South Korean economy sees biggest growth in seven years

August 23rd, 2009 SEOUL - South Korean President Lee Myung-bak held talks with a visiting North Korean delegation here Sunday amid Pyongyang's latest conciliatory moves that show signs of easing tensions on the Korean Peninsula, media reports said. A high-level North Korean delegation arrived here Friday to pay their last respect to late former South Korean president Kim Dae-jung who died recently.

August 18th, 2009 Report: Former South Korean president diesSEOUL, South Korea — Yonhap news agency says former South Korean President Kim Dae-jung has died. The 85-year-old leader had been hospitalized since last month for pneumonia.

August 17th, 2009 SEOUL - North Korea Monday said it was reopening its borders for inter-Korean tourism projects with South Korea and to remove obstacles from the operation of a jointly-run business park, the South Korean Yonhap news agency reported. In a joint press release, Hyundai and North's Korea Asia-Pacific Peace Committee, which runs inter-Korean business affairs, announced to "restore" passage for South Korean personnel to the Kaesong industrial park.

July 24th, 2009 SKorea economy grows at fastest pace in 5 1/2 yrsSEOUL, South Korea — Government pump-priming and easy credit jolted South Korea's economy to its fastest growth in nearly six years in the second quarter, adding to evidence Asia is rebounding from the global slump. The region's fourth-largest economy expanded 2.3 percent in the three months ended June 30, the Bank of Korea said Friday, as record low interest rates and government stimulus spending insulated it from the global downturn.

July 24th, 2009 S. Korea economy grows at fastest pace in 5½ yearsSEOUL, South Korea — South Korea's economy recorded its strongest growth in 5½ years in the second quarter as increased government spending and record low interest rates insulated it from the global recession. Asia's fourth-largest economy expanded 2.3 percent in the three months ended June 30, the Bank of Korea said Friday.

July 24th, 2009 SKorea's economy grows 2.3 percent in 2nd quarterSEOUL, South Korea — South Korea's economy recorded its strongest growth in 5½ years in the second quarter as increased government spending and record low interest rates insulated it from the global recession. Asia's fourth-largest economy expanded 2.3 percent in the three months ended June 30, the Bank of Korea said Friday in a report.

June 19th, 2009 SKorean PM says climate change a threat to AsiaSEOUL, South Korea — South Korean Prime Minister Han Seung-soo said Friday that Asia is at grave risk from climate change and warned that responding to the environmental threat cannot be separated from fighting the global economic crisis. "Asian countries are particularly vulnerable to the adverse impacts of climate change," Han said in a speech at the annual World Economic Forum on East Asia.

May 8th, 2009 Korean Air says quarterly loss widens on weak wonSEOUL, South Korea — Korean Air Lines Co. said Thursday its first quarter loss widened as weakness in the South Korean won drove up costs denominated in dollars.

April 29th, 2009 Fed says it sees signs recession may be easingWASHINGTON — The Federal Reserve says it sees signs the recession may be easing but warns the economy is likely to remain weak. Against that backdrop the Fed held its key lending rate at a record low of between zero and 0.25 percent.

April 29th, 2009 Fed sees signs recession may easingWASHINGTON — The Federal Reserve says it sees signs the recession may be easing but warns the economy is likely to remain weak. Against that backdrop the Fed held its key lending rate at a record low of between zero and 0.25 percent.

April 21st, 2009 SEOUL - A South Korean delegation reached North Korea Tuesday morning to participate in talks amid mounting tensions in the Korean Peninsula. 'The delegation has crossed the border,' a spokesman of South Korea's Unification Ministry said.

April 21st, 2009 SEOUL - The first direct talks between the governments of North and South Korea in more than a year lasted for around 20 minutes Tuesday, South Korean officials said. There were no details as to what had been discussed at the meeting, which took place in the North Korean border city of Kaesong at an industrial park operated jointly by the two neighbours.

April 19th, 2009 SEOUL - The South Korean government Sunday said that it has decided to accept Pyongyang's offer for holding inter-Korean talks next week. It will be the first governmental talks between South Korea and North Korea since South Korean President Lee Myung-bak took office in February last year.

March 9th, 2009 SEOUL - North Korean troops have gone on combat alert in response to annual US-South Korean manoeuvres, the country's official news agency reported. The North Korean Army's Supreme Command vowed massive retaliation against the US and South Korean forces if Pyongyang's land, sea or air spaces are violated during the military exercises.

January 21st, 2009 SEOUL - South Korea's economy contracted at a more-than-expected rate of 5.6 percent in the final quarter of 2008 - its biggest drop since the Asian financial crisis a decade ago - and may be heading towards a deep recession. As exports shrank, domestic consumption waned and business investment declined, the central bank said Thursday.