Seoul, July 13 (IANS) Financially troubled discount store chain Homeplus said on Monday it has decided to temporarily close its outlets, starting Monday, due to a lack of operating capital and difficulties in maintaining store operations.The decision came after the Seoul Bankruptcy Court terminated Homeplus’ rehabilitation proceedings on July 3, saying the company had failed to secure at least 200 billion won (US$130 million) needed to carry out its self-rescue plan.The retailer, wholly owned by…
Latest First Vice Finance Minister Lee Hyoung-il News & Updates
Seoul, July 2 (IANS) South Korea’s consumer prices rose more than 3 per cent from a year earlier for two straight months in June, reflecting the lingering impact of the Middle East war on supply chains and oil prices, data showed on Thursday.Consumer prices, a key gauge of inflation, increased 3.2 percent last month from a year earlier, according to data from the Ministry of Data and Statistics. It marked the sharpest increase since December 2023, when the figure was at the same level.Prices of …
Seoul, May 6 (IANS) South Korea’s consumer prices rose at the fastest pace in 21 months in April, driven by soaring fuel costs amid the Middle East conflict, government data showed on Wednesday.Consumer prices, a key gauge of inflation, increased 2.6 percent from a year earlier last month, according to the data from the Ministry of Data and Statistics. It marks the largest on-year increase since July 2024, when inflation climbed 2.6 percent, reports Yonhap news agency.The latest rise was driven …