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
In September, South Korea’s trade conditions improved for the fourth consecutive month. Export volumes also turned positive compared to the same month last year, marking the first increase in three months. Export revenue has continued to decline for the 12 consecutive month, but the extent of the de
Mirae Asset Global Investments, through its ETF subsidiary Global X Hong Kong, announced on Oct. 30 that it will commence trading of the “Global X Hang Seng TECH ETF” on the Shanghai and Shenzhen stock exchanges starting Nov. 6.The Global X Hang Seng TECH ETF is an ETF that tracks the Hang Seng Tech
Following the pandemic, South Korea remained in the middle to lower range in terms of growth rates among advanced economies. However, it ranked higher in terms of price stability indicators. This suggests a ‘trade-off’ between investment-led growth expansion and tight fiscal policy.According to the
The International Monetary Fund (IMF) has praised South Korea’s sound fiscal policies, stating that the country’s national debt is at an appropriate level. However, the IMF has also expressed concerns about the high levels of household debt in South Korea.According to the transcript of a press brief
Investor concerns are growing within the overseas real estate fund market as even prime overseas office buildings with low vacancy rates are showing investment losses. Particularly, as the maturity dates of real estate funds established from 2018 to 2021 are set to continue, warning signs are also o
In the third quarter (July-September) of this year, the Korean economy continued to grow thanks to a recovery in exports and consumption in the private sector. However, uncertainties surrounding outlooks on growth for the fourth quarter have increased with consumer and business sentiment deteriorati
There seems no end in sight in the growth of Korea’s trade deficit with China. This is due to a significant drop in Korea’s exports of high-tech products such as semiconductors and displays to China.Korea’s exports and imports from China reached US$91.6 billion and US$107.3 billion, respectively, in
The proportion of so-called “zombie companies” unable to cover interest costs with their operating profit has reached its highest level since 2009, standing at 42.3 percent last year. Due to the global economic slowdown and the impact of high interest rates, corporate underperformance persisted in t
Amid the rising value of the U.S. dollar and the subsequent selling off to capitalize on profits, residents’ foreign currency deposits decreased by nearly $100 billion last month, marking a continuous decline for the second month in a row. Consequently, the foreign currency deposit balance shrank to
A forecast suggests that South Korea’s potential growth rate will fall below 2 percent for the first time this year and is expected to further decrease to 1.7 percent next year. The factors contributing to the decline in growth rate include issues related to low birth rates, an aging population, and
McKinsey introduced the content of its report, “Koreas Next S-Curve,” to international media outlets at Shilla Hotel in Seoul on Oct. 19. In the report, the company proposed three pillars of reorganization, transformation, and construction and eight action items for Korea’s economic renaissance.McKi
Just last month, a substantial amount of approximately 11 trillion won (US$8.14 billion) in Korean won was withdrawn from the U.S. dollar deposits of the top five domestic commercial banks. It is analyzed that people exchanged dollars for won to capitalize on exchange rate differentials with the won