South Korea's exports are expected to have plunged by a whopping 25 percent in April from a year earlier, a poll showed Monday, as the new coronavirus pandemic has dealt a harsh blow to global trade and corporate activities. Outbound shipments are estimated at $36.4 billion this month, according to the poll by Yonhap Infomax, the financial news arm of Yonhap News Agency. The survey was carried out on nine local brokerage houses. The sharp decrease was also attributable to the falling global o

South Korea will offer more than $400 million to emerging nations this year to help them push for health projects against the novel coronavirus, Finance Minister Hong Nam-ki said Monday. Hong made the remarks at a meeting with economy-related ministers earlier in the day as South Korea seeks to share coronavirus information with the world. The money will be offered through the nation's Economic Development Cooperation Fund, Hong said. South Korea will also postpone debt payments worth $110 m

KCS’ prompt measures to stop overseas mask shipments contributes to nation’s stable supply

World Customs Organization expresses gratitude on KCS’ epidemic response road map

Kospi risks grow as small investors actively borrow from brokerages

South Korea's economy is expected to contract 0.3 percent this year, a private research institute said Sunday, as the coronavirus pandemic crippled economic activities worldwide. The forecast by Hyundai Research Institute, however, is higher than the International Monetary Fund (IMF), which has predicted that Korea's economy will shrink 1.2 percent this year as the global economy is expected to hit its worst year since the Great Depression of the 1930s over the pandemic. The world economy is

South Korea will provide international community its COVID-19-related technologies, ranging from the recognized test kits and “walk-thru” test booths, according to the country’s intellectual property agency. The Korean Intellectual Property Office on Friday expanded the range of the COVID-19 patent information navigation service of its webpage (https://www.kipo.go.kr/ncov) and also started to provide the English version of the uploaded information. Last month, KIPO kic

SEJONG -- South Korea posted a trade surplus of $16.4 billion with its free trade agreement (FTA) partners in the first quarter of the year, while posting a deficit with non-FTA partners, data showed Friday. Exports to FTA partners came to $96.3 billion and imports totaled $79.9 billion in the January-March period, with the trade volume inching down 0.1 percent on-year, according to the data compiled by the Korea Customs Service. South Korea registered the largest trade surplus of $10.5 billi

The government announced Thursday it will sell additional state bonds to finance blanket payouts for all South Koreans in a proposed coronavirus relief package. The finance ministry also said those who choose not to apply for the handout -- set up to help those in dire straits due to the COVID-19 pandemic -- or who donate their share will receive tax deductions. The ministry said political parties and the government have reached a consensus on this particular measure, designed to encourage

Economy contracts 1.4% in Q1, likely to log negative or zero-growth in 2020

Extended youth jobless rates stay above 20% since May 2017

South Korean listed firms' dividend payouts fell nearly 2.9 percent from a year earlier in 2019 amid sluggish earnings, the bourse operator said Wednesday. Combined dividend payments by 528 out of the 761 companies closing their books in December came to 20.7 trillion won last year, down 2.88 percent from the previous year, according to the Korea Exchange (KRX). The number of companies that paid cash dividends was down from the 545 recorded the previous year. Their average payout ratio, refe

The daily foreign exchange (FX) turnover by local and foreign banks in South Korea reached an all-time high in the first quarter of the year amid the coronavirus outbreak, central bank data showed Thursday. The daily FX turnover came to an average $59.37 billion in the January-March period, up 9.2 percent from the previous quarter, according to the data from the Bank of Korea (BOK). The amount marks the highest since 2008, when the central bank began tracking related data. The central bank s

Finance Minister Hong Nam-ki said Thursday the coronavirus pandemic is expected to have a bigger impact on the nation's economy in the second quarter, as the virus has crippled global supply chains and consumer demand. Hong made the remarks shortly after the Bank of Korea reported that South Korea's economy shrank 1.4 percent on-quarter in the first quarter of this year, marking the sharpest quarterly contraction since the fourth quarter of 2008. The first-quarter gross domestic product (GD

South Korea's economy shrank 1.4 percent on-quarter in the first quarter of this year, as the coronavirus pandemic crippled industrial output, consumer spending and job markets, the Bank of Korea (BOK) said Thursday. It marked the sharpest quarterly contraction since the fourth quarter of 2008, when the nation's economy sank 3.3 percent on-quarter. The first-quarter gross domestic product, however, was above market expectations. A survey conducted by Yonhap Infomax, the financial news arm of