KB News DeskBOK chief defends rate freeze aimed at curbing household debt
Korea’s central bank chief on Tuesday defended the bank’s latest rate freeze decision, saying that the level of household debt is inching toward a point that can cause an economic…
National, household debt surpasses $2.26 tril. amid lower state revenue
The combined debt of the government and households in Korea has surpassed 3,000 trillion won ($2.26 trillion) for the first time, driven by lower tax revenue, increased bond issuance and…
Foreign currency deposits up for 2nd month in July
Foreign currency deposits rose for the second straight month in July as companies saved more U.S. dollar-denominated currency, central bank data showed Friday. Residents’ outstanding foreign currency-denominated deposits reached $4.44…
Monthly pension for senior citizens far below minimum living expenses: data
Senior citizens received a pension of 650,000 won ($486.2) per month on average in 2022, which came far below the minimum cost of living, data showed Thursday. A total of…
Producer prices rise in July on industrial, farm goods
Korea’s producer prices rose in July, driven by a rise in prices of industrial and agricultural goods, central bank data showed Wednesday. The producer price index, a major barometer of…
Regulator to tighten curbs on mortgage loans from next month
The country’s chief financial regulator said Tuesday that tightened curbs will be applied to mortgage loans starting next month in a bid to curb soaring household loans. In a meeting…
Number of self-employed shrinks in July for 6th consecutive month
The number of self-employed people in Korea fell for the sixth consecutive month in July, data showed Monday, as the nation’s economy grapples with weaker consumption. There were 5.72 million…
Job additions rise over 100,000 for first time in 3 months
Korea added more than 100,000 jobs for the first time in three months in July, but jobs in the construction sector fell by the most in 11 years amid a…
Job additions rise over 100,000 for first time in 3 months
Korea added more than 100,000 jobs for the first time in three months in July, but jobs in the construction sector fell by the most in 11 years amid a…
Montenegrin court postpones extradition of crypto mogul Kwon to Korea
Montenegro’s highest court on Thursday postponed an earlier decision on the extradition of Korean crypto entrepreneur Do Kwon to his home country in connection with a massive cryptocurrency crash. Previously,…