In India, where global corporations and investors are focusing their attention as the “next China,” Mirae Asset Global Investments is gaining influence in the local market by surpassing 1 trillion won in assets under management (AUM) with its exchange-traded funds (ETFs).According to the asset manag
The Incheon Port Authority (IPA) has announced that as of Dec. 22, the container traffic at Incheon Port has surpassed 3.35 million TEU and is projected to approach a total of 3.45 million TEU. This figure is expected to set a new record high.Notably, the export performance of used cars is anticipat
South Korea recorded a trade deficit of US$9.97 billion last year, marking the second consecutive year of deficit since 2022. However, the trade deficit in the past year contracted compared to 2022 when it was US$47.78 billion, primarily due to the recovery in exports in the latter half of the year.
Debt, or credit, for both households and businesses surged to a historic peak, surpassing twice the gross domestic product (GDP) during the third quarter of this year. With an increasing number of businesses relying on non-banking institutions after the COVID-19 pandemic, coupled with a rising house
Last month witnessed a turnaround in domestic production and consumption with an increase, while investments declined for the second consecutive month.According to the “Industrial Activity Trends for November 2023” report released by Statistics Korea on Dec. 28, overall industrial production, exclud
South Korea’s exports will fall by 10% if the world’s major economies split into two groups and strengthen trade barriers against each other, according to a report. However, if Korea promotes export diversification, it will be able to significantly reduce adverse effects.According to the Bank of Kor
Recent data indicates that the number of mid-sized companies playing a crucial role as the “backbone” of the domestic economy increased by nearly 100 last year. Both the total revenue and operating profit of mid-sized companies saw an increase of around 10% compared to the previous year, and investm
A recent study has revealed that the debt of small business owners has increased more than their revenue on average.The Small and Medium Business Administration conducted a regular survey in 2022 targeting 65,000 small business enterprises. According to the results, the average annual revenue per bu
Indiscriminate attacks by Yemen’s Islamist Houthi rebels have forced major shipping companies to divert their routes around the Cape of Good Hope off the southern tip of Africa instead of the Suez Canal in the Red Sea, costing them up to US$1.5 million to US$2 million more in fuel costs per ship, ac
Italy will be scratched off the list of the world’s top 10 economies by 2038 with South Korea replacing it, according to the Center for Economics and Business Research (CEBR), a British think tank.According to a report by Bloomberg on Dec. 26, the CEBR continued its forecast that South Korea will be
The Financial Supervisory Service (FSS) is reportedly seeking a combined fine of 20 billion won (US$15.36 million) for BNP Paribas and HSBC, both of which have engaged in naked short selling. The FSS aims to impose an individual fine of 10 billion won on each of the financial institutions.Bloomberg
South Korea’s growing imports of secondary battery materials and intermediate goods from China were blamed for South Korea’s trade balance with China which is expected to post its first deficit in 31 years.According to the Bank of Korea (BOK) on Dec. 20, South Korea’s trade balance with China posted
Foreign currency deposits held by residents of South Korea have increased for the second consecutive month. The prolonged trend of a historically low value yen has led to a growing number of investors seeking to purchase yen at a favorable rate. Additionally, the increase in export earnings deposite
Recent data reveals that less than 1 percent of the South Korean population, specifically the top wealth holders, possess nearly 60 percent of the total financial assets of all households. Their combined financial assets amount to 2,747 trillion won (US$2.11 trillion), with real estate assets reachi
According to the Korea Securities Depository on Dec. 17, the cumulative settlement amount for the sale of foreign stocks by domestic investors has reached US$137.05 billion as of Dec. 14 since the beginning of this year. This figure surpasses the corresponding purchase settlement amount of US$135.97
Last year, the debt of the central and local governments, non-profit public institutions, and non-financial public enterprises in the public sector reached nearly 1,600 trillion won (US$1.24 trillion), marking a historic high. The debt of non-financial public enterprises such as Korea Electric Power
Information and communication technology (ICT) and automobiles are leading Korean exports. ICT exports emerged from a 17-month recessionary tunnel on the coattail of memory semiconductors. Automobiles are close to surpassing US$70 billion in annual exports for the first time ever.According to the Mi
The Korean government has decided to lower Korea’s import dependence on 185 key items for semiconductors, secondary batteries, automobiles and shipbuilding to 50% by 2030. As of last year, Korea’s import dependence averaged 70%, with some items exceeding 90%.The Ministry of Trade, Industry and Energ
The continued decline in semiconductor prices and a slowdown in the growth rate of automobile exports have led to a deterioration in the growth and profitability indicators of domestic companies in the third quarter from July to September.According to the results of the “Q3 Corporate Management Anal
McKinsey & Company released an economic diagnosis report titled “Korea’s Next S-Curve” on Dec. 11. This report comes ten years after the firm’s previous report titled “Beyond Korean style: Shaping a new growth formula,” suggesting that the South Korean economy has reached its growth limits.In its re