Korea’s exports jumped by 3.1 percent in March 2024 compared to the same month of 2023. The nation marked the sixth consecutive month of positive exports. Semiconductor exports also hit a 24-month high.The Korean Ministry of Trade, Industry and Energy (MOTIE) announced March export and import statis
The amount of debts owed by households and businesses in Korea was more than twice Korea’s gross domestic product (GDP). About half of the nation’s companies were unable to pay even interest on their debts with money they earned from sales, revealing their vulnerability.The ratio of private credit t
Korea’s export value index rose for the fifth consecutive month in February thanks to a recovery of the semiconductor industry. Export value is the current value of exports converted to U.S. dollars and expressed as a percentage of the average of the base period (2000). Semiconductor exports are sho
Despite a sluggish construction industry, corporate sentiment in the economy has rebounded slightly for the first time in three months, attributed to the recovery in semiconductor exports.According to the survey results of the Business Survey Index (BSI) and Economic Sentiment Index (ESI) for March
For the first time since the onset of the COVID-19 pandemic, the Export-Import Bank of Korea (Korea Eximbank) is preparing to establish its first overseas office in Poland, marking its initial foray into the country. The recent amendment to the Export-Import Bank of Korea Act has created the opportu
The 17-year trend of Japan’s persistent negative interest rates has come to an end, yet the market’s response remains tepid. This is attributed to assessments indicating difficulty in perceiving a full-fledged tightening. However, there are prospects suggesting that the yen may strengthen from the s
Taiwan’s stock market has reached an all-time high, propelled by the surge in Taiwanese technology stocks, including TSMC, amid the global semiconductor boom. The narrowing gap in market capitalization with the domestic stock market has narrowed to approximately US$4 billion.According to the Taiwan
On March 21, the KOSPI index closed at 2,754.86, marking a significant increase of 64.72 points, or 2.41 percent, compared to the previous day’s closing.The KOSPI started at 2,731.18, up 41.04 points, or 1.53 percent, from the previous day’s closing, and it rose to 2,755.45 at one point during the t
While domestic demand including consumption continues to remain weak, exports, which have been driving up Korea’s economic recovery, are also facing a threat on the account of a slump in exports to China. Exports to China grew by more than 16 percent in January this year, snapping a 19-month streak
It is forecast that both the economically active population and the employed population will enter a declining trend starting from 2028. To sustain economic growth, it is analyzed that an additional workforce of up to 900,000 people will be needed by 2032.On March 19, the Korea Employment Informatio
As the Bank of Japan (BOJ) has embarked on its first interest rate hike in 17 years, it is anticipated that the strengthening of the yen due to the lifting of Japan’s negative interest rates could have a positive impact on domestic exports such as semiconductors, automobiles, and shipbuilding. Howev
South Korea’s current account remained in surplus for the ninth consecutive month thanks to strong semiconductor and automobile exports.According to provisional statistics on the balance of payments released by the Bank of Korea (BOK) on March 8, the nation’s current account surplus stood at US$3.05
The government is taking steps to solicit opinions from overseas financial institutions and investors regarding measures to improve the foreign exchange market structure and support corporate value-up initiatives.The Ministry of Economy and Finance (MOEF) announced on March 10 that Shin Joong-beom,
The Korean government will launch the Top 10 Promising Markets Trade Mission, which will lead strategic market exploration to help the country achieve US$700 billion, the largest ever, in exports this year,.The Ministry of Trade, Industry and Energy (MOTIE) announced on Mar. 5 that it will send the
Last year, South Korea’s gross national income (GNI) per capita reached US$33,000, marking a rebound for the first time in a year. The annual real gross domestic product (GDP) growth rate was recorded at 1.4 percent.According to the “2023 Preliminary 4th Quarter and Annual National Income” report re
The Hyundai Research Institute (HRI) has forecasted that the South Korean economy will enter a recovery phase after passing its lowest point this year.According to a report titled “Now is an Important Time to Form an Early Economic Cycle Bottom” released by the HRI on March 3, there is a high possib
South Korea’s exports in February of this year increased by 4.8 percent compared to the previous year, continuing the trend of “export growth” for the fifth consecutive month. Particularly noteworthy is the semiconductor exports, which recorded the highest growth rate in six years and four months. A
For four consecutive years, South Korea has maintained its position as the top country among 34 advanced and emerging markets worldwide in terms of household debt relative to gross domestic product (GDP). As of the end of last year, the ratio stood at 100.1 percent, slightly lower than the previous
The trend of improved terms of trade in South Korea has continued for the eighth consecutive month. This is attributed to the slowdown in the decline of export prices, which has resulted in import prices decreasing more significantly than export prices.Exports of semiconductors, the largest export i
The government has come up with a detailed blueprint at the inter-ministerial level, encompassing export targets for key items such as semiconductors, automobiles, and plants, to achieve this year’s export goal of US$700 billion. It includes the largest-ever support measures to accelerate progress,