Seoul, May 13 (IANS) The South Korean economy is projected to expand 2.5 per cent in 2026, supported by strong growth in the semiconductor industry and a recovery in domestic consumption, a state-run think tank said on Wednesday.The Korea Development Institute (KDI) raised its 2026 growth forecast from 1.9 per cent projected in February, noting that the country has maintained solid export growth driven by semiconductors despite a challenging business environment, including Washington’s tariff po…
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Seoul, April 7 (IANS) Downside risks to the South Korean economy are increasing amid the prolonged conflict in the Middle East as rising global oil prices and supply chain disruptions could have broader negative impacts on prices, consumption and exports, a state-run think tank said on Tuesday.”The economy, which had shown a gradual recovery, is now facing heightened downside risks due to surging oil prices and growing global supply chain uncertainties stemming from the conflict in the Middle Ea…
Seoul, Dec 28 (IANS) South Korean President Lee Jae Myung has nominated veteran economist and former three-term lawmaker from the conservative camp, Lee Hye-hoon, as the new Minister for Planning and Budget, the presidential office said Sunday. Lee was tapped as the inaugural head of the Ministry of Planning and Budget, which will be installed under the Prime Minister’s Office as part of a government reorganisation bill set to take effect in January, Presidential Secretary for Public Relations a…