Business Topics

Poverty turns Seoul seniors into subway couriers

| Dec 17, 2016

Poverty turns Seoul seniors into subway couriers

Cho Yong-moon, 75, spends nine hours a day, five days a week using his free pass on the Seoul subway to shuttle parcels among clothing and jewelry stores. With pension payments falling short of living costs for many of the elderly, he is among ...

BOJ may upgrade economic assessment on heels of Fed rate hike

Dec 16, 2016

BOJ may upgrade economic assessment on heels of Fed rate hike

The Bank of Japan is considering upgrading its assessment of the nation’s economy at its monetary policy meeting next week on the back of a global economic recovery, according to sources. The BOJ may revise up its assessment as the country’s exports and production ...

Dec 14, 2016

South Korea's youth unemployment rate rises to record high

South Korea’s youth unemployment rate rose to a record high in November, following political protests that paralyzed the government and led parliament to vote to impeach the president. The unadjusted jobless rate for people aged 25 to 29 rose to 8.2 percent in November, ...

Dec 12, 2016

Japan's wholesale prices decline for 20th month straight

Wholesale prices dropped 2.2 percent in November as lower oil prices helped drag the downtrend into its 20th consecutive month, Bank of Japan data showed Monday. The result underscores the fact that the central bank faces a difficult challenge in attaining its 2 percent ...

Core private-sector machinery orders rose 4.1% in October

Dec 12, 2016

Core private-sector machinery orders rose 4.1% in October

Core private-sector machinery orders rose a seasonally adjusted 4.1 percent in October from the previous month, lifted by strong growth in the nonmanufacturing sector, the government said Monday in maintaining its basic assessment. The orders, which exclude those for ships and from utilities because ...

Trump to tap Goldman chief Cohn as head of National Economic Council

Dec 10, 2016

Trump to tap Goldman chief Cohn as head of National Economic Council

U.S. President-elect Donald Trump will likely ask a senior Goldman Sachs banker to coordinate economic policy across his administration, turning again to Wall Street for expertise in managing the world’s largest economy, a transition official said on Friday. Trump’s pick of Goldman President Gary ...