Latest news and articles about korean economy from NEX English
The Central Bank of Korea has kept its key interest rate unchanged at <strong>2.50%</strong>, amidst a clear division among its seven members regarding monetary policy. Predictions suggest a potential rate hike in upcoming meetings to combat inflation and support the currency.
The Korean central bank announced it will keep the main interest rate steady at <strong>2.50%</strong> amid rising inflation fears and a weakening local currency. This decision follows a careful assessment of geopolitical risks and their impact on the economy.
The South Korean Ministry of Trade and Industry reported a 5.5% drop in car exports in April 2026, totaling $6.17 billion. This decline coincides with ongoing tensions in the Middle East, affecting global oil prices.
South Korean stocks closed at record levels on Friday, marking the strongest week in over 17 years, driven by a surge in artificial intelligence and technology shares. This significant increase reflects a notable market recovery.
Economic forecasts suggest that the <strong>Korean won</strong> may experience a significant recovery in the second quarter of this year, returning to levels seen before the U.S.-Iran war. This anticipated recovery is attributed to declining oil prices and increased foreign investment in the Korean stock market.
The South Korean Ministry of Finance announced a significant increase in the national debt, surpassing 1,300 trillion won, equivalent to $861.2 billion. This rise raises concerns about the country's financial sustainability as the debt-to-GDP ratio approaches 50%.
The South Korean stock market has experienced a dramatic shift, moving from one of the best-performing markets in 2026 to a significant decline in March. This downturn is attributed to the fading factors that previously boosted its performance, such as falling energy prices and a booming semiconductor industry.
South Korean President <strong>Lee Jae-myung</strong> urged the National Assembly to expedite the approval of a supplementary budget to tackle the economic fallout from the ongoing war in the Middle East. He emphasized the need for extraordinary measures to stabilize the economy.
South Korean stocks fell by 3% on Monday, with the Kospi index closing down by 161.57 points at 5,277.30. The won also depreciated by 0.5%, reaching 1,518.7 won per dollar, marking its lowest level since March 2009 amid rising geopolitical tensions.