Business News Asia
The National Statistical Office of South Korea has reported that the country’s inflation in January has risen to its highest level in three months, surprising economists. According to the report, the Consumer Price Index (CPI) in January increased by 5.2%…
Online shopping in South Korea reached a record high in 2022, according to the National Statistical Office. The demand for travel and leisure services saw a significant increase, contributing to the overall growth of online shopping in the country. The…
South Korean exports took a major hit in January, falling for the fourth consecutive month and declining faster than expected. This decline can be attributed to the global economic downturn, a decrease in demand and the reopening of China after…
South Korea’s Purchasing Managers’ Index (PMI) for manufacturers showed a slight decline in January, coming in at 48.5 compared to 48.2 in December. Despite the slight increase, the PMI has remained below the mid-50 level for seven consecutive months, impacted…
South Korea’s coffee bean imports reached a record high in 2022, a clear indication of the country’s growing preference for coffee. According to the Korean Coffee Society (KCS), the import of coffee beans, including raw and roasted, is expected to…
South Korea’s economy contracted for the first time in two and a half years in the fourth quarter of 2022, according to the Bank of Korea (BOK). The decline was due to a decrease in post-COVID-19 spending and a drop…
The South Korean Customs Service announced on January 25th that the country has imported a record amount of kimchi from China due to rising inflation in the domestic market. According to the Customs Service, the total value of kimchi imports…
SEOUL, South Korea – South Korea’s Customs Service announced on Saturday that exports for the country fell 2.7% in the first 20 days of January year-on-year, primarily due to a slump in semiconductor chip export sales. Exports were valued at…
The Central Bank of Korea (BOK) has released the Producer Price Index (PPI), which measures the prices of goods and services for South Korean suppliers, and it has fallen for the second straight month in December as crude prices fell…
Analysts predict that South Korea’s export-reliant economy will contract in the fourth quarter of 2022, its worst performance in two and a half years, as declining external demand and rising interest rates hurt consumer consumption and private sector activity. Economists…
