Search Results | BusinessKorea

Friday, October 20, 2017

Search Results:

Russia expressed its will to proceed with the Rajin-Khasan Project in spite of economic sanctions on North Korea.

Amid Sanctions on N. Korea

19 October 2017 - 11:00am
Jung Suk-yee

Radio Free Asia reported on October 18 (local time) that Russia expressed its will to proceed with the Rajin-Khasan Project in spite of economic sanctions on North Korea.

The project is to use the Rajin-Khasan Railway and the Rajin Port in North Korea in exporting goods from Russia or transporting goods from Russia to Europe via the Trans-Siberian Railway (TSR).

Russia repaired the Rajin-Khasan Railway from 2008 to 2014 and has exported coal from Siberia to China and so on since then by transporting it to the port via the railway. Russia looked forward to South Korea’s...

read more
Moody’s maintained the credit rating for South Korea at Aa2.

National Credit Unchanged

19 October 2017 - 10:45am
Jung Suk-yee

Moody’s maintained its credit rating for South Korea at Aa2 and its credit rating outlook for the country at stable on October 18.

The credit rating agency changed the rating from Aa3 to Aa2 in December 2015 and South Korea has maintained the rating since then. Aa2 is the third-highest rating in the credit rating classification of Moody’s.

The agency explained that its decision was made based on South Korea’s robust economic recovery, fiscal soundness and transparent government systems. “Although the rapid aging of the population, corporate restructuring and its large...

read more
Medical isotope production at the Jordan Research and Training Reactor (JRTR)

18 October 2017 - 6:15pm
Jung Suk-yee

The Korea Atomic Energy Research Institute (KAERI) announced on October 17 that the Jordan Research and Training Reactor (JRTR) succeeded in producing medical isotopes and the isotopes have been supplied to the King Abdullah University Hospital.

The construction of the JRTR was completed last year after 82 months of efforts. The Jordanian government invested US$160 million in the project led by the KAERI and Daewoo Engineering & Construction, which were fully in charge of every step ranging from design to construction and test run.

The medical isotopes the KAERI and the...

read more
The total exports from South Korea increased 16.4% year on year to US$375.1 billion during the same period.

More than 16% Increase

18 October 2017 - 12:30pm
Jung Suk-yee

The Ministry of Trade, Industry & Energy analyzed WTO data and announced on October 17 that the global total commodity exports added up to US$10.5 trillion, up 9% from a year ago, for the first eight months of this year and the total exports from South Korea increased 16.4% year on year to US$375.1 billion during the same period.

The rate of increase in the exports from South Korea was the highest in the world during the period. It was followed by the Netherlands (12%), Japan (8.3%), Hong Kong (8.2%) and China (7.6%).

As a result, South Korea became the sixth-largest...

read more
Foreign investors net purchased 707.9 billion won (US$627.02 million) worth of bonds in the over-the-counter market this month.

Turning to Net Purchase

17 October 2017 - 2:45pm
Jung Suk-yee

According to the Korea Financial Investment Association on October 16, foreign investors, which left the South Korean bond market, are coming back again. Foreign investors, who showed the selling spree in the bond market in August and September, net purchased 707.9 billion won (US$627.02 million) worth of bonds in the over-the-counter market this month. This is because foreigners are making an investment in the domestic bond market again as geopolitical risks are reduced.

The problem is that foreigners still don’t show a firm inflow of investment. Interest rates on bonds are still...

read more
Korea’s ICT exports in September of this year were the highest-ever monthly record of US$19.26 billion, posting a 32.6% increase year on year.

Record High Export Repeated

17 October 2017 - 2:00am
Jung Suk-yee

The Ministry of Science and ICT and the Ministry of Trade, Industry and Energy (MOTIE) announced on October 16 that Korea’s ICT exports in September of this year were the highest-ever monthly record of US$19.26 billion.

The previous record was US$17.48 billion set last month, in August. So the new record replaced the previous record only in a month.

September ICT exports increased 32.6% year on year. This percentage is the highest growth rate since April 2010 (33.3%). ICT export growth rates have grown at double-digit rates year on year for about one year -- 15.7% in March,...

read more
The Korean ETF market is the largest in Asia and the ninth-largest in the world in terms of the number of listed issues.

Skyrocketing Trading Value

16 October 2017 - 11:00am
Jung Suk-yee

The Korea Exchange announced on October 15 that the total net assets of ETFs in South Korea, which had stood at approximately 340 billion won (US$in the early stage of the local ETF market in 2002, reached 30.4 trillion won on October 10 this year.

The average daily trading value of the local ETF market skyrocketed from 32.8 billion won to 876.7 billion won during the same period. Likewise, the number of ETF accounts jumped from 10,000 or so to 406,000 and the number of listed issues increased from four to 303.

According to the Korea Exchange, the South Korean ETF market is...

read more
South Korea’s ratio of foreign direct investment (FDI) to gross domestic product (GDP) ranked 23rd out of the 34 member countries of the OECD last year.

Low FDI-to-GDP Ratio

16 October 2017 - 10:45am
Jung Suk-yee

The Korea Economic Research Institute announced on October 15 that South Korea’s ratio of foreign direct investment (FDI) to gross domestic product (GDP) ranked 152nd out of 237 countries around the world and 23rd out of the 34 member countries of the Organization for Economic Cooperation and Development (OECD) last year.

The institute pointed out that the South Korean government needs to foster a business-friendly environment by means of deregulation and so on for South Korea to create more jobs by attracting more FDI.

Specifically, the FDI-to-GDP ratio of South Korea stood...

read more
Minister of trade, industry and energy Baek Woon-kyu answers questions from lawmakers during an audit of the Ministry of Trade, Industry and Energy by the National Assembly on Sept. 13.

Deliberate Ostracism

14 October 2017 - 3:30am
Jung Suk-yee

It has been found that even though China's economic retaliation against Korea for the deployment of the THAAD System was continuing, the Korean government judged that China’s retaliation violated rules of the WTO and the Korea-China Free Trade Agreement (FTA), but gave up using a card to complain to the WTO about it.

Under the circumstances, many lawmakers ran down the government, saying, “The government's responses were insufficient.” As even ruling party lawmakers criticized government trade authorities’ lack of ability to cope with China’s retaliation, mentioning estimated damage...

read more
South Korea’s foreign exchange reserves totaled US$384.67 billion as of the end of last month, showing a month-on-month decrease of US$170 million.

Foreign Exchange Reserves

13 October 2017 - 12:45pm
Jung Suk-yee

According to the Bank of Korea, South Korea’s foreign exchange reserves totaled US$384.67 billion as of the end of last month, showing a month-on-month decrease of US$170 million. Its forex reserves decreased for the first time in seven months.

“Although foreign exchange rate factors caused the foreign exchange reserves to slightly fall last month, the amount of the reserves is still the second-largest in history,” the central bank explained. The amount increased for six months in a row until August and increased by US$13.57 billion this year.

... read more

Pages

Copyright 2013 BusinessKorea Co., Ltd.
301 Samdo Building, 12-1
Yeoido-dong, Yeongdeungpo-gu
Seoul, Korea 150-010
Tel: +82-2-578-3220
Fax: +82-2-578-3224
Email: contact@businesskorea.co.kr

 
 

Web design by: