Korean sales-to-inventory ratio rising: data

Inventory of South Korean manufacturers has increased to its highest point in 10 years, data showed Monday, a likely sign of a dulled economy.Figures obtained from the Korea Center for International Finance and Statistics Korea put the inventory-to-sales ratio in December last year at 116 percent. The number is the highest since 122.9 percent in September 1998, when the country was struggling with the Asia-wide foreign exchange crisis. The ratio has been on the incline from late last year. After

Feb. 11, 2019

[News Focus] 9 provinces invigorated by brisk agricultural exports

SEJONG -- South Korea’s nine provinces are competing to step up outbound shipments of agricultural products amid growing demand from a variety of overseas buyers, including Southeast Asian countries.South Chungcheong Province is drawing particularly close attention since diversifying its export markets last year. Whereas until then the province had mainly focused on Hong Kong, Taiwan and the US, it has expanded its export destinations to include Singapore, Cambodia and Vietnam.According to

Feb. 10, 2019

[News Focus] Korea-China-Japan FTA still long way to go

SEJONG - The North American Free Trade Agreement is estimated to have much contributed to development of the commerce segment in the continent as one of the world’s main trade blocs.Though US President Donald Trump recently threatened to terminate the NAFTA contracts, expressing dissatisfaction with trade terms with Mexico and Canada, it is undeniable the three-member trade bloc has been a counterpart to the European Union.In Europe, apart from the EU there is the European Free Trade Assoc

Feb. 7, 2019

[Monitor] Apartment transactions in Seoul hit 6-year low

Apartment transactions in Seoul sank to a six-year low in January from a year earlier, according to data from the land administration department of the Seoul Metropolitan Government. The number of apartments sold in the capital city plunged to 1,857 last month, down 81.8 percent from 10,198 in January 2018 and the lowest level for the month since 2013. Real estate experts noted that with increased supplies of new houses in the midst of fortified anti-speculative regulations, the lease

Feb. 7, 2019

Korean exports expected to fall in 2019: observers

South Korean exports are forecast to decline in 2019, as outbound shipments contracted for two months in a row, economic organizations and observers said Wednesday.The poor export showings in December and January marked the first time in 27 months that shipments have fallen in consecutive months on an annual basis and are an indication of tougher times ahead for Asia's fourth-largest economy, experts here said. Data by the Korea Customs Service showed exports down 5.8 percent from a year earlier

Feb. 6, 2019

Sources of funding still unclear for KEPCO’s university

The state-run Korea Electric Power Corp., which is currently seeking to open its own university in South Jeolla Province in 2022, is expected to face hurdles in opening on time amid financial and administrative challenges, industry watchers said Monday.In January, KEPCO selected the Booyoung Country Club golf course in Naju, 355 kilometers south of Seoul, as the site of the planned university.Under KEPCO’s vision, the university will have some 1,000 students and 100 professors, with the op

Feb. 4, 2019

Korea puts forth new ways to support new media startups

The Korean government is often referred to as an obstacle for startups here due to the heavy red tape. However, state-run Gyeonggi Content Agency is trying to buck that trend by supporting media startups that are trying to create new contents that can offer alternatives for newspapers, magazines and books. Last week, GCA launched its fifth G-hub in Goyang City, Gyeonggi Province. It has opened four such hubs over the past four years. “In the fourth industrial revolution era, media contents

Feb. 4, 2019

Korean currency weakens to over 2-year low against yen in Jan.: data

The Korean currency weakened to an over two-year low against the yen last month as concerns about a global economic slowdown prompted investors to search for safer assets, central bank data showed Sunday. The local currency was traded at an average of 1,030.57 won per 100 yen in January, down 31 won from the previous month, according to the Bank of Korea.The January reading marked the lowest level since November 2016, when the won hit 1,076.82 against 100 yen.The US dollar serves as the ben

Feb. 3, 2019

S. Korean gov't contribution to GDP growth hits nearly 20-year high in Q4

The contribution of government spending and investment to South Korea's economic growth reached a nearly 20-year high in the fourth quarter of last year amid sluggish private consumption and production, central bank data showed Sunday.According to the latest data by the Bank of Korea, South Korea's gross domestic product grew a surprising 1 percent in the October-December period from three months earlier. It helped meet the BOK's target of a 2.7 percent expansion for the whole of 2018.In the fou

Feb. 3, 2019

Korea's default risk dips to lowest in 11 years: report

The possibility of South Korea defaulting on its credit loans has dipped to the lowest level in over 11 years, with its credit default risk shrinking to lower than those of other major economies such as China, Britain and France, the central bank said Saturday.According to the Bank of Korea, the country's Credit Default Swap premium on foreign exchange stabilization bonds with a five-year maturity came to 32 basis points, or 0.32 percent, as of Friday, down 9 basis points from 41 bp on Jan. 3.A

Feb. 2, 2019

Korean consumer prices rise 0.8% on-year in January

South Korea's consumer prices rose 0.8 percent in January from a year earlier as agricultural products stabilized and oil products fell, government data showed Friday.The reading represents a decline from the previous month's 1.3 percent on-year gain, according to figures released by Statistics Korea. It marked the lowest tally in 12 months. From a month earlier, the index fell 0.1 percent.Prices of agricultural, livestock and fishery goods rose 2.5 percent on-year in January, compared with a 5.

Feb. 1, 2019

Korea's exports fall 5.8% in Jan.

South Korea's exports moved down 5.8 percent in January from a year earlier, government data showed Friday, due mainly to weaker performances by chips and petrochemical goods. Outbound shipments came to US$46.3 billion for January, down from $49.2 billion posted a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.  It marked the second consecutive month to post an on-year drop.South Korea did not post an on-year decrease in exports for two straight m

Feb. 1, 2019

S. Korea’s industrial output, investments mark 2-month fall in December

South Korea saw a decline in both production and investment, marking two consecutive months of downtrend amid slowing exports of key sectors, government data showed Thursday.The country’s industrial output fell 0.6 percent in December from a month earlier, reflecting the decreased exports of automobiles and semiconductors, according to data compiled and released by Statistics Korea. The production of semiconductors and cars -- the two primary exports for Asia’s fourth-largest economy

Jan. 31, 2019

Korea's industrial output dips 0.6% on-month in December

South Korea's industrial output fell 0.6 percent in December from a month earlier due in part to decreased exports of cars and semiconductors, government data showed Thursday.The data compiled by Statistics Korea showed semiconductor output fell 4.5 percent in December from a month earlier as chip exports declined 5.9 percent during the same period.Production of cars declined 5.9 percent in December from a month earlier as overseas shipments of cars fell 10.5 percent during the same period.Semic

Jan. 31, 2019

[Monitor] Korea vows to create new innovative cities

The South Korean government has decided to promote specific business interests by city and region for the sake of balanced regional development, injecting some 56 trillion won ($50.1 billion) over the next five years.To this end, new business clusters and zones utilizing the latest technologies will be designated, the government said. (khnews@heraldcorp.com)

Jan. 30, 2019

Seoul studio apartment rent prices highest in December, lowest in April

The monthly rental price of one-room studio apartments in Seoul was highest in December and lowest in April last year, according to data released by South Korea’s real estate and housing listing site operator DaBang on Wednesday.The Seoul-based studio apartments under consideration were those less than 33 square meters in size, DaBang said. The results are based on monthly rent fees of 1 million studio apartments in Seoul that were listed on DaBang in 2018, after unilaterally fixing the de

Jan. 30, 2019

Korea to come up with measures to boost exports

South Korea's finance minister said Wednesday that the government will come up with measures next month to boost exports amid concerns that overseas shipments would contract in January from a year earlier.Hong Nam-ki said measures to revitalize exports have gained urgency as uncertainties have deepened over slowing global growth and trade frictions between the United States and China. Hong made the comments in a meeting with relevant officials on how to boost the economy at a government building

Jan. 30, 2019

Trade ministry to thoroughly prepare for Brexit uncertainties

South Korea's trade ministry said Wednesday it will thoroughly prepare for the anticipated departure of Britain from the European Union to minimize potential negative impacts on local exporters.The Ministry of Industry, Trade, and Energy hosted a seminar on the outlook of the European market to discuss ways to better prepare for Europe-related risks throughout 2019. The ministry said such preparations are needed as Britain plans to leave the EU, with looming protectionism and the planned impleme

Jan. 30, 2019

President Moon to meet economic advisers amid looming slowdown

President Moon Jae-in was set to hold a meeting with his top economic advisers Wednesday as his government is apparently struggling to keep the local economy from slowing down.The meeting will be held over lunch at the presidential office Cheong Wa Dae, attended by Moon's new special adviser for science and economy Lee Jeong-dong and the new vice chair of the National Economic Advisory Council, Lee Jay-min. The luncheon comes one week after the president appointed the two, but it marks a very ra

Jan. 30, 2019

Korea to start exports of Kyoho grapes to Australia

South Korea's agricultural ministry said Wednesday it has won approval from its Australian counterpart to ship Korean Kyoho grapes there starting this year.The Ministry of Agriculture, Food and Rural Affairs said it has paved the way for South Korean farms to ship Kyoho grapes, which are normally larger than typical breeds, to Australia under a simple procedure. The ministry has been requesting Australia ease regulations in terms of quarantines since 2017.Starting this year, the grapes can be sh

Jan. 30, 2019