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S. Korea suffers falls in production, consumption, investment in April

By Kim Soo-yeonSEOUL, May 31 (Yonhap) -- South Korea's industrial output, consumption and investment declined in April from the previous month in the latest sign that economic recovery momentum remains fragile amid heightened uncertainty, data sh
(URGENT) Industrial output falls 0.7 pct on-month in April

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(EDITORIAL from Korea JoongAng Daily on May 31)

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A suspicious hurryPresident Yoon Suk-yeol hurries to set up an extraordinary team for the management of information on candidates for public offices under the Ministry of Justice after shutting down the office of the senior presidential secretary for
(EDITORIAL from Korea Times on May 31)

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Aborted UN sanctionsChina, Russia hit for siding with North KoreaThe United Nations failed to adopt a resolution for additional sanctions on North Korea, due to vetoes from China and Russia, both permanent members of the U.N. Security Council (UNSC).
(EDITORIAL from Korea Herald on May 31)

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Make the pie biggerConstitutional court ruling illustrates role of platforms, follies of rent-seeking groupsOne of the first -- and the biggest -- obstacles online platform startups face is an almost impenetrable fortress of exotic rules and penaltie
Top headlines in major S. Korean newspapers

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SEOUL, May 31 (Yonhap) -- The following are the top in major South Korean newspapers on May 31.Korean-language dailies-- Gov't announces eased property holding taxes (Kyunghyang Shinmun)-- Gimpo airport relocation pledge emerges as hot issue in
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(2nd LD) BOK chief meets bank leaders following last week's rate hike

(ATTN: UPDATES paras 2, 4, 6)SEOUL, May 30 (Yonhap) -- The chief of the Bank of Korea (BOK) met with heads of major local banks Monday and explained the reasons for the central bank's recent back-to-back rate hike, his office said.BOK Gov. Rhee C
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Samsung's Lee meets Intel CEO in Seoul to discuss chip cooperation

SEOUL, May 30 (Yonhap) -- Samsung Electronics Co. Vice Chairman Lee Jae-yong met with Patrick P. Gelsinger, chief executive of Intel Corp., in Seoul on Monday and discussed cooperation in the chip sector, Samsung officials said.At the meeting, the le
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(2nd LD) S. Korea to dole out compensation to 3.71 mln pandemic-hit merchants

(ATTN: UPDATES last para with number of applications, amount of handouts)SEOUL, May 30 (Yonhap) -- The government plans to provide cash handouts to 3.71 million small merchants in the latest move to support the struggling small businesses hit hard by
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(LEAD) BOK chief meets bank leaders following last week's rate hike

(ATTN: RECASTS headline, throughout with updated info; ADDS photo)SEOUL, May 30 (Yonhap) -- The chief of the Bank of Korea (BOK) met with heads of major local banks Monday and explained the reasons for the central bank's recent back-to-back rate
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(LEAD) S. Korea to dole out compensation to 3.71 mln pandemic-hit merchants

(ATTN: UPDATES on applications received in last para)SEOUL, May 30 (Yonhap) -- The government plans to provide cash handouts to 3.71 million small merchants in the latest move to support the struggling small businesses hit hard by the COVID-19 pandem
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(LEAD) Biz leaders of S. Korea, Japan call for dialogue to improve ties under Yoon gov't

(ATTN: UPDATES story with key remarks from conference, details from joint statement)SEOUL, May 30 (Yonhap) -- Business leaders of South Korea and Japan on Monday urged their governments to hold talks to improve strained bilateral ties and boost econo
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CJ Group to invest 20 tln won in original content, K-food

SEOUL, May 30 (Yonhap) -- South Korean food and entertainment giant CJ Group said Monday it will invest 20 trillion won (US$16.2 billion) over the next five years in new growth engines.Among them, CJ said it will invest 12 trillion won in growing its
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S. Korea to cultivate over 3,000 semiconductor talents by 2027: science ministry

DAEJEON, May 30 (Yonhap) -- South Korea aims to nurture over 3,000 semiconductor talents by 2027 to maintain its competitive edge in the global market that has faced a severe chip shortage in recent years, according to the science ministry Monday. Sc
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Foreign ministry launches in-house economic security center

SEOUL, May 30 (Yonhap) -- The foreign ministry launched an in-house economic security center Monday in order to better handle global supply chain issues following months of preparatory work.The Center For Economic Security and Foreign Affairs is task
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BOK chief to meet bank heads after back-to-back rate hike

SEOUL, May 30 (Yonhap) -- The chief of the Bank of Korea (BOK) was set to meet with heads of 10 local banks Monday in an effort to better communicate with the financial market in the wake of the central bank's latest back-to-back rate hike, his o
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Biz leaders of S. Korea, Japan discuss economic cooperation in annual conference

SEOUL, May 30 (Yonhap) -- Business leaders of South Korea and Japan on Monday held an annual conference to discuss economic cooperation in the areas of global value chains and exchanges of young talent in the post-pandemic era.The 54th South Korea-Ja
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Tax revenue up 34.5 tln won through April amid economic recovery

SEJONG, May 30 (Yonhap) -- South Korea has collected some 35 trillion won (US$28.2 billion) more in taxes in the first four months of the year compared to last year amid the economic recovery, the finance ministry said Monday.In the January-April per
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Insurers' Q1 net shrinks amid pandemic, declined asset value

SEOUL, May 30 (Yonhap) -- The combined net profit of insurance firms in South Korea dropped by more than 21 percent in the first quarter of this year amid the pandemic and a decline in asset value, regulator's data showed Monday.The net profit of
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S. Korea could face short-term financial shock over high inflation: poll

SEOUL, May 30 (Yonhap) -- South Korea faces greater chances of shocks that could cause a short-term crisis in the financial system than six months earlier due mainly to high inflation, a central bank poll showed Monday.According to the semiannual sur