Economy

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

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,

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.

In a recent statement that has stirred conversations in both domestic and international economic circles, President Biden expressed his anticipation that the Federal Reserve would implement interest rate cuts before the end of the year, despite a surprising re-acceleration in price growth across the U.S. economy. This prediction comes

In a recent report by the Korea Development Institute (KDI), a stark revelation was made concerning the job market in South Korea, particularly highlighting the distribution of jobs by business size. South Korea stands out within the Organization for Economic Co-operation and Development (OECD) with the lowest proportion of jobs

In a pivotal policy meeting, the Federal Reserve has taken a stance that has sent ripples through the financial world. On January 31, 2024, the Fed announced its decision to maintain the benchmark interest rate at the range of 5.25%-5.50%, a status quo maintained since July of