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All 12 Nuri-deployed cube satellites establish ground communication
All 12 cube satellites deployed by South Korea's homegrown rocket Nuri last month have established communication with ground stations, their developers said Monday, setting a new milestone following the successful fourth launch of the space rocket. The 200-ton Nuri blasted off from Naro Space Center in the country's southern coastal village of Goheung, some 330 kilometers south of Seoul, on Nov. 27, placing the main and 12 cube satellites into orbit at an altitude of 600 kilometers. The Korea Ae
Dec. 8, 2025 -
Non-financial assets make up 65% of S. Korean household portfolios: report
Non-financial assets, including real estate, accounted for nearly 65 percent of South Korean household portfolios in 2024, a report showed Monday, highlighting the need to diversify investment to enhance liquidity. According to a study by the Federation of Korean Industries, non-financial holdings made up 64.5 percent of South Korean household portfolios, surpassing the United States at 32 percent, Japan at 36.4 percent and Britain at 51.6 percent. The survey also found South Koreans favored cas
Dec. 8, 2025 -
S. Korean, Japanese biz lobbies discuss AI, semiconductor cooperation
South Korean and Japanese business lobbies on Monday discussed ways to boost cooperation between the two countries in the artificial intelligence and semiconductor industries, along with key shared agendas, such as a population crisis. The Korea Chamber of Commerce and Industry and the Japan Chamber of Commerce and Industry held their annual conference on South Korea's southern resort island of Jeju, discussing ways to maintain momentum in bilateral exchanges, according to the KCCI. "With shuttl
Dec. 8, 2025 -
Finance minister calls for preparations to execute 2026 budget to prop up economy
Finance Minister Koo Yun-cheol on Monday urged government ministries to thoroughly prepare for the swift execution of their budgets for next year to drive economic growth and support people's livelihoods, his office said. "On Tuesday, the National Assembly passed the budget for 2026 within the legal deadline for the first time in five years," Koo said during a fiscal execution review meeting, attended by officials from the science, defense, culture, agriculture and other ministries. "As the budg
Dec. 8, 2025 -
Samsung Electronics poised to retake No. 1 spot in global DRAM market in Q4: sources
Samsung Electronics Co. is set to reclaim the top spot in the global market for dynamic random-access memory by revenue in the fourth quarter, overtaking its domestic rival SK hynix Inc., industry sources said Sunday. The South Korean tech giant is projected to post an operating profit of over 18 trillion won ($12.2 billion) in the October-December period, beating market expectations, according to the sources. Samsung's device solutions division, which oversees the company's semiconductor busine
Dec. 8, 2025 -
S. Korea's exports likely to decrease this year excluding semiconductor shipments
South Korea's exports are projected to exceed a record $700 billion in 2025, but shipments excluding semiconductors are expected to post an on-year decline, government data showed Sunday. Exports totaled $640.2 billion from January through November, up 2.9 percent from a year earlier and the highest level ever for the period, according to the Ministry of Trade, Industry and Resources. The previous record for the period was $628.7 billion in 2022. The government expects total exports this year to
Dec. 7, 2025 -
Korea’s cumulative current-account surplus hits record high in October
South Korea’s current-account surplus for the first 10 months of the year rose to an all-time high, supported by strong chip exports, despite the October monthly surplus eased from September because of fewer working days. The country posted a $6.81 billion surplus in October, down from $13.47 billion a month earlier, according to Bank of Korea data. South Korea has recorded a surplus every month since May 2023, marking a 30-month streak, the longest since the 84-month run that began in March 201
Dec. 5, 2025 -
S. Korea's current account surplus hits record $89.6b through Oct.
South Korea's current account surplus narrowed sharply from a month earlier in October as exports fell due mainly to fewer working days caused by the Chuseok holiday, but the cumulative surplus during the first 10 months of this year reached an all-time high, central bank data showed Friday. The country's current account surplus came to $6.81 billion in October, down from $13.47 billion a month earlier, according to data from the Bank of Korea. But the data marked the 30th consecutive month of s
Dec. 5, 2025 -
Exports for 2025 poised to surpass $700b for 1st time on chip, auto shipments
South Korea's yearly exports are expected to hit a record high in 2025 on the back of strong performance by key export items, such as semiconductors, automobiles and ships, the industry ministry said Thursday. From January to November, outbound shipments reached an all-time high of $640.2 billion for the period, compared with a previous record of $628.7 billion posted in 2022, the Ministry of Trade, Industry and Resources said. According to the ministry, annual exports for 2025 are poised to sur
Dec. 4, 2025 -
Export uncertainties eased as US confirms lowered tariffs for S. Korean auto, aircraft, lumber goods: minister
Uncertainties surrounding South Korea's exports have partially eased as the United States confirmed the lowering of tariffs on Korean automobile, aircraft and lumber imports on the Federal Register, Seoul Industry Minister Kim Jung-kwan said Thursday. "It is fortunate that the US administration has finalized tariff reductions on our major export items, such as automobiles and auto parts, aircraft and aircraft components, and lumber products, which are our largest export categories to the US," Ki
Dec. 4, 2025 -
S. Korea's foreign reserves rise to over 3-yr high in Nov.
South Korea's foreign reserves rose for the sixth consecutive month in November to reach a three-year high, the central bank said Wednesday. The country's foreign reserves had stood at $430.66 billion as of end-November, up $1.84 billion from a month earlier, according to the data from the Bank of Korea. It marked the highest level since August 2022, when the figure stood at $436.43 billion. The increase was largely attributable to an increase in investment income and a rise in foreign currency
Dec. 3, 2025 -
S. Korea posts 1.3% Q3 GDP growth, faster than initial estimate: BOK
South Korea's economy expanded at the fastest pace in nearly four years in the third quarter, buoyed by strong exports and improving private consumption, central bank data showed Wednesday. The real gross domestic product rose 1.3 percent in the July-September period from the previous quarter, 0.1 percentage point higher than the earlier estimate, according to preliminary data from the Bank of Korea. The reading marked the fastest quarterly expansion since the fourth quarter of 2021, when the ec
Dec. 3, 2025 -
OECD maintains S. Korea's 2025 growth outlook at 1 pct, projects improvement in 2026
The Organization for Economic Cooperation and Development on Tuesday maintained its growth forecast for the South Korean economy at 1 percent this year, while projecting an improvement in 2026, according to Seoul's finance ministry. "Growth is picking up," the OECD said in a report released by the ministry, noting the country's real gross domestic product, a key measure of economic growth, is expected to weaken to 1 percent in 2025 before rising to 2.1 percent both in 2026 and 2027. The latest 2
Dec. 2, 2025 -
BOK to step up monitoring of prices amid growing inflationary pressure
The central bank said Tuesday it will closely monitor consumer inflation given recent rising living costs, though it projects inflation to gradually trend down near 2 percent. Bank of Korea Deputy Gov. Kim Woong made the pledge during a meeting to review inflation trends, after government data showed consumer prices rose 2.4 percent on-year in November, remaining in the mid-2 percent range for the second consecutive month. "November's price increase was driven by higher petroleum product prices
Dec. 2, 2025 -
Rival parties settle deal on 2026 budget, clear way for Natl. Assembly to pass it Tues.
Rival parties have reached a last-minute deal on next year's national budget and agreed to pass it through the National Assembly on Tuesday, clearing the way for lawmakers to approve an annual budget bill within the legal deadline for the first time in five years. The ruling Democratic Party and the main opposition People Power Party reached the agreement during a meeting of their floor leaders earlier in the day and decided to hold a plenary session at 4 p.m. to put the budget bill to a vote. T
Dec. 2, 2025