SEJONG -- A large number of female workers in South Korea worked at restaurants and food catering businesses in the second half of last year while the retail sector hired mostly male workers, a report said Tuesday.A total of 1.35 million women were hired by various eateries in the last six months of 2017, slightly more than the 1.32 million female workers in the country's retail sector, according to the report by Statistics Korea.Some 1.27 million were in the educational service business and 886

WASHINGTON -- South Korea and the United States have made progress on the final details of a revised free trade agreement before a formal signing after they agreed in principle on major issues last month, Seoul's commerce minister said Monday (local time).Paik Un-gyu, minister of trade, industry and energy, made the remark during his weeklong visit to the US, where he met with senior American policymakers and business people, including Commerce Secretary Wilbur Ross and US Trade Representative R

Concerns over the possibility of capital outflow amid a widening gap between interest rates in Korea and the US are being eased by the strengthening of the won against the dollar.Earlier this month, the Bank of Korea held steady its key rate at 1.5 percent despite a decision by the US Federal Reserve in March to raise its policy rate by a quarter percentage point to a range of 1.5 percent to 1.75 percent.A weakening increase in consumer prices, growing household debt and worsening conditions for

The top financial regulator has called on financial affiliates of family-run business conglomerates, or chaebol, to map out plans to sell their stocks in non-financial affiliates. The remarks by Financial Services Commission Chairman Choi Jong-ku on Friday were seen as a veiled warning to Samsung Life Insurance Co., which holds an 8.27 percent stake in Samsung Electronics Co.Lawmakers proposed a bill that bans insurers from holding a more than 3 percent stake in non-financial affiliates. If the

South Korean washer exports to the United States plunged 45.4 percent on-year as safeguard measures took effect, an international traders organization here said Sunday.The data released by the Korea International Trade Association  showed outbound shipments standing at around $30 million in the first three months of 2018 compared to $55 million a year earlier.Under the safeguard measure that took effect on Feb. 7, 20 percent tariff have been slapped on the first 1.2 million imported washers

South Korea's job growth has remained anemic in recent months despite the national economy showing signs of a recovery with robust exports, according to data on Sunday.The South Korean economy added about 112,000 new jobs in March and 104,000 new jobs in February, the data by Statistics Korea showed.It is the first time in almost two years that the number of new jobs remained at the 100,000-mark for two consecutive months.South Korea's exports rose 6.1 percent in March from a year earlier, thank

Economic chiefs of South Korea and the United States agreed to strengthen their policy coordination at a time when inter-Korean relations are facing a dramatic turn, Seoul's finance ministry said Sunday.South Korean Finance Minister Kim Dong-yeon held a meeting with his US counterpart Steven Mnuchin in Washington on Saturday on the sidelines of the G-20 finance ministers and central governors meeting.They shared the view that it is a critical time for the two countries to engage in close policy

Small and medium enterprises should take center stage in fueling future growth in the two Koreas once cross-border tensions recede, a local think tank said Sunday.According to a report by the Korea Small Business Institute, the Moon Jae-in administration needs to give priority to SMEs in its new economic roadmap for the Korean Peninsula.It added that Seoul should get ready to restart bilateral economic cooperation, which has been halted in the face of North Korea's nuclear ambitions."This i

South Korea's chief economic policymaker warned Friday that rising trade protectionism by major countries poses risks to global economic growth, calling for concerted efforts to promote free trade.Finance Minister Kim Dong-yeon made the remarks during a meeting of finance ministers and central bankers from Group of 20 advanced economies in Washington. They gathered for the annual meeting of the International Monetary Fund and World Bank."Protectionism will worsen the existing trade disputes

BEIJING -- South Korea and China on Friday held their first high-level economic cooperation meeting in two years following an improvement of bilateral ties damaged by a diplomatic feud over a US missile defense system deployed in the South.The two sides reaffirmed their commitment to closer economic and trade cooperation at the 22nd joint South Korea-China economic committee meeting in Beijing."I have high hopes for this meeting, since it is being held at this critical time for the two coun

South Korea will take proactive measures to boost exports to maintain growth momentum despite rising protectionist policies by major trading partners and uncertainties in the global financial market, the government said Friday.The Ministry of Trade, Industry and Energy expected export growth to slow this month due to sluggish demand for ships, vehicle and auto parts. "The export outlook is not favorable for April due to protectionist measures in major trading partners, the strengthening loc

South Korea's chief economic policymaker discussed currency market-related issues, such as how to reveal records of its market interventions, with the International Monetary Fund, the finance ministry here said Friday.Seoul said earlier that the country is considering the detailed disclosure of its interventions in the foreign exchange market as part of a broader move to boost transparency and clear itself of suspicion of exercising undue influence on exchange rates.South Korea's financial autho

Bank loans for rent payments in March increased 40 percent from the same period a year ago, data showed Friday, likely a side effect from the tightening of mortgages.Rent loans by the country's five leading commercial banks measured 50.77 trillion won ($47.8 billion) at end-March, up 3.61 percent from the previous month. The total is a jump of 40.99 percent from the same month last year. Comparatively, loans for rent came to 25.66 trillion won in March 2016 and rose to 30 trillion won in August

Prime Minister Lee Nak-yon urged opposition parties Thursday to normalize the National Assembly and approve a supplementary budget the government proposed earlier this month in an effort to create more jobs for young people.The National Assembly has been idling despite the opening of an extraordinary session on April 2 as opposition parties have boycotted the session, demanding the ruling Democratic Party agree to pass a Broadcasting Act revision aimed at increasing opposition oversight of publi

A peace treaty that would finally end the 1950-53 Korean War, one of the growing prospects for the upcoming cross-border summit next week, may also end the chronic "Korea discount" in the stock market, analysts said Thursday.South Korean President Moon Jae-in will meet North Korea's top leader Kim Jong-un on the southern side of the truce village Panmunjom on April 27. It will be the third such inter-Korean summit, and Seoul and Washington have indicated that a peace treaty could be an