South Korea's central bank on Thursday slashed its 2015 economic growth forecast and kept its benchmark interest rate unchanged at a record low amid growing concerns of deflation.
South Korean builders are expected to expand investment into the world's emerging markets this year as they seek ways to sustain growth amid tough market conditions in the Middle East, which previously was the top client for the industry.
South Korea lowered its growth forecast for next year, citing persistently weak sentiment among consumers and businesses. But the government predicted that overall economic conditions will improve from this year thanks to government measures, recovery in the U.S. economy and the fall in oil prices.
South Korea's nuclear power plant operator launched a two-day drill Monday to test its ability to thwart a cyberattack, after a series of online information leaks by a suspected hacker.
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).
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 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.