Heesu Lee

Reporter at Bloomberg News

@business reporter | #MizzouMafia | Views are my own & RTs are not endorsements

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Articles

Korea's Early Trade Data Rebound Ahead of Tariff Deadline

5 days ago | financialpost.com | Heesu Lee

Article content(Bloomberg) — South Korea’s early trade data rebounded, offering signs of resilience as Seoul works to advance talks with Washington before across-the-board tariffs are set to rise in early July. Sign In or Create an AccountArticle contentThe value of shipments rose 8.3% in the first 20 days of June from a year earlier, customs data showed Monday. That compared with a 1.3% drop in the full month of May. Imports rose 5.3%, resulting in a trade surplus of $2.62 billion.
Korea’s Early Exports to US Jump Ahead of Tariff Deadline

5 days ago | bloomberg.com | Heesu Lee

(Bloomberg) -- South Korea’s early trade data for June showed the biggest rise in exports to the US so far this year, indicating that manufacturers may have rushed shipments ahead of a July deadline that will see broad tariffs rates more than double. The value of shipments to the US rose 4.3% in the first 20 days of June from a year earlier, customs data showed Monday. It was the first increase since March, and it marked a rebound after a 8.1% drop in US-bound shipments in the full month of May.
South Korea’s Record Surplus With US Adds Strain to Tariff Talks

1 week ago | bloomberg.com | Heesu Lee

Hyundai Motor vehicles loaded onto a cargo ship at a port in Ulsan, South Korea. (Bloomberg) -- South Korea’s current account surplus with the US surged to a record high last year, highlighting the challenge President Lee Jae Myung faces as he seeks to secure a trade deal with Donald Trump. The surplus reached $118.2 billion in 2024, the highest on record, the Bank of Korea said Friday.
South Korea Plans $22 Billion Extra Budget as Tariffs Hit Growth

1 week ago | bloomberg.com | Heesu Lee

South Korean president Lee Jae-myung during his inauguration ceremony. (Bloomberg) -- South Korea unveiled an extra budget worth billions of dollars, in a bid to support an economy struggling with sluggish consumption and mounting trade headwinds from Donald Trump’s tariffs. The 30.5 trillion won ($22.2 billion) proposal includes 15.2 trillion won for economic stimulus and 5 trillion won for supporting livelihoods like small businesses, the finance ministry said in a statement.
BOK Warns of Inflation Risks From US Tariffs, Israel-Iran Crisis

1 week ago | bloomberg.com | Heesu Lee

(Bloomberg) -- While South Korea’s inflation has stabilized near the central bank’s 2% target, US tariffs and the Israel-Iran conflict are adding uncertainty to the outlook, according to the Bank of Korea. Households also remain burdened by high costs of essentials like food and housing, the BOK said in a semiannual review of inflation published Wednesday.
South Korea Household Loans Climb, Adding to BOK, Regulator Concern

2 weeks ago | bloomberg.com | Heesu Lee

(Bloomberg) -- South Korea’s bank lending to households climbed the most in nine months, an increase that adds to concerns over growing debt at the central bank and the financial regulator as policymakers assess how much support to give the sputtering economy. The value of loans rose by 5.2 trillion won ($3.8 billion) in May from a month earlier in the biggest increase since September 2024, according to Bank of Korea data Wednesday. Housing loans also posted the sharpest gains in nine months.
South Korea Appoints Yeo as Trade Minister to Lead Talks With US

2 weeks ago | bloomberg.com | Heesu Lee

Yeo Han-koo(Bloomberg) -- South Korean President Lee Jae-myung appointed Yeo Han-koo, a seasoned trade negotiator, as the new trade minister to guide the country through ongoing tariff talks with the US. Currently a senior fellow at the Peterson Institute for International Economics in Washington, Yeo previously served as South Korea’s trade minister in 2022 during the final year of the Moon Jae-in administration. With 30 years of public service, Yeo holds an MBA from Harvard Business School.
Los surcoreanos votan por un nuevo presidente tras su peor crisis constitucional

3 weeks ago | bloomberglinea.com | Soo-hyang Choi |Heesu Lee

Bloomberg — Los surcoreanos acuden el martes a las urnas para elegir a un nuevo presidente después de que un intento de imponer la ley marcial a finales del año pasado desencadenara su peor crisis constitucional en décadas. El candidato del opositor Partido Demócrata, Lee Jae-myung, era el favorito por delante del candidato conservador del gobernante Partido del Poder Popular, Kim Moon-soo, en los últimos sondeos realizados la semana pasada.
South Korea Votes for New Leader to Heal Nation, Spur Growth

3 weeks ago | bloomberg.com | Soo-hyang Choi |Heesu Lee

A voter casts their ballot at a polling station in Incheon, South Korea. (Bloomberg) -- South Koreans headed to the polls Tuesday to elect a new president after an attempt to impose martial law at the end of last year triggered its worst constitutional crisis in decades. Opposition Democratic Party nominee Lee Jae-myung was the frontrunner ahead of conservative ruling People Power Party candidate Kim Moon-soo in final polls conducted last week.
Diretor do Fed traça caminho para cortes de juros nos EUA ainda neste ano

3 weeks ago | bloomberglinea.com.br | Reade Pickert |Heesu Lee

Bloomberg — O diretor do Federal Reserve, Christopher Waller, disse que ainda vê um caminho para cortes de juros este ano, em meio às suas expectativas de que as tarifas aumentarão o desemprego e elevarão temporariamente a inflação. Waller afirmou que as tarifas elevarão a inflação nos “próximos meses”, mas defende relevar qualquer aumento de curto prazo nos preços ao definir a política monetária, desde que as expectativas de inflação permaneçam ancoradas.