Gold price surges to record high due to weak US dollar, pandemic

Jul 29, 2020 17:58 pm UTC| Economy

The price of gold soared to a record high 80,100 won per gram on the Korea Exchange, up 3.41 percent from the previous session, and rising for a fifth straight session due to the weak US dollar and pandemic-induced...

US manufacturing sector recovery threatened by new coronavirus cases

Jul 28, 2020 23:08 pm UTC| Economy

Orders for key US-made capital goods excluding aircraft increased 3.3 percent last month, the most since July 2018. It followed a 1.6 percent rise in May. Core capital goods orders remained 3.2 percent below their...

Woori Bank's Q2 net profit plunges 45%

Jul 28, 2020 22:49 pm UTC| Economy

Woori Banks net profit for the second quarter slipped 45.28 percent on-year to 682.1 billion won due to the pandemic, low-interest rate set by the central bank, and hedge fund misselling. The bank was fined 19.7 billion...

S. Korea's auto production down 20% in first half

Jul 28, 2020 22:40 pm UTC| Economy

Production by South Koreas automakers dropped 19.8 percent to 1.63 million vehicles in the first half due to the pandemic to record an 11-year low. It was the lowest figure since the first half of 2009 when there were...

Ukraine's snail farming industry being wiped out by EU lockdowns

Jul 28, 2020 04:54 am UTC| Economy

Restrictions due to the coronavirus pandemic that hampered the global food industry are threatening to wipe out Ukraines snail farming industry. Most snail farmers in Ukraine rely heavily on sales to restaurants in...

Indian construction industry reeling from worker shortages

Jul 27, 2020 08:39 am UTC| Economy

Migrant construction workers who fled Indias cities when the pandemic started are too scared to return their former jobs, causing grim economic implications. Among them were the 80 percent of construction workers who...

Red capital: how Chinese companies wield political influence in Hong Kong

Jul 26, 2020 13:24 pm UTC| Economy

To Hong Kongs pro-democracy protesters, the passing of a new US law that removes Hong Kongs special economic status fits into their scorched earth, or laam caau, strategy. At its core is the protesters belief that the...