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News Tag: South Korea

September 1, 2011

South Korea inflation jumps to three-year high

by Kay Mitchell
”South
Statistics Korea has today revealed South Korea’s inflation rate jumped to a three-year high of 5.3% in August as food costs continued to rise. The rate is up from 4.7% in July and represents the eighth consecutive month that inflation has been above the central bank’s target of 4%. Inflationary pressures are rife throughout the world, but particularly in Asia; Hong Kong’s ...




August 31, 2011

Philippines economic growth slows in Q2

by Kay Mitchell
”Philippines
The National Statistical Coordination Board has revealed the Philippine economy grew at an annual rate of 3.4% in the second quarter – slowing from an annual growth of 4.6% in the previous quarter. The expansion was less than the 4.4% expected by economists. Compared with the previous three months, the economy, which is South East Asia’s fifth largest, grew by 0.6%. The slowdown ...




July 27, 2011

South Korean economy sees slowdown in Q2

by Kay Mitchell
”South
South Korea, which is Asia’s fourth largest economy, has experienced growth of 3.4% in the second quarter on an annual basis, down from 4.2% in the previous quarter, according to official data today. Meanwhile, quarter-on-quarter growth was 0.8%, down from 1.3% as exports slowed and manufacturing weakened. "Private consumption steadily increased and facilities investment rose. But growth in exports slowed while construction ...




May 13, 2011

South Korea holds interest rates despite rising inflation

by Kay Mitchell
South Korea holds interest rates despite rising inflation
South Korea’s central bank has today elected to hold interest rates for the second consecutive month despite rising inflation. The move surprised analysts who had forecast a 0.25% rise. The latest figures from Statistics Korea showed the consumer price index hit 4.2% in April on an annual basis. The rate is higher than the central bank’s 2%-4% target and this, together ...




April 27, 2011

South Korean economy sees better than expected growth

by Kay Mitchell
South Korean economy sees better than expected growth
South Korea, which is Asia's fourth largest economy, has experienced growth of 4.2% in the first quarter on an annual basis, according to official data today. The economy grew by 1.4% in the January to March quarter from the previous three months - the fastest rate in nine months. The better than expected growth was attributed to rising exports and ...




April 13, 2011

South Korea lifts inflation forecast

by Kay Mitchell
South Korea lifts inflation forecast
The Bank of Korea has lifted its inflation forecast for the 2011 year as food and oil prices rise. Inflationary pressures are rife in Asia and many central banks have opted to hike interest rates in an attempt to combat rising prices. The latest figures from Statistics Korea showed the consumer price index rose by 4.7% in March on an annual basis - a ...




April 1, 2011

South Korean inflation surges to 29-month high

by Kay Mitchell
South Korean inflation surges to 29-month high
Statistics Korea has today announced the inflation rate has jumped to a 29-month high – driven by higher food and fuel costs. According to Statistics Korea, the consumer price index rose by 4.7% in March on an annual basis. The rate is now at the higher end of the central bank’s 2%-4% target. On a monthly basis, the index rose 0.5% following ...




March 10, 2011

South Korea lifts rates to combat inflation

by Kay Mitchell
South Korea lifts rates to combat inflation
South Korea’s central bank has today elected to lift interest rates in order tame high inflation. The move did not come as a surprise to analysts after the bank lifted its main interest rate from 2.75% to 3%. Analysts believe more rate hikes are on the cards, with many predicting rates to be between 3.5% and 3.75% by the end ...




March 3, 2011

South Korea industrial output hits 17-month high

by Kay Mitchell
South Korea industrial output hits 17-month high
Statistics Korea today said South Korea's industrial output has expanded at its fastest pace since September 2009. Output grew by 4.6% in January compared with December, while on an annual basis, output grew by 13.7% - much higher than the 10.6% annual gain posted in December. The figures easily beat analysts expectations of a 1.4% month-on-month gain and an annual 12.5% ...




March 2, 2011

South Korean inflation surges to 27-month high

by Kay Mitchell
South Korean inflation surges to 27-month high
Statistics Korea has today announced the inflation rate has jumped to a 27-month high - driven by higher food and fuel costs. According to Statistics Korea, the consumer price index rose by 4.5% in February on an annual basis. The rate is now at the higher end of the central bank’s 2%-4% target. Analysts believe the latest figures will lead the central ...




February 11, 2011

South Korea holds interest rates despite inflationary pressures

by Kay Mitchell
South Korea holds interest rates despite inflationary pressures
South Korea's central bank has elected to keep interest rates on hold despite rising inflation. The move surprised analysts who had expected a further rate rise after last month’s increase to 2.75%. However, analysts believe rates will be increased next month, with many predicting rates to be between 3.5% and 3.75% by the end of 2011. Inflation is currently around the ...




January 26, 2011

South Korea economic growth slows in Q4

by Kay Mitchell
”South
South Korea‘s economy, which is Asia’s fourth-largest, saw growth slow to 0.5% in the October to December period. Last year, the economy expanded strongly - boosted by exports and increasing consumption and facilities investment. However, retail spending and manufacturing and construction slowed, which was attributed to the slowdown. The Bank of Korea were optimistic about the figures, however, and said growth will pick ...




November 12, 2010

G20 moves to resolve trade imbalances

by Kay Mitchell
’G20
The G20 group of nations have agreed to avoid "competitive devaluation" of currencies in what has been regarded as a tense summit in Seoul, South Korea. Most notably were the tensions between the US and China. The US has previously expressed dissatisfaction that China is keeping the value of the yuan low to help its exporters at the expense of overseas competitors. ...




November 11, 2010

Mervyn King urges G20 leaders to stand firm over trade imbalances

by Kay Mitchell
’Mervyn
The Bank of England Governor, Mervyn King, is urging the group of G20 nations to address the issue of trade imbalances. His comments echoed those of the US who said it wants the G20 group of nations to agree to curtail “excessive imbalances” in world trade. Mr King said: "We are very much in the position that we ...




Tension mounts ahead of G20 summit in South Korea

by Kay Mitchell
’Tension
Several topics are set to be high on the agenda at today’s G20 gathering in South Korea. The group of G20 nations, which accounts for about 85% of the global economy, comprise the world's 19 leading national economies (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Republic of Korea, Turkey, ...




October 24, 2010

G20 moves to prevent currency war

by Kay Mitchell
’G20
A gathering of finance ministers and central bankers in Gyeongju, South Korea, has taken place this weekend and high on the agenda was the threat of a currency war. The currency issue was left unresolved earlier this month after the International Monetary Fund (IMF) and World Bank annual meeting in Washington failed to reach an agreement. Some Governments have been accused of manipulating ...




October 14, 2010

South Korea leaves interest rates on hold

by Kay Mitchell
South Korea leaves interest rates on hold
The Bank of Korea (BoK) has today opted to leave interest rates on hold at 2.25% - for the third consecutive month. The decision surprised many economists who had expected rates to be lifted to 2.5%. The central bank left interest rates at the record low 2% for 17 months following the global economic downturn but raised it to 2.25% in July. Commenting ...




July 26, 2010

S.Korea economy expands 1.5% in Q2

by Kay Mitchell
”S.Korea
Figures today revealed South Korea's economy grew by 1.5% in the second quarter compared with the first quarter - much faster than economists had expected. On an annual basis, the economy expanded by 7.2% and, according to the central bank, growth has returned to the pre-crisis level. According to economists, the level of growth could lead the Bank of Korea to increase ...




June 16, 2010

China ranked bottom for ethical investment

by David Masters
China ranked bottom for ethical investment
Ethical investors looking to put money into emerging market economies should avoid China, Egypt and Vietnam, the Ethical Investment Research Service (Eiris) has claimed. Research by the group found these three countries to be the worst performers in terms of Environmental, Social, and Governance indicators. The three best-performing emerging market countries were South Korea, Brazil, and Mexico. Both Brazil and Mexico scored higher on ...




June 6, 2010

G20 nations address global economic issues

by Kay Mitchell
’G20
G20 finance ministers and central bank governors from the world’s top 20 developed and emerging economies have met in South Korea this weekend and have said excessive budget deficits should be dealt with immediately. The agenda was believed to be discussing the need for common standards across financial markets, including a global bank tax - however there was no mention ...