BOK

South Korea's private consumption falls amid political

Seoul - ArabToday

South Korea's private consumption fell for two straight months amid the lasting political unrest caused by the impeachment of President Park Geun-hye, a government report showed on Wednesday. Retail sales, which reflect private expenditure, shed 1.2 percent in December from a month earlier, Statistics Korea data showed, in November, the sales in retail stores edged down 0.1 percent. Falling consumptionRead more

Bank of Korea: Money Production Cost Rise in 2016

Seoul - QNA

The Bank of Korea (BOK) said that the cost of producing South Korean money jumped 4.4% in 2016 from a year earlier as the country printed more 50,000 won (42 dollars) bills. South Korea spent 150.3 billion won on printing bank notes and minting coins in 2016, compared to 144 billion won in 2015, according to the Bank of KoreaRead more

South Korea cuts growth outlook as Park storm bites

SEOUL - AFP

South Korea's central bank on Friday cut its growth forecast citing "deteriorations in economic sentiment" as the country is rattled by the snowballing political turmoil engulfing impeached President Park Geun-Hye. The already-struggling economy has taken a severe hit from an influence-peddling scandal that has brought hundreds of thousands of protesters onto the streets every week demanding Park's removal. Read more

South Korea's Current Account Surplus Hits 4-Month Low at US$5.51 Billion in August

Seoul - QNA

South Korea's current account surplus hit the lowest in four months in August due to slowing exports and increased imports, central bank data showed Tuesday. The current account surplus reached US$5.51 billion in August, compared with $8.67 billion in July, according to the preliminary data from the Bank of Korea (BOK). The August figure represents a drop from an $8.54Read more

South Korea's Import Volume Index Sharply Rises in August

Seoul - QNA

South Korea's imports increased sharply in August in both quantity and value, led by the machinery and chemical sectors, the central bank data showed Monday. The import volume index jumped 7.5% to 124.58 in the month from a year earlier, marking the largest growth since late 2014, according to the Bank of Korea (BOK). It's a 5.6% rise from 117.94Read more

South Korean Households' Excess Funds Shrink in Q2

Seoul - QNA

Excess funds held by South Korean households fell sharply in the second quarter due to increased spending and debt repayment, while local companies saw their shortage of funds dwindle, South Korean central bank data showed Wednesday. Excess funds held by local households, including nonprofit organizations, came to 13.7 trillion won (US$12.4 billion) as of end-June, compared with 24.3 trillion wonRead more

Households' cash surplus in S.Korea drops on home purchase

Seoul - XINHUA

Cash surplus held by South Korean households dropped in the second quarter as the households spent money to purchase home amid record-low interest rates, central bank data showed on Wednesday. Cash surplus among households and non-profit organizations reached 13.7 trillion won (12.5 billion U.S. dollars) in the April-June period, down 43.6 percent from the previous three-month period, according to theRead more

South Korea's Import Volume Index Sharply Rises in August

Seoul - QNA

South Korea's import prices fall to 9-year low on strong currency

Seoul - XINHUA

South Korea's import prices declined last month to the lowest in about 9 years as local currency appreciated to the U.S. dollar, central bank data showed on Tuesday. The import price index slumped 1.9 percent from a month earlier to stand at 74.44 in August, the lowest figure in about 9 years, according to the Bank of Korea (BOK). GlobalRead more

South Korea's Foreign Exchange Reserves Rise in August

Seoul - QNA

South Korea's foreign exchange reserves rose slightly from a month earlier in August due to increased gains from investment in foreign assets and an increase in the dollar-converted value of non-dollar currencies, South Korean central bank data showed Monday. As of the end of August, the country's foreign exchange reserves came to US$375.46 billion, up $4.08 billion from the previousRead more