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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.

Bank of Korea Holds Base Rate Steady Amid Slowing Inflation and Economic Uncertainty

Bank of Korea Holds Base Rate Steady Amid Slowing Inflation and Economic Uncertainty

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

World Bank Warns of a "Lost Decade" for Global Economy Amid Pandemic and Ukraine Crisis

World Bank Warns of a "Lost Decade" for Global Economy Amid Pandemic and Ukraine Crisis

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 Exports in Slump Amid Weak Global Demand and Semiconductor Market

South Korea's Exports in Slump Amid Weak Global Demand and Semiconductor Market

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's Growing Employment Crisis: Record Youth Unemployment and Overwork Issues

South Korea's Growing Employment Crisis: Record Youth Unemployment and Overwork Issues

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,

South Korea's Trade Deficit Hits All-Time High Amid Export Slump

South Korea's Trade Deficit Hits All-Time High Amid Export Slump

South Korea has recently posted its worst trade deficit in history, with a 13.9 billion-dollar deficit in February 2023. The country's worsening trade balance is concerning for its economy, which heavily relies on exports. The COVID-19 pandemic has hit the global economy hard, causing supply chain disruptions

Silicon Valley Bank's Investment in Long-Dated Bonds Causes Collapse

Silicon Valley Bank's Investment in Long-Dated Bonds Causes Collapse

Silicon Valley Bank (SVB), the preferred bank for the tech sector, collapsed suddenly after a series of unfortunate investment decisions. The California-headquartered organization grew to become the 16th largest bank in the US, catering to the financial needs of technology companies worldwide before its collapse. SVB’s services were in

SVB Failure Sparks Concerns of Financial Crisis for US Tech Companies

SVB Failure Sparks Concerns of Financial Crisis for US Tech Companies

Silicon Valley Bank (SVB), one of the largest banks in the United States catering to the technology industry, collapsed just 48 hours after a bank run by its depositors. This event marks the largest failure of a financial institution since the height of the financial crisis more than a decade