Home purchases are becoming increasingly unaffordable and prices and loan interest rates have reached their highest level in four year and three months, the Korea Housing-Finance Corp. announced Monday. 　In the first quarter of this year, the Korea-Housing Affordability Index rose to 59.3, a 0.4 percentage point increase compared to the previous quarter, according to data. The figure marks the highest average rate in more than four years since reaching 59.9 in the fourth quarter of 2012.　The K-

South Korean companies’ high hopes were struck down following President Moon Jae-in’s Thursday meeting with Chinese President Xi Jinping, as the two countries failed to strike an accord to cease China’s unofficial economic retaliation against South Korean companies regarding the controversial deployment of the Terminal High Altitude Area Defense.  　Korea’s relationship with China has hit its lowest point in years due to political and economic tension over the install

Amid drawn-out speculation over the future of the Korea-US Free Trade Agreement, the two countries have been voicing differing views regarding the mutual benefits of the bilateral trade deal, which has now reached its fifth year.  　US President Donald Trump is arguing that the current stipulations are unfair and is the reason for the country’s worsening trade deficit. Trump has referred to the KORUS-FTA as “unacceptable” and a “horrible deal,” suggesting the de

　Amid tense labor disputes, Hyundai Heavy Industries is speaking out against its labor union, arguing that members are distorting information related to the industry’s business conditions, such as shipbuilding orders and operating profits for the year.　The union recently claimed the company received orders for 62 vessels totaling $3.8 billion from January to May, five times more compared to the same period last year, according to the union’s news agency. Given the figures, members of the labor u

The Moon Jae-in administration’s new comprehensive macroeconomic blueprint will be announced later this month, according to Finance Minister Kim Dong-yeon on Tuesday. 　“The president, along with other officials, will hold a meeting to discuss the government‘s fiscal policies and strategies over the next five years sometime mid-July,” said the finance minister, during a policy meeting in Seoul with ministry officials, including the minister of land, infrastructure, transpo

The Korea-US summit in Washington last week finished with ambiguous statements from both sides as well as President Trump expressing his intent to renegotiate the current Korea-US Free Trade Agreement. In light of the circumstances, the Moon administration is expected to prepare a FTA task force for what is looking to be an intense economic showdown between the two nations.　President Moon Jae-in proposed the launch of a consultation task force to investigate, analyze and evaluate the impact of t

South Korean President Moon Jae-in flew back to Seoul on Sunday with a reaffirmed US alliance and renewed momentum to resolve the North Korea impasse, but he left open the controversial issue of Washington’s push to renegotiate a bilateral free trade agreement.　Upon their talks Friday, President Moon and his US counterpart Donald Trump each adopted different tones toward the Korea-US FTA, with Moon emphasizing their joint statement that did not include phrases regarding renegotiation and T

DAEJEON -- In an effort to appease a growing number of foreign parties and international patent cases tried in the country, the Patent Court of Korea on Wednesday held a test trial of an International Chamber case hearing adjudicated in English. 　According to the Patent Court, located in Daejeon, the demand for English-language trials has been repeatedly raised by international parties, who accounted for more than 40 percent of the 611 cases adjudicated by the court last year. 　The test trial, “