BORN2GLOBAL

  • banner
  • banner
  • banner

H > News

  • Major indicators say Korean economy is comparatively fine

  • The Bank of Korea on Dec. 6 said Korea recorded a trade surplus of USD 9.19 billion in October 2018 according to the balance of payment. (Korea.net DB)

    The Bank of Korea on Dec. 6 said Korea recorded a trade surplus of USD 9.19 billion in October 2018 according to the balance of payment. (Korea.net DB)



    By Min Yea-Ji and Yoon Sojung

    Major economic indicators have shown that the Korean economy is relatively healthy. 

    The Bank of Korea on Dec. 6 released data saying the country in October enjoyed its 80th straight month of trade surplus, the longest in Korea’s modern history. Gross national income (GNI) in the third quarter was also higher than in the second. 

    Korea in October recorded a trade surplus of USD 9.19 billion according to the balance of payments. 

    Thanks to robust exports, Korea’s annual cumulative trade surplus on Nov. 16 broke USD 1 trillion in the shortest period in history, with foreign direct investment hitting an all-time high on Nov. 27. Korea’s current account also finished in the black for the 80th month in a row dating back to March 2012. 

    Petroleum products, machinery and precision instruments helped the country post a record-high export volume in the third quarter of USD 57.24 billion, up 28.8 percent year-on-year. An improved travel account balance also reduced the service account deficit to a level lower than in the same period last year. 

    In the third quarter, GDP inched up 0.6 percent and GNP rose 0.7 percent from the previous quarter.

    By sector, manufacturing recorded the highest growth with 2.3 percent, mainly led by electrical and electronic instruments including semiconductors. Such growth was the highest for manufacturing during the past year. 

    As of November, Korea’s foreign reserves, a barometer of the country’s international credit standing, amounted to USD 402.99 billion, USD 240 million more than in the previous month. Korea’s FX holdings in late October ranked eighth in the world, with China, Japan and Switzerland comprising the top three in that order. 

    jesimin@korea.kr




    Comments

STARTUPS OF THE WEEK

    • 1 Dable
      Headquarters

      #301, 22, Nonhyeon-ro 79-gil, Gangnam-gu, Seoul, 06237

      Description

      Explain Your Business in One Line

    • 2 MOPIC
      Headquarters

      85307, corporate collaboration center, 2066 Seobu-ro, Jangan-gu, Suwon-si Gyeonggi-do, Korea 16419

      Description

      Your Breathtaking Mobile 3D Theater

    • 3 COOLJAMM Company
      Headquarters

      14F, 5, Teheran-ro 69-gil Gangnam-gu, Seoul, 06160

      Description

      Let Your Voice Compose — The Simplest Music Creation App for Dreamers

    • 4 ESM Lab
      Headquarters

      3003 NORTH 1ST ST. SUITE#221 SAN JOSE, CA, 95134

      Description

      Creating Experience ─ Highly Advanced 4D Video Solution

    • 5 Visual Camp
      Headquarters

      Startup Campus #325, 289beon-gil 20, Pangyo-ro Bundang-gu, Gyeonggi-do, 13488

      Description

      Eye Tracking Technologies for Mobile VR Devices

    • 6 REDTABLE
      Headquarters

      410, Startup Campus Building #3, 20, Pangyo-ro 289 beon-gil, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea

      Description

    • 7 MOIN
      Headquarters

      B2F, Google Campus, 417, Yeongdong-daero, Gangnam-gu, Seoul, 06182

      Description

    • 8 SendBird
      Headquarters

      541 Jefferson Ave. Suite 100 SendBird, Redwood City, CA 94063

      Description

      The Simplest Solution for Chat and Messaging

    • 9 SendBird
      Headquarters

      541 Jefferson Ave. Suite 100 SendBird, Redwood City, CA 94063

      Description

      The Simplest Solution for Chat and Messaging

    • 10 Gaudi Audio Lab
      Headquarters

      3F, AAn Tower, 20, Teheran-ro 20-gil Gangnam-gu, Seoul, 06235

      Description

      Creating Interactive 3D Audio for Life-like VR Experiences

    • 11 CRESPRIT
      Headquarters

      IntelligeⅡBuilding #315, 177, Jeongjail-ro, Bundang-gu, Seongnam-si, Gyeonggi-do, 13557

      Description

      Smart Connected Device Development Platform

    • 12 Mesh Korea
      Headquarters

      2~4F, Iksung Building, 6, Bongeunsa-ro 112-gil, Gangnam-gu, Seoul, 06170

      Description

      Innovative Last Mile Logistics Platform

    • 13 Mesh Korea
      Headquarters

      2~4F, Iksung Building, 6, Bongeunsa-ro 112-gil, Gangnam-gu, Seoul, 06170

      Description

      Innovative Last Mile Logistics Platform

    • 14 NEWRATEK
      Headquarters

      2~4F, Iksung Building, 6, Bongeunsa-ro 112-gil, Gangnam-gu, Seoul, 06170

      Description

      New Radio Communications for a New Era

    • 15 JD SOUND
      Headquarters

      Startup Campus 3rd, 357-1 Sampyeong-dong Bundang-gu, Seongnam-si, Gyeonggi-do

      Description

    • 16 ZOYI Corporation
      Headquarters

      15F, KR Tower, 141, Teheran-ro Gangnam-gu, Seoul, 06132

      Description

      Growth Hacking for O2O Commerce

    • 17 SMART STUDY
      Headquarters

      5F, 94, Myeongdal-ro Seocho-gu, Seoul, 06668

      Description

      Sing, Play and Learn with PINKFONG

    • 18 Luxrobo
      Headquarters

      63 Building, #10, 4F, Hanwha Financial Center, 60, Yeouido-dong Yeongdeungpo-gu, Seoul, 07345

      Description

      Create Anything You Want with Robotics of Things

    • 19 NEOFECT
      Headquarters

      West Building #401, Dankook Uni., 152, Jukjeon-ro, Suji-gu, Yongin-si, Gyeonggi-do, 16890

      Description

      Smart Glove Speeds Rehabilitation of Stroke Patients

    • 20 NEOFECT
      Headquarters

      West Building #401, Dankook Uni., 152, Jukjeon-ro, Suji-gu, Yongin-si, Gyeonggi-do, 16890

      Description

      Smart Glove Speeds Rehabilitation of Stroke Patients

    • 21 linkflow
      Headquarters

      Yugi tower 13F, Teheran-ro 69gil 5, Gangnam-gu, Seoul Korea

      Description

      Wearable 360 degree camera company

    • 22 SketchOn
      Headquarters

      Corporate Collaboration Center #85313, 2066, Seobu-ro, Jangan-gu, Suwon-si, Gyeonggi-do, 16419

      Description

      Harmless, Easy-to-Erase Printed Tattoos

    • 23 DNX
      Headquarters

      Startup Campus #314, 289beon-gil 20, Pangyo-ro Bundang-gu, Gyeonggi-do, 13488

      Description

      IoT. We Make the Things

    • 24 Innomdle Lab
      Headquarters

      2F, 3, Eonnam 1-gil, Seocho-gu, Seoul, 06778

      Description

      Touch Your Sound

startups_left startups_right