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May, 28, 2016

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Business > Asia > Korea
South Korea's FEZs eager for foreign investment
In order to spur investment and economic growth, the South Korean government recently started a large-scale promotional campaign to attract more foreign business into the country's eight free economic zones (FEZs).
 
Thanksgiving deals hit South Korea
South Korea does not celebrate Thanksgiving, but the hot deals at U.S. online retailers during the holiday season are changing the shopping habits of South Koreans who are aggrieved at marked-up prices of locally made and imported goods at hometown stores.
 
South Korea's inflation rate hit its lowest point for nine months in November, as the plunge in global oil prices forced a drop in transport costs, state data showed Tuesday.
 
As Japan slips into recession, South Korea is keeping an increasingly wary eye on its export rival's free-falling currency, which is honing a lasting competitive edge over Korean products in a number of key markets.
 
South Korea's central bank on Thursday kept the key interest rate unchanged at 2.0 percent for November, as its governor warned over a "worrisome" drop in the Japanese yen and its possible impact on exports.
 
South Korea's central bank cuts key interest rate to record low
South Korea's central bank lowered its key interest rate to a record low Wednesday as it tries to bolster a fragile economic recovery. The bank also downgraded its growth forecasts for Asia's fourth-largest economy.
 
The top management of Hyundai Heavy Industries, South Korea's top shipbuilder, on Sunday asked all of its executives except for the chairmen and CEO to file for resignation.
 
After announcing it would scrap rice import caps from next year, the South Korean government proposed Thursday an initial 513-percent tariff to soften the impact on a crucial domestic market.
 
Apple's ambitious mobile payment service Apple Pay may need some time to see any success in South Korea's growing mobile payment market due to iPhone's low penetration rate, the difficulty of building partnerships with local firms and security issues. Meanwhile, Kakao, which recently launched its new Kakao Pay is expected to reign for the time being, according to market watchers.
 
South Korea's unemployment rate inched up in August as agriculture and banking sectors continued shedding jobs, government data showed Friday.
 
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