Lotte Group has announced that it will be hosting the “South Korea Brand Expo in Jakarta” in collaboration with the Korea Trade-Investment Promotion Agency (KOTRA) until Sept. 8 in Jakarta, Indonesia.Since it began in 2016, the South Korea Brand Expo is holding its 17th event and has recorded a cumu
On Sept. 4, international credit rating agency Fitch evaluated the South Korean government’s budget proposal for 2024 and the medium-term fiscal management plan as a “relatively robust fiscal policy.” It stated that it “may have a slightly (negative) impact on economic growth but will help strengthe
Germany, once considered the growth engine of Europe, is mired in an economic slump. The International Monetary Fund (IMF) has projected that Germany will experience negative growth of 0.3 percent this year, making it the only G7 country among the seven major economies to undergo a contraction. The
In August, exports outperformed expectations, surpassing seasonal factors such as summer vacations. The year-on-year decline in exports narrowed to single digits, and the decline in semiconductor exports to China also moderated compared to the previous month.According to the Ministry of Trade, Indus
Despite the waning of the “king dollar” phenomenon that prevailed last year, the currencies of three East Asian countries – South Korea, China, and Japan – have not managed to break free from their weakened positions. Notably, the Korean won appears to be weaker compared to the Japanese yen and the
It was reported that production, consumption, and investment had all decreased in July. This simultaneous decline in the three major indicators of industrial activity, which together showcase the vitality of the South Korean economy, is the first since January. Additionally, facility investment reco
Eight out of ten business leaders have expressed the belief that the Chinese economy will continue to deteriorate in the future. This outlook is attributed to mounting concerns over risks stemming from China, notably those associated with the U.S.-China conflict. It is increasingly evident that the
The government, in a joint effort with the private sector, is establishing a “Startup Korea Fund” with a total size of 2 trillion won (US$1.51 billion) by 2027 to support the global expansion of deep tech and startups.The Ministry of SMEs and Startups (MSS) announced the “Comprehensive Startup Korea
South Korea’s exports fell 12.4 percent in the first half of the year. Therefore, South Korea became the only country in the world’s top 10 to post a double-digit decline in exports. Its global export ranking dropped to eighth place from sixth in 2022. South Korea’s trade deficit is expected to reac
Due to a recent economic crisis in China, Korea’s exports to China may fall by US$36.92 billion this year, according to an analysis report.The report titled “Implications of Declining Exports to China on the Korean Economy,” released by the Hyundai Research Institute on Aug. 24, estimates how much a
The Monetary Policy Committee (MPC) of the Bank of Korea (BOK) has decided to maintain the benchmark interest rate at 3.50 percent annually. This marks the fifth consecutive freeze following similar decisions in February, April, May, and July.The MPC held a monetary policy direction meeting on the m
In the second quarter of this year, Korea’s net external financial assets (external financial assets minus external financial liabilities), which reflects the country’s external solvency, declined amid rising stock markets at home and abroad.However, Korea’s ratio of short-term external debt to tota
The Japanese yen-U.S. dollar exchange rate rose to 146 yen per U.S. dollar on the Tokyo foreign exchange market on Aug. 17. It reached the highest level in nine months since November 2022 and the highest so far this year.While the Japanese yen has stayed at one of the lowest points in history, the K
Korea’s coffee imports have shrunken this year, according to the Korea Customs Service. The decline is attributed to a drought that impeded global coffee production.According to the Korea Customs Service’s trade statistics on Jan. 21, the volume of Korea’s coffee imports from January to July this ye
Following a ban on overseas transfers of rare earth permanent magnet manufacturing technology at the end of 2022, China has decided to control the export of gallium and germanium emerging as next-generation semiconductor materials, starting from August. The Russian-Ukrainian war, which has been goin
Chinese companies that have been exporting solar cells and modules to the United States through Southeast Asia are facing a “tariff bomb” from the U.S. Department of Commerce. Hanwha Q CELLS, the solar division of Hanwha Solutions, based in Malaysia, stands to benefit from these tariffs.On Aug. 18,
South Korea, once the largest exporter to China, fell to fifth place among exporters to China in the first half of this year. This is because exports of intermediate goods to China, which account for more than 80 percent of South Korea’s exports to China, have been on a sharp decline. On the other h
The Mexican government’s surprise move to raise tariffs on steel imports by up to 25 percent from countries with which it has not signed trade agreements is expected to deal a blow to South Korea only, not touching the United States or Japan.The USTR announced on its website on Aug. 18 (local time)
Japan’s nationwide average minimum wage has surpassed 1,000 yen (9,241 won or US$6.88) per hour for the first time. It is analyzed that local governments have implemented larger increases than expected as rising prices overlapped with labor shortages.According to reports from Nihon Keizai Shimbun an
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Presidential transition committee’s housing policy proposalsThe presidential transition committee, which was launched in March following the presidential election, has been actively communicating