The Korea Herald

Earnings forecast for listed firms worsens on global woes

Oct 2, 2011

SEOUL, Oct. 2 (Yonhap) -- The outlook for listed companies' 2012 earnings is rapidly taking a turn for the worse as the global financial crisis is feared to dent their performances, a report showed Sunday.At the end of last month, local securities companies put the combined operating profit of 65 ma
National debt expected to rise by over 25 tln won in 2012

Oct 2, 2011

SEOUL, Oct. 2 (Yonhap) -- South Korea's national debt is likely to rise by more than 25 trillion won (US$21.1 billion) in 2012 from this year due to an increase in state bond issues, a government report showed Sunday.According to the report by the finance ministry, the country's national debt is est
S. Korea signs anti-counterfeiting agreement

Oct 2, 2011

SEOUL, Oct. 1 (Yonhap) -- South Korea on Saturday joined a multilateral accord aimed at combating counterfeiting and piracy of intellectual properties, Seoul's trade ministry said.A group of 11 parties have been in negotiations over the agreement, but eight countries, including Japan, the U.S., Sing
Korea's trade surplus shrinks to $1.44 bln in Sept.

Oct 1, 2011

South Korea's trade surplus shrank significantly from a year earlier in September as imports grew faster than exports, the government said Saturday.The country's trade surplus reached US$1.44 billion last month, down from $4.41 billion in the same period last year, according to the Ministry of Knowl
Korea August output suggests slowing growth

Sept 30, 2011

South Korea's industrial output rose at a slower than expected pace in August, official figures showed Friday, as the uncertain global economic outlook took its toll on local manufacturers.Output rose 4.8 percent from the same month a year earlier, compared with an average forecast for 7.0 percent g
Korea‘s population aging faster than advanced nations

Sept 29, 2011

More than one out of 10 people in South Korea were aged 65 or older last year, data showed Thursday, indicating the nation is aging at a faster pace than other major advanced nations.According to the data provided by Statistics Korea, the number of people in the senior age group came to 5.36 million
Minister resigns over power cuts

Sept 27, 2011

Minister of Knowledge Economy Choi Joong-kyung informed the president of his intention to step down on Tuesday, the ministry said.According to the Ministry of Knowledge Economy, Choi expressed his intention to step down to President Lee Myung-bak after the cabinet meeting Tuesday morning and hand in
Job creation takes center stage in budget

Sept 27, 2011

Global economic uncertainty may threaten job-driven growth planThe South Korean government has mapped out its 2012 budget plan aimed at creating jobs, in the hope it will bolster welfare and economic growth and ease the impact of global uncertainties.The budget proposal, to be submitted to the Natio
Korean won worst performer among major currencies

Sept 27, 2011

SEOUL, Sept. 27 (Yonhap) -- The South Korean currency fell more than 12 percent to the U.S. dollar in September compared with two months ago on the global recovery woes, making it the worst performer among major 21 currencies, data showed Tuesday.The Korean unit closed at 1,195.80 won per dollar on
Korea's sovereign debt index worsens on financial turmoil

Sept 25, 2011

Korea’s sovereign default risks went up last week as the Korean won and the main stock index confronted a selling spree amid growing concerns over the country’s wobbly financial market battered by the deepening fiscal crisis in Europe. The spread on credit default swaps, or CDS, for South Korea
Bahk urges bold, swift action to avert new crisis

Sept 24, 2011

WASHINGTON (Yonhap News) -- South Korea's top economic policymaker called Friday for advanced economies to take a more“aggressive, systematic and balanced” approach, based on strong political commitment, to improve fiscal conditions and avert a global financial crisis.“A big worry now is that the cu
Honduras to seek FTA with Korea: trade minister

Sept 23, 2011

The Republic of Honduras will push to establish a free trade agreement with Korea, Honduran Trade Minister Jose Francisco Zelaya said Friday.“Honduras and Korea has one trade agreement in place, but we want to take the relations to the level of free trade agreement,” Zelaya said at a press conferenc
Foreign capital outflow top concern for S. Korea: regulator

Sept 22, 2011

SEOUL, Sept. 22 (Yonhap) -- South Korea's top financial regulator said Thursday the potential outflow of foreign capital is the biggest concern for the South Korean economy, which is highly vulnerable to external uncertainties. "The rapid outflow of foreign capital is the area we are most worried ab
Korea to face slower growth on global woes

Sept 21, 2011

SERI: Dormant global economy will drag down growth to 3.6%Samsung Economic Research Institute on Wednesday said the Korean economy would grow at a slower pace of 3.6 percent next year on dormant global economic conditions.The world economy would also show slower growth of 3.5 percent nex
Customs seizes W42b of fake designer goods

Sept 21, 2011

Five suspected members of a South Korean smuggling ring have been arrested on suspicion of producing and selling counterfeit designer goods worth 42 billion won ($36.7 million), the country’s customs office said Wednesday.One person was held in custody and four booked without detention on charges of