South Korea ranked fifth among the 35 Organization for Economic Cooperation and Development countries in the growth of food prices in the first quarter, OECD data showed Saturday. In the January-March period, Korean food prices jumped 3.9 percent from a quarter earlier, following Turkey with 9.7 percent growth, Latvia's 5.9 percent, the Czech Republic's 4.1 percent and Estonia's 4 percent, the d...

South Korea's rapidly aging society is expected to fuel growth in the country's agricultural and fisheries sector, and health care services, a local think tank said Sunday, calling on the country to better prepare for changes down the road. According to the report by the Korea Institute for Industrial Economics and Trade, the number of local households whose head is aged over 60 will jump from 2...

South Korea is expected to become the world's 15th largest producer of rice this year, a report by the United Nations food organization showed Sunday. According to the Food Outlook by Food and Agriculture Organization, South Korea is set to produce 4.1 million tons of rice this year, down 3.1 percent from 4.2 million tons in 2016. The total should be equivalent to 0.8 percent of all rice to be ...

South Korea's trade surplus with the United States has been on a steady decline for the past 13 months amid the Seoul government's efforts to reduce the imbalance, customs data showed Sunday. A trade surplus with the world's largest economy reached $915 million last month, more than halving from $2 billion tallied a year ago, according to the data compiled by the Korea Customs Service. The mont...

The number of applicants for “unemployment credit” has surpassed 300,000 in the past 10 months since its launch last August, said the National Pension Service Friday. The unemployment credit is a program for job-seekers in which the government pays up to 75 percent of their national pension fees. This enables the jobless to maximize the amount of pension they receive in the future since their u...

South Korean stocks closed at a record high Friday as investors' sentiment was boosted by receding global uncertainties, analysts said. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index advanced 18.12 points, or 0.77 percent, to 2,381.69. Trade volume was high at 511 million shares worth 7.1 trillion won ($6.32 billion), with gainers outnumbering losers 4...

South Korea is expected to face difficulty in achieving an annual economic growth of 3 percent in the coming years as consumption is crimped by the aging population and rising household debts, a Bank of Korea board member said Friday. Cho Dong-chul also voiced worries that the country's economy could move in the direction of the long-drawn slump seen by Japan in the 1990s. The central bank has ...

South Korean stocks traded higher late Friday morning, setting a new record during the session. The benchmark Korea Composite Stock Price Index (Kospi) shot up 19.92 points, or 0.84 percent, to 2,383.49 as of 11:20 a.m. The figure reached 2,384.21 at one point, setting a new record in terms of during-session numbers. Tech shares continued to gain ground, with Samsung Electronics advancing 2.66...

An upturn in global trade and exports has been helping the South Korean economy recover to some extent, but the gains are weighed down by flaccid domestic demand, including investment and private consumption, a government report said Friday. "The South Korean economy has been on a upside cycle thanks to a steady rise in outbound shipments, while the domestic side is showing weak signs of recover...

The combined net profit of 162 investment advisory firms in South Korea plunged 85 percent on year in the 2016 fiscal year, hit by a sharp decline in commission fees and new contracts, data showed Friday. Competition was intensifying among investment advisory firms while new contracts declined during the April 2016-March 2017 period, forcing them to cut commission fees, the Financial Supervisory...

South Korean stocks opened higher Friday on the back of strong gains in technology firms and steelmakers. The benchmark Korea Composite Stock Price Index advanced 8.65 points, or 0.37 percent, to 2,372.22 in the first 15 minutes of trading. Tech shares kicked off bullish, with Samsung Electronics rising 1.51 percent and SK hynix jumping 1.06 percent. LG Electronics moved up 2.07 percent. Steel...

South Korea‘s economy is expected to grow 2.6 percent this year and 2.8 percent next year, according to the Organization for Economic Cooperation and Development on Wednesday. This year’s forecast has remained unchanged, taking into account the country‘s improving exports and consumer sentiment. Next year’s forecast has been revised down from its initial projection of 3 percent seven months ago...

South Korean stocks closed slightly higher Thursday after trading nearly flat throughout the session as investors took to the sidelines amid a series of global events, analysts said. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index inched up 3.43 points, or 0.15 percent, to 2,363.57. Trade volume was moderate at 402 million shares worth 8.1 trillion won ...