Tag: increase

increase

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The Bank of Korea's (BOK) deputy governor, Ryoo Sang-dai, speaks at a forum co-hosted by the Korean Statistical Society at the BOK headquarters in Jung District, central Seoul, on Sept. 9, 2025. [BANK OF KOREA]

BOK official suggests potential shift from rate cuts to hikes amid strong growth, inflation pressure

A senior Bank of Korea (BOK) official signaled that the central bank may need to stop cutting rates and begin considering hikes, as stronger-than-expected growth and rising inflation pressures shift the policy outlook.

2026.5.4

A dry cleaning machine is operated in a laundry shop in Seoul on April 19, 2023. [NEWS1]

Service sector price hikes outpace overall consumer inflation rate

Laundry bills, haircuts and other everyday service costs are rising faster than headline inflation in Korea as higher oil and materials prices linked to the Middle East war spread through the broader economy.

2026.4.26

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Vinyl products are stacked at a store in Jung District, central Seoul, on April 22. [NEWS1]

Naphtha prices surge 68% in March, driving sharpest producer price hike in 4 years

Naphtha prices surged 68 percent in March, driving Korea’s producer prices to their sharpest monthly increase in nearly four years, the Bank of Korea said Wednesday.

2026.4.22

Containers ready for export are piled up at a port in Incheon on Feb. 1. [NEWS1]

Exports projected to rise nearly 13% in Q1 on robust chip demand: Exim Bank

Korea's exports are expected to increase by nearly 13 percent from a year earlier in the first quarter, driven by strong global demand for semiconductors, the state-run Export-Import Bank of Korea said Wednesday.

2026.2.4

People are seen shopping for groceries at a large supermarket in Seocho District, southern Seoul on Feb. 2. [NEWS1]

Consumer prices rise 2% in January, slowest pace in 5 months

Korea's consumer prices rose at the slowest pace in five months in January, partly helped by the steady prices of petroleum products, government data showed Tuesday.

2026.2.3

The photo shows the newborn unit at MizMedi Hospital in Gangseo District, western Seoul, on Feb. 26. [JUN MIN-KYU]

Parental leave reaches record high in 2024 on increased births, support measures

The number of Korean workers taking parental leave reached a record high in 2024, data showed Wednesday, largely due to a rise in the number of births last year and the effects of government policies promoting parental leave.

2025.12.17

People walk near the Nakwon Instrument Arcade in central Seoul on July 29. [YONHAP]

'No one to turn to': Number of 'solitary deaths' rose 7.2% in 2024

A man in his 50s who lived alone in a multi-unit house in Seoul was found dead in May last year when his landlord visited to collect overdue rent. He had no steady job and had been out of contact with family since divorcing about a decade earlier.

2025.11.27

A Kyochon Chicken store in central Seoul in 2023 [NEWS1]

Korea's fried chicken chains reduce portions amid rising costs

Korean fried chicken chains are reducing portions amid rising costs, without changing prices.

2025.9.13

A general consultation room at the Seoul Northern Regional Headquarters of the National Pension Service is seen on March 17. [YONHAP]

Some national pension contributions set to rise as new criterion take effect in July

A new national pension criterion will take effect starting in July, raising some subscribers' monthly contributions by up to 18,000 won ($13).

2025.6.29

A newborn cries in the neonatal unit at Korea University Guro Hospital in Guro District, western Seoul, on May 28. [NEWS1]

Korea experiences highest April birthrate increase in 34 years on back of post-Covid marriage surge

The number of babies born in Korea in April saw the highest year-on-year increase for that month in 34 years, driven by a rebound in marriages and government efforts to support childbirth.

2025.6.25