South Korea's 30 biggest business groups plan to raise investment and create tens of thousands of jobs this year to cater for rising demand at home and abroad, the biggest business lobby said Friday. The Federation of Korean Industries said the plans were disclosed at a meeting with President Lee Myung-Bak. The groups plan to spend a total of ...

South Korea's central bank on Friday froze its key interest rate at a record low 2.0 percent for the 11th consecutive month, saying uncertainties remain about the country's economic recovery. In a monthly policy meeting, the Bank of Korea (BOK) left the benchmark seven-day repo rate unchanged. It had cut the rate by a total of 3 ...

South Korea will spend about 70 percent of its budget in the first half of this year as part of efforts to accelerate the country's economic recovery, officials said Monday. President Lee Myung-Bak directed his cabinet to "effectively and swiftly" carry out budget spending, describing job creation as one of the country's most important tasks, his office said ...

South Korean prosecutors Tuesday charged former Prime Minister Han Myeong-Sook with taking a 50,000 dollar bribe from a business executive while she was in office, officials said. The former liberal prime minister denies the allegations and says the probe is politically motivated under the current conservative government. She was arrested last Friday after refusing to appear voluntarily for questioning ...