South Korea's business environment ranking has risen to fourth place among 189 countries on improvements in property registry, contract enforcement and minor investor protection, a report by the World Bank showed Wednesday.According to the international institution's annual "Doing Business 2016" ranking report, the ranking represents a one-notch rise from South Korea's standing a year earlier.The World Bank evaluates overall business conditions by applying so-called case scenarios in 10 specific

The government will inject an extra 9 trillion won ($7.95 billion) into the local economy in the fourth quarter to keep alive the growth momentum generated in the past few months, the finance ministry said Tuesday.In a meeting of economy related ministers chaired by Finance Minister Choi Kyung-hwan in Seoul, policymakers said every effort will be made to generate sustainable domestic demand by take advantage of excise tax cuts, a rise in household income and aggressive fiscal spending measures.A

Consumer sentiment in South Korea improved in October for the fourth consecutive month, with better outlooks for income and spending, central bank data showed Tuesday.The consumer sentiment index for October came to 105, gaining 2 points from the previous month, according to the data from the Bank of Korea.A reading above 100 indicates optimists outnumber pessimists.The index has been on a steady rise since it dipped to 99 in June, slipping below the benchmark 100 for the first time since Januar

The government will buy 590,000 tons of locally produced rice this year to help stabilize the market price of the staple grain, the farm ministry said Monday.The amount represents an increase of 200,000 tons from the original plan announced in early September that called for 360,000 tons to be set aside as part of the country's strategic reserves, and 30,000 tons to be pledged to the ASEAN Plus Three Emergency Rice Reserve, the Ministry of Agriculture, Food and Rural Affairs said.The extra 200,0

South Korean households are continuing to set aside more cash than before, data showed Monday, even though they can now expect less interest on their savings with the base rate staying at a record low.According to data from the government and the Bank of Korea, the net savings rate for households came to 6.1 percent in 2014, up 1.2 percentage points from the previous year.The net savings rate represents the ratio of money set aside by households from their total disposable income. The rate had b

More than 20 percent of South Korean conglomerates' affiliates were found to be unprofitable and highly indebted last year, market data showed Monday, a revelation that comes amid the government's push to prevent any fallout on the economy from their sudden collapse.The number of "zombie companies," which can't generate enough operating profit to pay taxes and interest payments or require constant bailouts, reached 236, or 22.5 percent, of the 1,050 affiliated companies of the top 30 business gr

Global economic think tanks and investment banks are predicting South Korea's growth to slide to the upper 2 percent range in 2016 due to slumping exports and weak domestic demand, financial market sources said Monday.The latest monthly Consensus Economic report showed overseas think tanks and IBs expect Asia's fourth-largest economy to grow at an average rate of 2.9 percent next year, down from a 3.2 percent estimate forecast in September. The average growth projection is lower than the 3.3 per

Construction permits issued for new homes surged more than two-fold in September to the year before, the government said Sunday, a strong sign of recovery in the country's real estate market.The number of new home permits issued came to 87,955 units last month, up 133.1 percent from 37,726 from the year earlier, according to the Ministry of Land, Infrastructure and Transport.September marked the ninth consecutive month of on-year increase, with the pace accelerating from a 41.2 percent spike tal

The number of South Korean tourists to Japan has hit an all-time high this year as the yen's continued weakness makes travel to the neighboring country cheaper, industry data showed Sunday.A total of 2.86 million South Koreans visited Japan in the first nine months of the year, up a whopping 43.1 percent from the same period a year earlier, according to the data by the state-run Korea Tourism Organization.The tally already has surpassed the previous full-year record of 2.6 million set in 2007.In

South Korea's economy expanded 2.6 percent in the July-September quarter from a year earlier, the fastest annual clip in three quarters, the Bank of Korea said Friday, showing a recovery from the Middle Eastern respiratory syndrome crisis that gripped the country in the summer.The result was better than expected. Asia's fourth-largest economy took a hit after a deadly outbreak of MERS in the country, prompting tourists to cancel trips and keeping local residents away from shopping malls and conc

South Korean stocks traded 1.38 percent higher late Friday morning on hopes for additional stimulus measures by the European Central Bank (ECB) and better-than-expected domestic growth data. The benchmark Korea Composite Stock Price Index (KOSPI) vaulted 26.79 points to 2,049.79 as of 11:20 a.m.Stocks across the board rose after ECB chief Mario Draghi said Thursday that the bank will consider bolstering its bond-buying program this year, sending European and U.S. stocks higher.SK Innovation, the

South Korea's economic growth reached a five-year high in the third quarter thanks to a strong rebound in domestic demand, central bank data showed Friday.The economy grew 1.2 percent on-quarter in the July-September period, the first time in five quarters that growth exceeded the 1 percent mark, according to the preliminary data by the Bank of Korea.This is the highest reading since 1.7 percent growth tallied in the second quarter of 2010.Consumer spending has rebounded as the impact of the Mid