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Iraq Bulletin

Tag : South Korea

Business

South Korea starts 2026 with 11.3 trillion won surplus

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SEOUL: South Korea posted an 11.3 trillion won managed fiscal surplus in January as stronger tax collection offset higher government spending, with value-added tax and income tax leading the increase in receipts. Finance ministry data showed tax revenue reached 52.9 trillion won in the month, up 6.2 trillion won from a year......
Business

Bank of Korea holds 2.5% rate and rolls out dot plot

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SEOUL: South Korea’s central bank kept its benchmark interest rate unchanged at 2.50% on Thursday, maintaining the Base Rate as policymakers balanced a steady inflation backdrop with improving economic momentum and ongoing financial stability concerns. The Bank of Korea’s Monetary Policy Board said it would hold the current level while assessing developments in......
Technology

AI boom lifts South Korea ICT exports above 260 billion dollars in 2025

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MENA Newswire, SEOUL: South Korea’s exports of information and communication technology products rose more than 12 percent in 2025, underscoring the country’s central role in the global supply chain for artificial intelligence hardware and advanced digital components. Government data showed ICT shipments reached approximately $264 billion for the year, marking one of the strongest......
News

South Korea online sales hit record 16.75 billion in November

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MENA Newswire,  SEOUL: Online shopping sales in South Korea reached a record 24.15 trillion won (US$16.75 billion) in November, marking a 6.8 percent increase from the same period a year earlier, according to data released by the Ministry of Data and Statistics. The figure represents the highest level recorded since the ministry began compiling......
Business

UAE and Korea strengthen cooperation in energy and advanced industry

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SEOUL, December 19, 2025: The United Arab Emirates and the Republic of Korea have reaffirmed their commitment to strengthening cooperation in energy, industry, and advanced technology during an official visit by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO. The visit included......
Business

Digital transactions in Korea hit record levels in 2024

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Electronic payments in Korea reached a new record in 2024, signaling growing consumer adoption of contact-free financial transactions....
Featured News

Korea to invest $285M in advanced industrial technologies

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South Korea will invest $285M in AI, cybersecurity, and energy tech by 2031, aiming to drive innovation and industrial growth, according to the Ministry of Trade, Industry, and Energy....
Business

South Korea reinstates Japan on export white list to boost economic ties

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South Korea has reinstated Japan on its “white list” of trusted trading partners, a significant step towards mending their bilateral economic and diplomatic ties. Three years ago, Japan was removed from the list, which grants expedited trade processes for approved countries. The decision was announced by South Korea’s Ministry of......
News

South Korea opposes North Korean satellite acquisitions

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The South Korean government banned dozens of materials used by North Korea in satellite development from being exported via a third country. The move is meant to prevent the secretive nuclear-armed nation from circumventing Security Council sanctions. In spring, Pyongyang plans to launch a military reconnaissance satellite, South Korean News......