Amid the continued positive trend in automotive exports, the export amount index has turned upward for the first time in 13 months, riding on the recovery in the semiconductor market. Due to the decline in international oil prices, the import amount index has experienced eight consecutive months of
Card spending abroad by residents in the third quarter nearly reached US$4.8 billion, indicating a recovery to pre-COVID-19 levels, as overseas travel and direct online overseas purchases have increased. However, card spending by foreigners in Korea decreased, amounting to only half of overseas card
On Nov. 28, the Incheon Port Authority (IPA) announced the new acquisition of car cargo volume from the Japanese global shipping company Mitsui O.S.K. Lines, Ltd. (MOL) at Incheon Inner Harbor.According to the IPA, the MOL car carrier “MV. LAVENDER ACE” departed from Tianjin Port, China, on Nov. 24
An analysis has emerged suggesting that the Morgan Stanley Capital International (MSCI) Korea Index is poised to experience a 20 percent increase in the coming year.On Nov. 26, Bloomberg Intelligence (BI), a research institution under Bloomberg, projected a 58 percent increase in the total earnings
With a short-term external debt ratio reaching a historically low level in the third quarter of this year, South Korea’s ability to meet external obligations is demonstrated by an increase of US$21.4 billion in net external financial assets in just one quarter. This is because debts decreased more s
Korea’s real gross domestic product (GDP) is expected to rise by 2.0 percent next year from this year, according to the state-run Korea Institute for Industrial Economics and Trade (KIET) in its 2024 Economic and Industrial Outlook report released on Nov. 20. The relatively conservative forecast is
The value of the Japanese yen is nearing its lowest point in 33 years, emerging as a hidden challenge for South Korea’s industrial sector. Key industries such as steel, automotive, and electronic components, which directly compete with Japanese counterparts, are facing weakened price competitiveness
The International Monetary Fund (IMF) has warned the Korean economy that it will fall in a low-growth slump for the next five years if it does not take proper steps to reform its structure now.According to an analysis of the IMF’s recently released annual report on Korea, the country’s gross domesti
In the ratio of corporate debt to South Korea’s gross domestic product (GDP), it has been revealed that the country has moved from the fourth to the third position globally in just three months.According to the world debt report released by the Institute of International Finance (IFF) on Nov. 16, co
Due to the increase in corporate export proceeds deposits, resident foreign currency deposits rebounded by approximately US$4.6 billion last month compared to a month earlier. Yen deposits reached a record high due to individual investment demand amid the yen depreciation trend as well as corporate
Contrary to the prevailing pessimism earlier this year, foreign media analysis suggests that the South Korean economy is exhibiting an encouraging trend.In his column on Nov. 15 (local time), Bloomberg opinion columnist Daniel Moss assessed the South Korean economy stating, “Critical exports are in
According to the Korean Ministry of Strategy and Finance on Nov. 14, Korea’s overseas direct investment (ODI) totaled US$15.31 billion from the first quarter to the second quarter of 2023. The amount was 22.9 percent lower than US$19.84 billion a year ago. The decline was the largest in 14 years sin
The Ministry of Trade, Industry and Energy announced on Nov. 14 that last month’s exports in the Information and Communication Technology (ICT) sector amounted to US$17.06 billion, while imports recorded US$12.61 billion, resulting in a provisional trade surplus of US$4.44 billion.Notably, the incre
Korean intermediate goods exporters have been entering Vietnam in large numbers after exiting the Chinese market for several years. But the share of Korean intermediate goods has been on the decline in the Vietnamese market since 2017. This is because Chinese intermediate products are rapidly replac
While Korea’s exports rebounded for the first time in 13 months in October, the value of Korea’s exports to Eastern European countries surged. Eastern European countries included Poland, Hungary and Turkiye. In general, they had previously accounted for small proportions of Korea’s exports.The Korea
Korea has posted a current account surplus for the fifth consecutive month. The Bank of Korea (BOK) forecast that Korea will be able to reach an annual current account surplus of US$27 billion by steadily enjoying current account surpluses.The BOK said on Nov. 8 that the current account posted a sur
China’s exports have continued to fall for three consecutive months.According to the General Administration of Customs of China, China’s exports in October amounted to US$274.83 billion, a decrease of 6.4% compared to the same month last year. This decline exceeded the previous month’s drop of 6.2%
It is expected that China will secure the top position in the South Korean cross-border e-commerce, or direct purchase, market, surpassing the United States for the first time this year. This outcome is driven by Chinese e-commerce giants such as AliExpress, which have aggressively penetrated the So
The strength of the U.S. dollar, along with measures to stabilize the market and prevent further depreciation of the South Korean won, has resulted in a decline in foreign exchange reserves for the third consecutive month.According to foreign reserves statistics released by the Bank of Korea on Nov.
In October, Korea’s exports turned positive for the first time in 13 months, and the nation’s trade balance has been positive for five consecutive months since June. It was the first time in 20 months since February 2022 that exports rebounded and the nation posted a trade surplus at the same time.A