Ryu Young-wook

1 week ago | pulse.mk.co.kr | Ryu Young-wook |Han Yubin

Global ratings agency S&P affirmed its “AA” sovereign credit rating for South Korea with a stable outlook, citing the country’s resilience despite its recent periods of political turmoil. S&P said on Tuesday that the ramifications of the martial law declaration in 2024 and the presidential impeachment remain limited with Korea’s stable democratic and economic systems.

1 month ago | pulse.mk.co.kr | Choi Ye-bin |Ryu Young-wook |Han Yubin

South Korean economy is facing growing fears of an economic recession as consumption shrinks significantly and job market suffers a severe downturn. According to the Ministry of Employment and Labor on Monday, the unemployment benefit payments provided to jobless applicants stood at 1.07 trillion won as of February, up 11.5 percent compared to the same month a year ago. The number of new applicants for job-seeking benefits reached 117,000, up 25.1 percent.

2 months ago | pulse.mk.co.kr | Ryu Young-wook |Han Yubin

South Korea unveiled plans to reform its pension fund investment system. The reforms include leveraging pension funds and surplus capital from public institutions while coming up with new investment strategies, including access to investments in domestic exchange-traded funds (ETFs) and inclusion of ordinary securities firms into eligible asset management firms in the system. The Ministry of Economy and Finance outlined the plan in a recent announcement.