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May 24, 2017

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Business > Asia > Korea
The landscape of Seoul's lucrative duty-free market, dominated by Lotte and Shilla as of now, is set for a major change following the bid for the expiring business licenses of three duty-free stores in the capital city.
 
South Korea's central bank on Thursday left its key interest rate unchanged at a record-low 1.5 percent for the fifth straight month ahead of a possible U.S. rate hike.
 
South Korea's economy expanded 2.6 percent in the July-September quarter from a year earlier, the fastest annual clip in three quarters, the Bank of Korea said Friday, showing a recovery from the Middle Eastern respiratory syndrome crisis that gripped the country in the summer.
 
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.
 
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