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July, 24, 2016

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Business > Asia > Korea
Ratings agency Moody's on Monday downgraded its outlook for South Korea's banking system from stable to negative, predicting a deterioration in creditworthiness over the next year.
 
Rising N. Korea gas prices put pinch on traffic
Pyongyang drivers are feeling some pain at the pump as rising gas prices put a pinch on what has been major traffic growth over the past few years -- and that might not be good news for the isolated country's shifting domestic economy.
 
A recent survey found that 41 percent of jobs in South Korea are concentrated in Seoul.
 
South Korea's central bank on Thursday kept its key interest rate unchanged at record lows, refusing to cut further as it looks to nurture growth in the anaemic economy while also preventing a flight of capital from the country.
 
Like any other office worker living in Seoul, Kate Lee spends more than an hour commuting to work on public transport every morning. The difference is that her office is located 140 kilometers south of Seoul, in Daejeon city.
 
S. Korea growth down as construction slows
South Korea's economic growth slowed in the final quarter of 2015 as a drop in construction investment outweighed an improvement in consumer spending, the country's central bank said Tuesday.
 
South Korea's transport ministry will carry out a safety review of all the country's low-cost airlines, after an aircraft was forced to make an emergency return after takeoff from the Philippines on Sunday.
 
South Korea's exports fell last year at their fastest rate since the global financial crisis, with 12 straight monthly declines fuelled by a strong won and plunging oil prices.
 
Pyongyang's once sleepy roads now filling with cars
The once sleepy streets of Pyongyang, where the city's iconic traffic controllers would stand in the middle of usually deserted intersections to direct what few cars came by, are now looking a lot busier. So much so, in fact, that a new word has entered the North Korean lexicon -- "jam," as in traffic jam.
 
After a debate stretching back more than 40 years, South Korea's parliament has approved a bill that will finally compel the country's influential clergy to pay taxes.
 
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