BRAND

• (URGENT) Hanwha signs takeover deal with Daewoo Shipbuilding

  BRAND

  (END)
• 

  BRAND

  AMRO sharply cuts 2023 growth outlook for S. Korean economy

  SEOUL, Dec. 16 (Yonhap) -- An economic surveillance organization in Asia sharply lowered its 2023 growth outlook for the South Korean economy, citing falling exports and weak private spending, Seoul's finance ministry said Friday.The ASEAN+3 Macr
• Economy feared to slow down on inflation, weak exports: finance ministry

  BRAND

  SEOUL, Dec. 16 (Yonhap) -- The South Korean economy is feared to slow down on high inflation, sluggish exports and weaker private spending, the finance ministry said Friday.The ministry gave the gloomy outlook in its December economic assessment repo
• 

  BRAND

  Hyundai Motor launches upgraded Genesis GV60

  SEOUL, Dec. 16 (Yonhap) -- South Korea's Hyundai Motor Co. on Friday launched the upgraded GV60 all-electric model under the independent Genesis brand in the domestic market. The GV60 SUV is equipped with a 77.4-kilowatt-hour battery and can trav
• 

  BRAND

  (Yearender) Inflation, weak exports weigh down post-pandemic recovery in 2022

  By Kang Yoon-seungSEOUL, Dec. 16 (Yonhap) -- South Korea took advantage of post-pandemic recovery through early 2022, but this year was overall challenging for the export-dependent nation as it felt the pinch of inflation sparked by the Russia-Ukrain
• Top headlines in major S. Korean newspapers

  BRAND

  SEOUL, Dec. 16 (Yonhap) -- The following are the top in major South Korean newspapers on Dec. 16.Korean-language dailies-- Yoon says if labor issues politicized, both politics and economy collapse (Kyunghyang Shinmun)-- Gap between benchmark rates o
• 

  BRAND

  (LEAD) IRA may lead to negative consequences for U.S. in competition with China: U.S. experts

  (ATTN: UPDATES with remarks from a Hyundai Motor official, additional information in last 4 paras)By Byun Duk-kunWASHINGTON, Dec. 15 (Yonhap) -- The U.S. Inflation Reduction Act (IRA) may lead to unintended but negative consequences for the United St
• 

  BRAND

  IRA may lead to negative consequences for U.S. in competition with China: U.S. experts

  By Byun Duk-kunWASHINGTON, Dec. 15 (Yonhap) -- The U.S. Inflation Reduction Act (IRA) may lead to unintended but negative consequences for the United States in its increasingly intensifying competition with China unless modified, U.S. experts argued
• 

  BRAND

  S. Korean economy to worsen next year; gov't to push new growth strategy: finance chief

  SEOUL, Dec. 15 (Yonhap) -- Finance Minister Choo Kyung-ho said Thursday that the government will push for measures to overcome economic difficulties and promote a new growth engine as the economy is expected to further deteriorate next year. "T
• 

  BRAND

  Corporate earnings more than double in 2021 in robust exports

  SEOUL, Dec. 15 (Yonhap) -- South Korean firms' earnings more than doubled in 2021 on the back of an economic recovery from the COVID-19 pandemic, government data showed Thursday.The combined pretax net profit of 13,448 major companies came to 222
• 

  BRAND

  S. Korea calls for considering unique nat'l conditions in climate change responses

  SEOUL, Dec. 15 (Yonhap) -- South Korea has called on the Group of 20 nations to factor in each nation's economic conditions and other circumstances in global responses to climate change, the finance ministry said Thursday.The ministry made the po
• 

  BRAND

  Delinquency ratio on bank loans up in Oct. on higher interest rates

  SEOUL, Dec. 15 (Yonhap) -- The delinquency ratio on loans extended by banks in South Korea rose in October amid rising interest rates, data showed Thursday.The delinquency ratio on banks' won-denominated loans came to 0.24 percent as of end-Octob
• 

  BRAND

  Corporate sales grow slower in Q3 due to economic slowdown: BOK data

  SEOUL, Dec. 15 (Yonhap) -- Sales of companies in South Korea increased at a slower pace in the third quarter, affected in part by a global economic slowdown, central bank data showed Thursday.Combined sales of 3,907 corporations subject to external a
• S. Korea heavily dependent on China for battery minerals supply: report

  BRAND

  SEOUL, Dec. 15 (Yonhap) -- South Korea has the highest foreign dependency among its rival countries for the supply of critical minerals for secondary batteries, with China accounting for the majority of the imports, a report said Thursday. South Kore
• 

  BRAND

  Over 1,600 hacking attempts against industry, energy fields detected this year: data

  SEOUL, Dec. 15 (Yonhap) -- South Korea's major industry, trade and energy public agencies have suffered more than 1,600 hacking attempts so far this year, the industry ministry said Thursday.A total of 1,603 hacking attempts targeting 53 institut
• 

  BRAND

  S. Korea's fiscal deficit widens through Oct.

  SEOUL, Dec. 15 (Yonhap) -- South Korea's fiscal deficit grew 18.7 trillion won (US$14.39 billion) in the first 10 months of this year from a year earlier due to spending on vulnerable groups amid the prolonged pandemic, data showed Thursday.The m
• 

  BRAND

  Container rates for U.S. west coast continue sliding in Nov.

  SEJONG, Dec. 15 (Yonhap) -- Container shipping costs from South Korea to the U.S. west coast dipped for the second straight month in November amid a global economic slowdown, government data showed Thursday.The average freight rate for a 40-foot cont
• 

  BRAND

  Public sector debt hit record high last year amid pandemic: data

  SEOUL, Dec. 15 (Yonhap) -- South Korea's public sector debt exceeded the 1,400 trillion-won (US$1.08 trillion) mark for the first time last year on the government's expansionary policy to cope with the fallout from the COVID-19 pandemic, the
• 

  BRAND

  (LEAD) Uncertainty still remains high even after Fed's rate hike: finance chief

  (ATTN: ADDS BOK's assessment in last 5 paras)SEOUL, Dec. 15 (Yonhap) -- The U.S. Federal Reserve's latest interest rate hike was in line with market expectations, but uncertainty still remains high over high inflation and an economic downturn
• 

  BRAND

  Uncertainty still remains high even after Fed's rate hike: finance chief

  SEOUL, Dec. 15 (Yonhap) -- The U.S. Federal Reserve's latest interest rate hike was in line with market expectations, but uncertainty still remains high over high inflation and an economic downturn, Seoul's finance chief said Thursday.Finance