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South Korea Economy

  • Monday, 22 April, 2024
    The Big Read
    Is South Korea’s economic miracle over?

    Decades of growth are tapering off as the country struggles to reform its model and reduce its dependence on manufacturing

    Montage of images of a woman working on a production line, a hand holding a smartphone, and production chips, against a background of the South Korean flags and graph lines
  • Monday, 8 April, 2024
    Interview
    China now a rival rather than boon for South Korean exporters, warns minister

    Seoul says tech and manufacturing sectors must adapt to rising competition

    South Korean finance minister Choi Sang-mok
  • Wednesday, 3 April, 2024
    Special ReportFT High-Growth Companies Asia-Pacific
    South Korean virtual reality fishing game reels in 1mn users

    Dev United Games’ success helps the country dominate this year’s FT ranking of high-growth Asia-Pacific companies

    Screenshot of a video game wherein there are three fishermen and a virtual hand trying to catch fish from a river. In the background is a lush mountainside and sunny skies
  • Thursday, 28 March, 2024
    South Korea Society
    $75,000 for a baby? South Korean businesses float incentives as demographic crisis looms

    Companies and politicians try new strategies to encourage workers to start families

    A South Korean mother holding her child
  • Thursday, 22 June, 2023
    Asia manufacturing
    US overtakes China as market for South Korean goods

    Shifts in supply chains part of changing pattern of global trade

    Kia cars bound for shipment are parked next to a vehicle carrier at the port of Pyeongtaek
  • Tuesday, 13 June, 2023
    News in-depthSouth Korea
    China’s pressure on ‘weakest link’ South Korea falls flat amid tensions with US

    Beijing has wielded trade and leverage over North Korea to discourage Seoul from closer ties with Tokyo and Washington

    A Thaad missile defence interceptor test
  • Tuesday, 25 April, 2023
    News in-depthSouth Korea Politics & Policy
    South Korea’s president to seek assurances on chips and nuclear threat at Biden meeting

    Washington to welcome ally as anxiety mounts over China decoupling and North Korea

    Joe Biden and Yoon Suk Yeol at a news conference
  • Friday, 27 January, 2023
    South Korea’s pension fund forecast to run out in 2055 as demographic crisis hits

    Ageing population and underemployment add to pressures as Seoul pushes for reform

    Commuters walk outside a train station in Seoul as snow falls
  • Tuesday, 27 December, 2022
    South Korea Politics & Policy
    South Korea’s former president Lee Myung-bak to be pardoned

    Conservative leader given 17-year prison sentence in 2018 for charges including corruption and embezzlement

    Lee Myung-bak
  • Friday, 11 November, 2022
    South Korean business & finance
    How a liquidity crunch in South Korea began at Legoland

    Policymakers struggle to contain defaults as rate rises put pressure on emerging markets

    A picture of Legoland in South Korea
  • Tuesday, 27 September, 2022
    InterviewSouth Korean business & finance
    ‘Sense of crisis’ has gripped South Korean chip industry, warns minister

    Lee Jong-ho says new legislation will boost competitiveness in supply chain and security

    A Samsung Electronics chip production facility in Pyeongtaek, South Korea
  • Wednesday, 21 September, 2022
    Bank of Korea
    Bank of Korea denies imminent US swap deal as won falls

    South Korea battles to defend currency under pressure from Fed rate decision

    A currency trader walks by Korea foreign exchange rates screens
  • Sunday, 18 September, 2022
    InterviewSouth Korean business & finance
    South Korea complains of growing friction with US over high-tech trade

    Seoul’s trade minister accuses Joe Biden of about-face on electric vehicle subsidies

    An employee works on the production line manufacturing Hyundai Ioniq 5 electric vehicles at a plant in Ulsan, South Korea
  • Thursday, 15 September, 2022
    South Korea looks at ‘contingency plans’ to stabilise the won

    Finance minister steps up verbal intervention as currency hits 13-year low against the dollar

    A currency trader watches computer monitors near the screens showing the Korea Composite Stock Price index on Wednesday
  • Monday, 22 August, 2022
    North Korea nuclear tensions
    US and South Korea launch war games for first time in 4 years

    Military drills come as regional tensions mount over Pyongyang’s nuclear programme and Taiwan status

    South Korean soldiers check over tanks as part of the Ulchi Freedom Shield exercise with the US on Monday
  • Friday, 12 August, 2022
    South Korea Politics & Policy
    South Korea disputes China’s account of foreign minister talks

    Countries offer contrasting versions of missile defence policy as tensions increase

    South Korean foreign minister Park Jin, left, met his Chinese counterpart Wang Yi in Qingdao this week
  • Friday, 12 August, 2022
    Samsung Electronics Co Ltd
    Samsung heir Lee Jae-yong to win presidential pardon

    Billionaire scion of company’s ruling family served 19 months for bribing a former president

    Lee Jae-yong pictured getting out of a car at Seoul High Court in 2019
  • Wednesday, 3 August, 2022
    Semiconductors
    Samsung and SK Hynix rethink China exposure following US chips act

    Leading Korean chipmakers re-evaluate further Chinese investments in wake of Washington restrictions

    US president Joe Biden, right, with South Korean president Yoon Suk-yeol following a tour of the Samsung Electronics factory in Pyeongtaek
  • Tuesday, 5 July, 2022
    South Korean consumer prices rise at quickest rate since 1998

    Inflation piles pressure on central bank to increase rates by 50 basis points for first time

    A customer buys fish at the Mangwon Market in Seoul
  • Friday, 3 June, 2022
    South Korean inflation surges by most in almost 14 years

    Consumer price index rises 5.4% in May, adding further pressure on Asia’s fourth-biggest economy

    People inside a department store in Seoul
  • Tuesday, 26 April, 2022
    South Korea’s recovery slows as worries over China lockdowns rise

    Exports fell in April as analysts warn that demand is weakening while Beijing grapples with Covid fears

    A man walks under lotus lanterns at the Jogye Temple in Seoul on Monday
  • Thursday, 30 December, 2021
    InterviewGlobal trade
    S Korea trade minister calls for post-Covid focus on supply chain resilience

    Crisis has forced lasting shift in governments’ policy approach, according to Yeo Han-koo

    Container ships are docked at the Port of Busan in South Korea
  • Thursday, 2 December, 2021
    South Korean inflation races to fastest pace in a decade

    Consumer prices jump in Asia’s fourth-biggest economy amid Covid outbreak and supply chain turmoil

    People wearing face masks walk through Myeongdong shopping district in Seoul
  • Tuesday, 26 October, 2021
    Covid outbreak buffets South Korean growth

    Restrictions to contain the virus blamed for economy expanding just 0.3% in third quarter

    Shoppers peruse groceries in a Korean supermarket
  • Tuesday, 12 October, 2021
    South Korea Politics & Policy
    South Korea’s ‘Bernie Sanders’ touts universal basic income ahead of polls

    Leading presidential candidates embrace radical economic shifts to tackle growing inequality

    A man works on a rooftop of his shack as a luxury high-rise apartment complex is seen in the background at Guryong village in Seoul
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