Ministry of Economy and Finance
Emergency Meeting on Macroeconomic and Financial Affairs (Dec.30, 2024)
The Ministry of Economy and Finance (MOEF), the Bank of Korea (BOK), the Financial Services Commission (FSC), and the Financial Supervisory Service (FSS) held an Emergency Meeting on Macroeconomic and Financial Issues[1] at the Korea Federation of Banks on December 30. Presided o...
Dec 30,2024
Ministry of Economy and Finance
Current Status of Industrial Activities (November, 2024)
In November, the entire industry production saw a slight decline (-0.4% m-o-m, -0.3% y-o-y) owing to weaknesses in the construction sector (-0.2% m-o-m, -12.9% y-o-y). Although industrial production dropped (-0.7% m-o-m) due to disruptions caused by strikes at auto parts manufact...
Dec 30,2024
Ministry of Trade, Industry and Energy
Trade Minister chairs 58th Industrial Technology Protection Committee meeting
Minister for Trade Inkyo Cheong of the Republic of Korea chaired the 58th Industrial Technology Protection Committee (“Committee”) meeting today in Seoul for deliberation and resolution on six agenda items, including the fifth Comprehensive Plan on Prevention of Divul...
Dec 27,2024
Bank of Korea
Interest Rates (Nov 2024)
□ In November 2024, the average interest rate on new deposits was 3.35%, down 2 basis points from the previous month.
― The average interest rate on outstanding amounts of deposits as of end-November was 2.53%, down 4 basis points from the previous month.
□ In Novembe...
Dec 27,2024
Bank of Korea
Business Survey and Economic Sentiment Index (ESI) for Dec 2024
□ The Composite Business Sentiment Index (CBSI) in all industries for Dec 2024 was 87.0, down 4.5 points from the previous month, and that for the outlook for the following month also fell by 7.3 points to 82.4.
― In the manufacturing sector, the CBSI for Dec 2024 was 86.9, ...
Dec 27,2024
Ministry of Foreign Affairs
Outcome of Korea-Japan Vice Foreign Ministers’ Meeting
1. Vice Minister of Foreign Affairs Kim Hong Kyun held a meeting with Vice Minister for Foreign Affairs of Japan Okano Masataka in Tokyo, Japan, on Thursday, December 26, and exchanged views on bilateral relations, Korea-Japan and Korea-U.S.-Japan cooperation, and North Korea iss...
Dec 26,2024
Ministry of Land, Infrastructure and Transport
Korea’s Land Price Rose 0.59% in Q3
Land prices nationwide increased by 0.59% in the 3rd quarter of 2024 rising 0.04%p from the previous quarter, whereas land transaction volume in the same quarter decreased by 0.1% compared to the 2nd quarter of the year
The Ministry of Land, Infrastructure and Transport (MO...
Dec 26,2024