meeting for Thursday or Friday, with the Korea Chamber of Commerce and Industry coordinating final details on behalf of the business community. The gathering is expected to bring together the heads of South
June 9, 2025 -
Korea eyes aggressive fiscal push as Lee targets 3% potential growth
President Lee Jae-myung on Monday ordered swift action to roll out fiscal stimulus, aiming to revive economic momentum and fulfill his pledge to raise the country’s potential growth rate to 3 percent. “The president instructed officials to swiftly draft a supplementary budget to boost consumption and support economic recovery, urging prioritization of aid for vulnerable groups and small businesses,” presidential spokesperson Kang Yu-jung said after Lee held a meeting of his emergency economic ta
June 9, 2025 -
Lee to hold 2nd emergency economic task force meeting Monday
President Lee Jae-myung will hold the second meeting of the emergency economic task force this week, his office said Sunday, which is likely discuss an additional supplementary budget to boost the local economy. Lee is set to preside over the session with presidential aides, relevant authorities and working-level officials on Monday, with economic stimulus measures and details of the second supplementary budget expected to be high on the agenda. Lee chaired the first meeting of the task force on
June 8, 2025 -
AMCHAM delegation to visit US for meetings with Trump administration officials, lawmakers
The American Chamber of Commerce in Korea (AMCHAM) will send a delegation to Washington this week to promote the economic relations between South Korea and the United States following the inauguration of President Lee Jae-myung, industry officials said Sunday. As part of AMCHAM's annual "Doorknock" program, the delegation will meet with officials from the Donald Trump administration, members of Congress and policy experts from leading think tanks between Tuesday and Thursday. The visit comes ami
June 8, 2025 -
Global banks raise Korea's growth outlook on stimulus hopes
Major global investment banks are raising their projections for South Korea’s real gross domestic product growth this year, citing expectations of large-scale fiscal stimulus measures under the new administration and signs of easing trade tensions between the US and China, according to their latest reports. Goldman Sachs recently raised its 2025 growth outlook for South Korea from 0.7 percent to 1.1 percent. In a report released May 16, the firm cited easing US tariff risks, improved economic pr
June 8, 2025 -
Political uncertainty falls below pre-martial law levels: BOK
The level of political uncertainty in South Korea has returned to levels seen prior to the martial law incident, following the recent presidential election, the central bank said Friday. According to data submitted by the Bank of Korea to Rep. Cha Gyu-geun of the Rebuilding Korea Party, the political uncertainty index stood at 1.5 as of June 4, the day after the election, in which Democratic Party candidate Lee Jae-myung defeated conservative rival Kim Moon-soo. The index, which had been around
June 6, 2025 -
US Treasury keeps Korea on currency manipulation watchlist
South Korea remained on the US Treasury Department’s currency-monitoring watchlist updated Thursday, signaling heightened scrutiny over potential currency manipulation accusations. The US Treasury issued the Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States report, maintaining Korea on the monitoring list for extra foreign exchange scrutiny. Korea was first added to the watchlist in April 2016. It was dropped from the list in November 2023 but was reinsta
June 6, 2025 -
Is foreign appetite for housing a threat to Korea?
Foreign nationals are increasingly entering the housing market, and their growing presence is beginning to raise questions about the future of housing access, investment behavior and regulatory oversight. Over the past three years, the number of homes owned by foreign buyers has steadily increased, rising by 4 to 6 percent every six months. Recently, the trend reached a new milestone. As of late December, foreign nationals owned more than 100,000 housing units in South Korea — the first time the
June 5, 2025 -
Seoul shares open higher on chip, heavy machinery gains
South Korean stocks opened higher Thursday, boosted by gains in semiconductors, heavy industry, and blue-chip shares. This upbeat start came despite a mixed finish on Wall Street overnight. The benchmark Korea Composite Stock Price Index (KOSPI) rose 23.05 points, or 0.83 percent, to 2,793.89 in early trading. The market built on Wednesday’s 2.66 percent surge, which followed the inauguration of President Lee Jae-myung. Lee's election came after the ousting of former conservative President Yoon
June 5, 2025 -
S. Korea's economy shrinks 0.2 pct in Q1, unchanged from earlier estimate: BOK
The South Korean economy contracted 0.2 percent in the first quarter of this year, unchanged from an earlier estimate, central bank data showed Thursday, due mainly to a domestic political crisis and uncertainties stemming from U.S. President Donald Trump's administration's aggressive tariff scheme. The country's real gross domestic product (GDP) -- a key measure of economic growth -- contracted 0.2 percent in the January-March period from three months earlier, which marked the first negative gr
June 5, 2025 -
AmCham welcomes President Lee Jae-myung, vows stronger Korea-US business ties
The American Chamber of Commerce in Korea on Wednesday released an official statement congratulating Lee Jae-myung on his election as the 21st president of the Republic of Korea. AmCham expressed optimism that under President Lee's leadership, Korea will enter a new phase of economic growth and innovation. With both Korea and the United States undergoing significant political transitions, AmCham emphasized the importance of deepening bilateral economic cooperation. “On behalf of the US business
June 4, 2025 -
BOK vows close monitoring of inflation amid US tariff uncertainty
Inflation is projected to remain stable throughout the year, but close monitoring is required due to such risk factors as volatility in the foreign exchange market and global oil prices amid uncertainties stemming from the United States' aggressive tariff scheme, the central bank said Wednesday. Bank of Korea Deputy Gov. Kim Woong made the assessment during a meeting to review price trends, following government data that showed consumer prices gained 1.9 percent from a year earlier in May. It wa
June 4, 2025 -
Consumer prices rise 1.9% in May; fall below 2% for 1st time in 5 months
South Korea's consumer prices grew at the 1 percent level for the first time in five months in May on falling oil prices, although a weaker local currency continued to raise the cost of imported goods, government data showed Wednesday. Consumer prices, a key gauge of inflation, gained 1.9 percent from a year earlier last month, according to the data from Statistics Korea. Consumer inflation had remained above the Bank of Korea's 2 percent target for four consecutive months through April before s
June 4, 2025