A shadow of global recession looms over key economies as major markets have been dealing with some of their worst days in recent weeks. This is sparking concerns that chances of recession may also be growing on home turf, in South Korea. Last week, the yields on US 10-year Treasurys fell below two-year yields for the first time since 2007 – a phenomenon known as an inverted yield curve. Investors and experts alike are regarding such trend with wariness -- every recession in the last 60 yea

Amid the ongoing boycott of Japanese products in the midst of the South Korea-Japan trade row, a Korean brand is gaining recognition for its “Yes. We are a Korean brand” campaign. Thavma, a luxury bag brand known for its simple designs, variety of colors, quality materials and reasonable prices, has succeeded in making itself stand out from other foreign name brands, according to industry sources. The most popular model is Christa.Thavma products are currently sold at the company&rsq

Samsung Electronics Co. was responsible for 20 percent of South Korea's total exports in the first half of this year, showing its heavy influence on the national economy, its financial report showed Sunday.  The South Korean tech giant raised 75.2 trillion won ($62 billion) in sales in the first six months of this year, with 86 percent coming from abroad, its semiannual report said.  The overseas revenue accounted for 20.6 percent of total exports of Asia's fourth-largest economy that

South Korea has notified Japan in advance of its plan to remove Tokyo from its list of trusted trading partners and is willing to talk with Japan further if needed, the trade minister said Saturday.South Korea decided on Monday to remove Japan from its "whitelist" of countries that receive preferential trade status amid a bilateral trade row sparked by Tokyo's July export curbs against Seoul and its subsequent removal of the South from a list of trusted buyers. "The governmen

South Korean banknotes and coins begin life at a factory in Gyeongsan, just outside Daegu. They are then transported to the Bank of Korea’s vault in Seoul, heavily guarded by armed security officers, to enter the money circulation cycle. In its lifespan as a medium of exchange, the banknotes and coins travel around at varying speeds, with some -- 1,000 won bills in particular -- changing hands numerous times before exiting circulation. However, some coins spend most of their time sitt

Trade Ministry posts notice on reclassification of trade partners which is likely to take effect in September

The number of jobs added reached the highest level in 18 months in July, attributable to a rise in employment in the health care, food and leisure-related industries, data from Statistics Korea showed Wednesday.The jobless rate was, however slightly up by 0.2 percentage point to 3.9 percent. also the highest for the same month in 19 years. A total of 27.38 million were employed in the country, up 299,000 from a year earlier.Overall, employment in the retail, wholesale and public sectors decrease

Experts decode 54 years of trade ties with Japan, highlighting how South Korea’s economic growth is affecting the dynamics from vertical to horizontal

Seoul eyes massive spending for infrastructure to revitalize economySouth Korea's finance minister said Wednesday the government plans to spend a whopping 16.5 trillion won ($13.5 billion) on social infrastructure projects this year, in a bid to revitalize the economy, which has been losing steam due to falling exports. Government infrastructure spending over the July-Dec. period is to include 5.1 trillion won on public housing projects and 5.2 trillion won on railroads, according to Hong Nam-ki

The number of new jobs in South Korea rose to their highest in 18 months in July on the back of a rise in employment in the health care, food and leisure-related sectors, with the jobless rate up slightly to 3.9 percent, government data showed Wednesday.  The number of employed people in Asia's fourth-largest economy came to 27.38 million, up 299,000 from a year earlier, according to the data from Statistics Korea.   It was the highest on-year leap since the 334,000 increase

South Korea's jobless rate reached 3.9 percent in July despite nearly 300,000 new jobs added, government data showed Wednesday. The unemployment rate increased 0.2 percentage point from the same month last year, according to the data from Statistics Korea.The unemployment rate marks the highest for the same month in 19 years.The number of employed people came to 27.38 million, up 299,000 from a year earlier. (Yonhap)

State-run aT had considered withdrawing Sept. fair amid trade war: official

South Korea's trade ministry on Tuesday urged a group of five Central American countries to implement a free trade agreement with Seoul.Early this month, South Korea's parliament ratified the pact with the five countries -- Costa Rica, El Salvador, Honduras, Nicaragua and Panama.Among the five, Nicaragua has completed its domestic procedures, paving the way for the FTA implementation in October, according to the trade ministry here. Four other countries are expected to implement the free trade d

South Korea will adopt a controversial scheme to cap presale prices of privately built apartments in extended efforts to stabilize real estate markets, the land ministry said Monday. The ministry said the government plans to revise related laws by early October to fully prepare for the adoption of the "presale price cap system" for apartments to be built by private builders amid signs of home prices turning higher, according to the Ministry of Land, Infrastructure and Transport.The upc

South Korea on Monday decided to remove Japan from its trusted trading partners, upping the ante in the trade haggling sparked by the neighboring country's export restrictions against Seoul.  The trade ministry said it will revamp its export list into three groups of trading partners from the current two, placing Tokyo in the newly established bracket, according to the Ministry of Trade, Industry and Energy. Tokyo had been on Seoul's top-tier list of 29 countries subject to preferential exp