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1 week ago | 
businesskorea.co.kr | Jung Min-hee
The government has decided to issue an additional 19.8 trillion won in government bonds as part of its second supplementary budget of 30.5 trillion won. Unlike the first supplementary budget, the government has managed to secure about 10 trillion won by reducing expenditure by over 5 trillion won and partially utilizing available funds. However, 65% of the entire supplementary budget still relies on deficit bonds.
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1 week ago | 
businesskorea.co.kr | Jung Min-hee
President Lee Jae-myung approved a second supplementary budget of 30.5 trillion won at a cabinet meeting on June 19. This budget was compiled within 15 days of Lee’s election, making it the fastest supplementary budget in history based on the election date. In terms of scale, it ranks fourth in history. During the budget review, Lee stated, “While the principle of sound finance is important, the current economic downturn is too severe.
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1 week ago | 
businesskorea.co.kr | Jung Min-hee
Israel launched an airstrike on Iran’s Arak nuclear facility on June 19 (local time), prompting Iran to immediately retaliate by firing at least 20 missiles. The Israeli military officially announced that it had attacked the Arak heavy water nuclear facility in the morning. Iranian state TV also reported that the facility had been hit.
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1 week ago | 
businesskorea.co.kr | Jung Min-hee
Jerome Powell, chair of the U.S. Federal Reserve System (Fed), projected that the effects of tariffs on price increases and economic slowdown will materialize in the coming months. Consequently, he stated that the Fed would maintain its wait-and-see approach, observing future developments before adjusting the benchmark interest rate.
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1 week ago | 
businesskorea.co.kr | Jung Min-hee
More than half of Korean businesses recognized that Korea-Japan economic cooperation has contributed to Korea’s economic growth and that going forward, cooperation should remain steadfast. Businesses noted that the most promising areas for cooperation between the two countries were in advanced industries, including semiconductors and AI.
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1 week ago | 
businesskorea.co.kr | Jung Min-hee
Given the importance of gender equality and inclusive leadership everywhere in the world, Dulwich College Seoul (DCSL) has distinguished itself as a pioneer of progress in Korea’s international education sector. Located in Seoul’s Seocho district, the British international school is home to 700 students aged 3 to 18 representing over 46 nationalities. Over the past academic year, DCSL has implemented a series of initiatives focused on advancing gender equity.
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1 week ago | 
businesskorea.co.kr | Jung Min-hee
Seoul apartment prices have more than doubled over the past decade, rising 2.5 times, according to recent data. Seongdong-gu showed the highest increase in apartment sale prices, followed by Seocho, Yongsan, Songpa, and Gangnam districts. Notably, Yeongdeungpo-gu surpassed Mapo-gu in price growth, influenced by recent development initiatives in the southwest region.
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1 week ago | 
businesskorea.co.kr | Jung Min-hee
The Bank of Korea (BOK) has diagnosed that the complexity of inflation uncertainties makes it difficult to achieve price stability through monetary policy alone. While the consumer price inflation rate remains near the 2% range, the burden of perceived inflation on ordinary citizens and the polarization of housing prices in the metropolitan area continue to pose significant challenges for policy implementation.
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1 week ago | 
businesskorea.co.kr | Jung Min-hee
The interests of foreign customers visiting Korea are expanding from K-Beauty to K-Wellness. CJ Olive Young said on June 18 that its analysis of offline foreign purchase data in Korea from January to May this year showed that sales of wellness brands increased by more than 30% compared to the same period last year.
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1 week ago | 
businesskorea.co.kr | Jung Min-hee
A decline in global oil prices last month led to an almost 4 percent drop in the overall price level of imported goods in South Korea. According to import and export price index data released by the Bank of Korea (BOK) on June 17, the import price index for May -- based on preliminary figures calculated in Korean won, with 2020 as the base year and the index set at 100 -- stood at 134.63, down 3.7 percent from the previous month.
