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January, 23, 2017

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Business > Asia > Korea
South Korea's central bank on Thursday cut its economic growth forecast for the fourth time this year and left interest rates at a record low, as a lengthening export slump overshadowed a pick-up in domestic activity.
 
Bogged by risks from weakening profits and mainland China's economic slowdown, South Korean steelmakers are seeing higher-than-estimated annual sales in a niche sector to become a major growth engine -- premium auto steel sheets.
 
South Korea's central bank on Friday left its key interest rate unchanged at a record-low 1.5 percent, as it keeps an eye on the timing of a much-anticipated U.S. interest rate hike.
 
The brand competitiveness of South Koreans goods and services continued to improve in 2015 from a year ago, the state-run Korea Productivity Center said in a press release Monday.
 
South Korea said Tuesday it had reached agreement with Pyongyang on a wage hike for North Korean workers at their Kaesong joint economic zone, ending a six-month dispute.
 
South Korea's central bank on Thursday left its key interest rate unchanged at a record-low 1.5 percent, despite few indications that a looser monetary policy is boosting economic growth.
 
South Korea's economy slowed in the second quarter, with consumer spending stifled by an outbreak of Middle East Respiratory Syndrome (MERS) and exports failing to lift from a lengthening slump.
 
Samsung conglomerate wins approval for important merger after bitter fight
South Korea's dominant Samsung conglomerate -- run by the country's wealthiest family -- secured shareholder approval Friday for the crucial merger of two affiliates, seeing off a formidable challenge from investor activists led by a combative U.S. hedge fund.
 
North Korea's economy expanded an estimated 1.0 percent in 2014 -- the fourth consecutive year of positive growth, South Korea's central bank said Friday.
 
European aerospace giant Airbus won a US$1.33 billion deal Tuesday to supply air refuelling tankers to South Korea, beating U.S. rival Boeing, a state agency said.
 
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