Economy

As South Korea grapples with a recession, the government has embarked on a strategy of selling public institutions' real estate assets and reducing workforces to address fiscal challenges. While this approach may provide short-term relief, it is essential to examine the potential unintended consequences on the economy and explore

South Korea's central bank, the Bank of Korea, has decided to maintain its benchmark interest rate at 3.50% during a recent monetary policy meeting. This marks the second consecutive freeze since February, as consumer price inflation has dropped to the low 4% range. The decision to hold

With inflation appearing to slow down and the economy remaining sluggish, the Bank of Korea keeps the base rate unchanged for the second consecutive time. The Bank of Korea (BOK) has opted to maintain the base rate at 3.5 percent for a second consecutive time, as recent data suggests

The World Bank cautioned that the coronavirus pandemic and Russia's war in Ukraine have contributed to a decline in the global economy's long-term growth potential, possibly leading to a "lost decade" characterized by increased poverty and fewer resources to address climate change. This warning

South Korea's early trade data reveals a deepening slump in exports, as global demand for semiconductors remains weak and China's reopening has not yet provided a boost. With daily shipments decreasing significantly, this decline in sales has implications for the Korean economy, which has already contracted

South Korea is currently facing two alarming trends among its younger population: a record-high number of young adults not seeking work and a highly debated proposal to increase the workweek cap. Nearly half a million young adults aged 15-29 report being "off" work and not actively seeking employment,