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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.

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

Japan's Economic Shift: Deflation to Digital

Japan's Economic Shift: Deflation to Digital

In a landmark shift from its longstanding economic policy, Japan's central bank has recently ended its era of negative interest rates, a policy that had been in place since 2016. This change marks a pivotal moment for Japan as it grapples with various economic challenges, from wage stagnation

South Korea Faces Persistent High Inflation Amid Climate Change

South Korea Faces Persistent High Inflation Amid Climate Change

Seoul, South Korea — South Korea is grappling with the prospect of entrenched high inflation, driven not just by temporary economic pressures but by a deepening structural crisis exacerbated by climate change. The government's optimistic forecast for inflation stabilization appears increasingly out of reach as consumer prices continue to

South Korea's Struggle for Economic Stability

South Korea's Struggle for Economic Stability

In recent weeks, South Korea's economic landscape has been marked by a significant uptick in volatility, driven by a combination of external geopolitical tensions and internal economic indicators. The Won-Dollar exchange rate recently surged, touching the 1,400 KRW mark for the first time in nearly 17 months,

South Korea's Fiscal Deficit Widens Despite Spending Cuts

South Korea's Fiscal Deficit Widens Despite Spending Cuts

In a startling revelation, South Korea's fiscal deficit for the past year surged nearly 29 trillion KRW beyond initial projections, despite significant reductions in government expenditures. This financial conundrum stems from overly optimistic tax revenue forecasts, resulting in a historic shortfall that reached a staggering 59 trillion KRW.