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Tag Archives: S. Korea’s

S.Korea’s exports of ICT products rise slightly in August

SEOUL: South Korea’s exports of information communication technology products rose slightly in August from a year earlier on a rise in shipments of key products, data showed Thursday. Outbound shipments of ICT products amounted to $14.44 billion last month, up 0.7 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. Imports ... Read More »

S.Korea’s KOSPO seeks 164,000 T coal for loading in September, October

SEOUL: Korea Southern Power Co Ltd (KOSPO) issued invitations to bid (ITB) seeking a total of 164,000 tonnes of steaming coal for loading in September and October via two spot tenders, the utility said on its website. The tenders will close at 11 a.m. (0200 GMT) on July 8, and the bids should be submitted to the designated e-mail address ... Read More »

S.Korea’s KOMIPO seeks 250,000T of bituminous coal for shipment

SEOUL: Korea Midland Power Co Ltd (KOMIPO) is seeking a total of 250,000 tonnes of bituminous coal for shipment between August and October via tenders, the utility said. The tenders will close at 2 p.m. (0500 GMT) on July 10. Bidders should submit their offers on a free-on-board-trimmed price basis only, and Russian and Chinese coal will not be considered ... Read More »

S.Korea’s EWP buys 60,000 tonnes coal for August

SEOUL: South Korea’s Korea East-West Power Co Ltd (EWP) bought 60,000 tonnes of Australian anthracite coal for August-loading via a tender, a source from the utility said on Monday. The utility declined to disclose supplier information, but other details are as follows: TONNES   SPECIFICATION(NCV)   PRICE(FOB/T)  LOADING SCHEDULE 60,000   min. 4,250kcal/kg    $52-53        August 2015   Read More »

S. Korea’s oil consumption rises on low crude prices

SEOUL: South Korea’s consumption of refined oil products rose solidly this year on low crude prices, industry data showed Wednesday, providing some relief to local refiners struggling to cope with slumping exports. Domestic consumption of refined petroleum products reached 283.7 million barrels in the January-April period, up 4.7 percent from a year earlier, according to the data by Korea National ... Read More »

S. Korea’s oil consumption rises on low crude prices

SEOUL: South Korea’s consumption of refined oil products rose solidly this year on low crude prices, industry data showed Wednesday, providing some relief to local refiners struggling to cope with slumping exports. Domestic consumption of refined petroleum products reached 283.7 million barrels in the January-April period, up 4.7 percent from a year earlier, according to the data by Korea National ... Read More »

Married couples in South Korea receive smallest tax breaks among OECD

SEOUL: Married couples in South Korea received one of the smallest tax breaks among other advanced economies, a study showed Tuesday, although the government has been trying to promote marriage to tackle low birth rates. The effective income tax rates for singles ranged between 0.9 and 13 percent in 2013, which was 0.2-0.6 percentage point more than those for married ... Read More »

S Korea’s bank loans surge in March on low interest rates

SEOUL: Household loans among South Korean banks surged in March amid record-low interest rates and a recovering housing market, financial watchdog data showed Monday.Outstanding loans extended by banks amounted to 1,278.3 trillion won (1.18 trillion U.S. dollars) as of end-March, up 4.6 trillion won, or 0.4 percent, from a month earlier, according to the Financial Supervisory Service (FSS). Among them, ... Read More »

S Korea’s bank loans surge in March on low interest rates

SEOUL: Household loans among South Korean banks surged in March amid record-low interest rates and a recovering housing market, financial watchdog data showed Monday.Outstanding loans extended by banks amounted to 1,278.3 trillion won (1.18 trillion U.S. dollars) as of end-March, up 4.6 trillion won, or 0.4 percent, from a month earlier, according to the Financial Supervisory Service (FSS). Among them, ... Read More »

S Korea’s business sentiment rises to one-year high

SEOUL: Confidence among South Korean businesses rose to the highest in a year, keeping an upward trend for three straight months, central bank data showed Wednesday.Business survey index (BSI) for manufacturers stood at 80 in April, up 3 points from a month earlier, according to the Bank of Korea (BOK). It was the highest since April 2014 when the index ... Read More »

S Korea’s business sentiment rises to one-year high

SEOUL: Confidence among South Korean businesses rose to the highest in a year, keeping an upward trend for three straight months, central bank data showed Wednesday.Business survey index (BSI) for manufacturers stood at 80 in April, up 3 points from a month earlier, according to the Bank of Korea (BOK). It was the highest since April 2014 when the index ... Read More »

S. Korea’s economy 0.8 percent on-quarter in January-March period

SEOUL: South Korea s economy picked up momentum in the first quarter due to increased construction and consumer spending, the central bank said Thursday. The economy grew 0.8 percent on-quarter in the January-March period, up from a revised 0.3 percent growth in the previous quarter, the Bank of Korea said. From a year earlier, the fourth-largest Asian economy expanded 2.4 ... Read More »

S Korea’s car exports tumble in Q1 to 720,000 vehicles

SEOUL: Auto exports by South Korean carmakers tumbled in the first quarter amid a surge in foreign luxury car imports, customs data showed Wednesday. The country’s car exports amounted to 10.2 billion U.S. dollars, or 720,000 vehicles, in the first quarter, down 10.1 percent from a year earlier, according to Korea Customs Service (KCS). Imports of foreign luxury cars surged ... Read More »

Green Climate can help developing countries deal with environmental issues: South Korea

SEOUL: Finance Minister Choi Kyung-hwan urged the Group of 20 major economies to lend support to the Green Climate Fund (GCF), an organization that helps developing countries tackle climate change-related problems, in Washington. In a meeting held immediately after the G-20 financial ministerial gathering, Choi said the GCF can help developing countries deal with environmental issues, adding that climate change ... Read More »