With the second wave of COVID-19 outbreak fast approaching amid reinforced social distancing measures, pessimism is mounting once again on South Korea’s economic growth outlook this year. According to previously suggested scenarios by key global institutes and local think tanks, the country could see its economy contract as much as 2 percent. Some market watchers and the central bank, however, also warned against excessive fear and pessimism, claiming that the latest turnouts will not

The US Federal Reserve on Wednesday decided to keep its interest rates near zero, adding that it doesn’t expect to raise it until at least 2022, as the economy recovers from the repercussions of the novel coronavirus. As the Fed’s rate decision has fundamentally sent ripples across the global economy including South Korea in the past -- with the US being the world’s largest economy -- the latest move is also expected to have mixed effects on Asia’s fourth-largest econo

Despite pandemic impact, ASEAN countries remains lucrative for local lenders

Despite early virus containment, excessive optimism on recovery of export-driven economy still dangerous, experts say

Amid confidence building, massive capital flocking to stock market, authorities warn of ‘moral hazard’

Suspended hiring amid COVID-19 fear signals economy close to recession

The plunging crude oil prices may increase pressure on South Korea’s financial market with rising volatility forcing investors to secure cash, not to mention its negative impact on the economy. The sharp drop in oil prices in recent weeks has rattled the stock market, already reeling from the deepening coronavirus pandemic. Oil refining and chemical industries are bearing the brunt, not only from plummeting demand but also lackluster investor sentiment.  According to data of the

With deadline for payment coming and weaker won, local investment firms anxious over rising risks

Economists say rate cut not the key, more active monetary, fiscal policies needed

Calling COVID-19 pandemic impact ‘unprecedented,’ economists warn of potential credit crisis, urge authorities to find more room to intervene