Korea Joongang Daily
Korea JoongAng Daily

Government plans to increase, diversify Korea's startup ecosystems to promote balanced growth

The government will designate 10 cities to serve as major hubs for startup ecosystems by next year in a bid to promote balanced regional growth and create more jobs for young people, the Ministry of Finance and Economy said Friday.

2026-04-24

Korea's GDP posts fastest quarterly growth in more than 5 years: BOK

Despite the ongoing crisis in the Middle East, the Korean economy posted its fastest quarterly growth in five-and-a-half years in the first quarter, supported by solid exports and resilient domestic demand, central bank data showed on Thursday.

2026-04-23

Shin Hyun-song’s playbook: How new BOK chief diverges from his predecessor

Shin Hyun-song’s arrival as governor of the Bank of Korea (BOK) is poised to reshape Korea's monetary policy direction, with investors watching for a shift away from easing and a reassessment of the forces driving the won’s weakness.

2026-04-21

IMF projects Korea's real GDP per capita to lag behind Taiwan's by over $10,000 in five years

Korea’s real GDP per capita is projected lag behind Taiwan's by more than $10,000 in five years, according to forecasts released by the International Monetary Fund (IMF) earlier this week.

2026-04-19

BOK flags stagflation risk in worst-case Iran war scenario

The Bank of Korea (BOK) said that a worst-case escalation of tensions in the Middle East could tip the economy into stagflation and held the benchmark interest rate steady for a seventh straight meeting.

2026-04-10

Youth unemployment hits 5-year high despite Korea's strong job growth in February

Korea added 234,000 jobs in February, marking the fastest on-year growth in five months, though a slump in youth employment and the construction sector persisted, data showed Wednesday.

2026-03-18

Economy shows 'gradual' increase in production despite improved consumption: KDI

The Korean economy is showing continued signs of improved consumer sentiment, though production growth is still seen as “gradual” due to a prolonged slump in the construction sector, a state-run think tank said Thursday.

2026-03-12

SK Group's Chey sees 'social value,' not GDP, as key to unlocking Korea's future growth

SK Group Chairman Chey Tae-won called for a new growth model centered on social value to address Korea's low-growth economy during a forum on Tuesday.

2026-03-11

Korean economy grows 1% in 2025, while Q4 GDP contracts 0.2%: BOK

The Korean economy expanded 1 percent in 2025 amid strong exports but posted negative growth in the fourth quarter, central bank data showed Tuesday. The country's real GDP — a key measure of economic growth — contracted 0.2 percent.

2026-03-10

'Stagflation' concerns surge across global markets as tensions continue to rise in Middle East

Concerns about a so-called stagflation, in which stagnant growth coincides with high unemployment and high inflation rates, across global financial markets have spread as tensions continue to rise in the Middle East.

2026-03-08