Seoul - South Korea's economic output will contract by 4 per cent in 2009, according to a prognosis Tuesday by the International Monetary Fund (IMF).
The organization significantly corrected downwards a forecast of 2-per-cent growth for Asia's fourth-largest economy.
The main reasons for the sharp decline were steep falls in exports and domestic demand following the world-wide downturn, the South Korean Finance Ministry said.
Seoul - Running low on that moisturizer again? Time to stock up on cosmetics? If you are a woman and live in Japan, this may well mean a short trip to South Korea.
For many Japanese it is not so much South Korea's rugged outdoors and beautiful landscapes, but happy bargain hunting that has them hopping a plane for the one-hour flight from Tokyo to Seoul.
A beauty fad and lots of bargains place South Korea as the best place for many Japanese women to shop for cosmetics and beauty products.
Seoul - South Korea staged a last-minute entry into the competition for hosting football's World Cup in 2018 or 2022, officials said Tuesday.
The world football association FIFA had been informed before the deadline for host applications expired Monday, South Korea's national football association said.
South Korea hosted the 2002 World Cup finals with Japan, the first time the even was held in Asia.
Japan is also among the dozen candidates bidding to host the tournaments in nine and 13 years.
Seoul - South Korea's exports took a record dive of 32.8 per cent in January as the global economic downturn saw demand in China, Europe, the United States and Japan plunge, the government said Monday.
The export-driven economy recorded the year-on-year fall in its goods sold abroad to 21.7 billion dollars, their third-straight month of decline, the Knowledge Economy Ministry reported.
Seoul - Industrial production in South Korea fell in December to its lowest level since the government started collecting such data in 1970 as the country's economy headed further toward recession, the National Statistical Office said Friday.
Owing to shrinking demand at home and abroad, production in the mining and manufacturing sectors fell 18.8 per cent in December after a 14-per-cent drop in November as a number of Korean companies have cut production in the wake of the global economic downturn.
Seoul - A South Korean man who was arrested for murdering a student admitted to killing six other women, police officials in the northern Kyonggi province said Friday.
The 38-year-old said he raped his victims and then strangled them with a nylon stocking. The women had been reported missing between December 2006 and November 2008.
Seoul - South Korea's economic output will contract by 4 per cent in 2009, according to a prognosis Tuesday by the International Monetary Fund (IMF).
Seoul - Running low on that moisturizer again? Time to stock up on cosmetics? If you are a woman and live in Japan, this may well mean a short trip to South Korea.
Seoul - South Korea staged a last-minute entry into the competition for hosting football's World Cup in 2018 or 2022, officials said Tuesday.
Seoul - South Korea's exports took a record dive of 32.8 per cent in January as the global economic downturn saw demand in China, Europe, the United States and Japan plunge, the government said Monday.
Seoul - Industrial production in South Korea fell in December to its lowest level since the government started collecting such data in 1970 as the country's economy headed further toward recession, the National Statistical Office said Friday.
Seoul - A South Korean man who was arrested for murdering a student admitted to killing six other women, police officials in the northern Kyonggi province said Friday.
