Cheap Chinese goods are flooding into Korea amid the growing presence of Chinese e-commerce platforms, creating both favorable and unfavorable circumstances for the Korean economy as it tries to lessen reliance on China, according to scholars and consumer groups, Friday.
The Korean economy is expected to undergo a highly uneven recovery as a toxic cocktail of rising inflation, high interest rates and a weakening Korean won are set to hamper growth in the second half of this year, according to analysts, Thursday.
The Korean economy expanded for the second consecutive quarter in the April-June period, as imports shrank at a faster pace than exports, which contributed to a net growth in trade.
Korea’s overall industrial ecosystem is represented by the existence of the chaebol, a combination of the Korean words “jae” (wealth) and “beol” (clan or clique). It also stands for plutocracy and rich business families.
A delay in the initiation of a public vaccination program will end up forcing the Korean economy to contract in 2021 as it will likely drag down consumer spending and business activities, a local think tank said in a report, Wednesday. According to an analysis conducted by the Korea Economic Research Institute (KERI), the country’s […]
