Economy

South Korea’s economy is facing one of its most challenging periods following the unprecedented declaration of martial law by President Yoon Suk Yeol, a decision swiftly reversed amid public and political backlash. The brief yet impactful episode has not only rattled financial markets but also created ripples of uncertainty

A recent report from Statistics Korea has highlighted a concerning trend in South Korea’s socio-economic landscape: income mobility, a key indicator of social mobility, has become increasingly stagnant. According to the "2017–2022 Income Mobility Statistics," the majority of individuals in the country remain locked within the

South Korea is navigating a perfect storm of economic and political instability as a surge in property foreclosures coincides with rising financial market volatility. November 2024 saw a record-breaking 4,865 foreclosure filings, the highest in over three years, while political unrest has driven the won-dollar exchange rate to its

South Korea's economy is sending troubling signals as middle-aged households, a vital backbone of the nation's economic activity, face unprecedented financial strain. The third quarter of 2024 saw a historic decline in business income for households led by those in their 40s, a demographic traditionally considered

Seoul, South Korea - In a surprising turn, the Bank of Korea (BOK) recently reduced its benchmark interest rate by 0.25 percentage points for the second month in a row, bringing it to 3.0% from 3.25%. This move marks the first consecutive rate cut since the 2008

Imagine an economy where spending stalls for nearly three years, and the fastest-growing workforce is retirees forced to return to jobs. This is not a hypothetical scenario but the reality in South Korea today. A historic 10-quarter decline in retail sales has left small businesses struggling, while the government celebrates