South Korea's M2 money supply continued to expand in October, but the rate of the growth slowed from the previous month ahead of an anticipated U.S. rate hike, central bank data showed Wednesday.  The M2 reached 2,235.8 trillion won ($1.89 trillion) in October, inching up 0.1 percent from the previous month, according to the Bank of Korea.  The October reading marks an 8.8 percent rise from the same month last year, compared with a 9.4 percent on-year increase in September that marked the fastes

Household loans extended by local lenders continued to rise at a fast rate last month, but the rate of growth slowed from a month earlier ahead of an imminent U.S. rate hike, central bank data showed Wednesday.  As of the end of November, outstanding household loans extended by local banks totaled 632.3 trillion won ($536.3 billion), up 7.6 trillion won from the month before, according to the Bank of Korea.  The rise marks a slowdown from October, when outstanding household loans gained 9 trilli

Japan has agreed to raise its quota for South Korean laver imports by more than twofold over the next 10 years that will create new demand for local producers, the government said Wednesday.  The Ministry of Oceans and Fisheries said under a new agreement reached with its Japanese counterpart, the quota will be raised 225 percent from 1.2 billion sheets this year to 2.7 billion sheets in 2025.  This translates into exports rising 150 million sheets every year in the next decade, it said.   The m

Korea will front-load 68 percent of spending in its 2016 budget, as Asia’s fourth-largest economy is expected to grow slower next year amid bleak global trade outlook, the Finance Ministry said Tuesday. According to the plan, endorsed at a Cabinet meeting earlier in the day, the government will aim to complete 40.1 percent of expenditure for public projects earmarked in the budget by the end of March, worth 128 trillion won ($108.7 billion), and 68 percent, or 224 trillion won, by the end of Jun

China's central bank approved a South Korean plan to issue yuan-denominated foreign exchange stabilization bonds in the world's No. 2 market, the government said Tuesday.  The finance ministry said the People's Bank of China approved the issuing of upwards to 3 billion yuan ($463 million) worth of bonds.  This is the first time Beijing has approved the floating of yuan-based bonds by a foreign government inside China, and it follows a visit by Chinese premier Li Keqiang to Seoul on Oct. 31, the

Loans extended to households by local lenders and other financial institutions rose at a faster rate in October than a month earlier amid a continued rise in demand for mortgages, central bank data showed Tuesday.  Outstanding household loans by commercial banks and savings banks came to 792.4 trillion won ($674.9 billion) as of end-October, up 11.8 trillion won from the previous month, according to the preliminary data from the Bank of Korea.  The October tally marks an 8.5 percent increase fro

Neither the U.S. government nor the International Monetary Fund view South Korea as a currency manipulator, and the issue is unlikely to affect economic relations between the two countries, the Korea Society president said Monday.  Thomas Byrne, an economics expert who has been leading the Korea Society since August, made the remark during a meeting with South Korean correspondents in Washington, pointing out that the large current account surplus Korea is enjoying now is not because of increase

President Park Geun-hye on Monday pledged to complete her reform drive, stressing that it would create a new environment for Korean exporters facing both internal and external challenges.　In a speech delivered at the annual Trade Day, Park also urged to foster start-up exporters and industrial convergence with information technology in order to improve the nation’s trade competitiveness.　“(The government) will improve the country’s trade competitiveness and strengthen the economy by wrapping up

The South Korean economy is forecast to grow 2.5 percent next year, unchanged from this year's growth projection, mainly due to a protracted slump in exports, a Nomura economist said Monday.  "South Korea's economic growth will likely remain at 2.5 percent for both 2015 and 2016, and at 2.7 percent in 2017," Kwon Young-sun, a senior economist at Nomura International, said in a media briefing in Seoul.   "Its growth rate will miss the country's expected potential growth of 3.2 percent."  Nomura's

The Ministry of Strategy and Finance said Sunday that Korea would increase its current 0.221 percent stake in an investment unit of the Inter-American Development Bank to 4 percent. 　This will make Korea the seventh-largest global shareholder, and the second-largest nonregional shareholder after China at 4.5 percent, of NewCo., a soon-to-be launched development finance institution under the Washington-based IDB for private sectors.  　“We could secure larger stakes than we had expected, thanks to

The South Korean economy is maintaining a modest pace of growth on the back of a rise in domestic demand and corporate investment, a state-run think tank said Sunday.In its latest monthly economic trends report, the Korea Development Institute said consumption and business investment are on the mend along with consumer confidence."Overall, the lowering of excise taxes has spurred domestic demand that has been the driving force behind recent growth," the report said. "The construction sector is c

Foreign investment banks predict South Korea's exports to remain sluggish down the road due to continued unfavorable conditions, weighing down on the growth of Asia's fourth-largest economy, a report showed Sunday.According to the report by the Korea Center for International Finance, Barclays, Nomura, Citigroup and other foreign investment banks have forecast South Korea's overseas shipments not to recover from their slump for the time being because of such negative factors as a drop in oil pric

South Korea's two-way trade is expected to again exceed the $1 trillion mark in 2016 thanks to a rebound in the global economy after a lackluster performance this year, a report showed Sunday.South Korea's trade volume will likely increase 4 percent on-year to $1.02 trillion next year on the back of the world economy's recovery, according to the report by Hyundai Research Institute.   South Korea's exports are projected to expand 3.9 percent in 2016 from this year, with its imports climbing 4.1