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Economy

Economy

Get the latest economic news, market trends, and financial insights from Korea and the world. Stay informed with Breeze in Busan.

Global Rate Cuts and South Korea’s Economic Challeng

Global Rate Cuts and South Korea’s Economic Challeng

In response to evolving global economic conditions, central banks worldwide have recently implemented interest rate reductions aimed at sustaining economic growth and stabilizing inflation. The U.S. Federal Reserve, the Bank of England, and the Bank of Korea have each taken notable actions, though with different economic considerations and results.

How the U.S. Fed’s 2024 Rate Cut Affects South Korea’s Economy

How the U.S. Fed’s 2024 Rate Cut Affects South Korea’s Economy

In September 2024, the U.S. Federal Reserve slashed interest rates by 50 basis points, marking its first rate reduction in four years. The Fed’s decision, aimed at stabilizing inflation and addressing rising unemployment, is part of an ongoing effort to stimulate the U.S. economy amidst cooling price

Is South Korea Facing a Prolonged Recession?

Is South Korea Facing a Prolonged Recession?

As South Korea grapples with rising inflation and a slowing economy, signs are emerging that the nation may be on the cusp of a prolonged economic downturn. Nowhere is this more evident than in the restaurant industry, where closures have surged, and businesses struggle to stay afloat. The once-thriving sector,

Bank of Korea Holds Interest Rate at 3.50%, Signals October Cut

Bank of Korea Holds Interest Rate at 3.50%, Signals October Cut

Seoul, South Korea - The Bank of Korea (BOK) has once again opted to maintain its key interest rate at 3.50%, a decision that marks the 13th consecutive rate hold since early 2023. This cautious approach comes amidst a backdrop of easing inflation, persistent household debt, and modest economic

U.S. Recession Fears Rise as Sahm Rule Signals Economic Concerns

U.S. Recession Fears Rise as Sahm Rule Signals Economic Concerns

Amidst increasing signs of economic slowdown, the United States faces rising fears of a recession. The activation of the Sahm Rule, an indicator of economic downturns, has intensified scrutiny from economists and policymakers. The potential implications of this economic uncertainty are far-reaching, notably affecting South Korea, a significant trading partner

Adapting to Change in Busan's Retail Industry and Self-Employment Crisis

Adapting to Change in Busan's Retail Industry and Self-Employment Crisis

Busan, a city known for its energetic commerce and bustling local businesses, is undergoing a significant transformation. The Covid-19 pandemic has accelerated a shift towards online shopping, leading to the closure of numerous major retail outlets and a dramatic decline in self-employment. Recent statistics underscore a deepening 'self-employment crisis,

Rising Trend of Unsold Completed Homes in South Korea

Rising Trend of Unsold Completed Homes in South Korea

The South Korean housing market is facing a significant challenge with the continuous increase of unsold completed homes, commonly referred to as "malicious unsold homes." These properties, which remain unsold despite being fully constructed, have been on an upward trend for the past ten months, creating considerable burdens