MAEC Project TR01 Group 3 by https://padlet.com/tankyehim/mdxjj478773n Group member: Brian, Camden, Rudy, Jia Yi, Calynn, Kye Him, Cheyenne en-us 2018-05-16 04:18:34 UTC 2025-12-06 14:23:28 UTC hello@padlet.com calynnheng3 https://padlet.com/tankyehim/mdxjj478773n/wish/261084693 2018-05-16 04:21:56 UTC https://padlet.com/tankyehim/mdxjj478773n/wish/261084693 Korea's GDP calynnheng3 https://padlet.com/tankyehim/mdxjj478773n/wish/261090737 "GDP Growth Rate in South Korea averaged 1.80 percent from 1960 till 2018. It increased 1.1 percent in the starting three months of this year from the previous quarter. In a Bloomberg survey, the growth figure was equivalent to the median forecast of economists. From the previous year, the economy increased 2.8 percent, as compared to  the 2.9 percent median estimate of economists." Lee Sang-Jae, chief economist for Eugene Investments and Securities predicted a 3.1% GDP growth projection. The GDP raised by 4.4% when exports were measured in volume in the first quarter, as compared to the previous period, whereby it dropped by 5.3%.

Lee, J. (2018, April 26).
Exports Drive South Korea's Return to GDP Growth in 1Q.
Retrieved from
https://www.bloomberg.com/news/articles/2018-04-25/south-korea-economy-rebounds-in-1st-quarter-after-contraction


]]> 2018-05-16 05:09:39 UTC https://padlet.com/tankyehim/mdxjj478773n/wish/261090737 Korea's unemployment jiayilahx https://padlet.com/tankyehim/mdxjj478773n/wish/261091688 South Korea's unemployment rate rose to a 17-year-high in March, two months after the country applied its highest minimum wage increased in 17 years.  

Statistics Korea announced the number of unemployed Koreans hit 1.25 million last month, recording a 4.5 percent unemployment rate. 

This situation was worse for people aged 15-29, as youth unemployment hit 11.6 percent.

Self-employed businesses such as wholesale and retail have seen a decrease in jobs as these businesses felt it was redundant to hire workers for simple tasks and also as they cannot handle the extra labor costs due to the introduction of the steep minimum wage hike in January 2018, thus making the unemployment crisis harder to resolve.

South Korea unemployment surges after minimum wage hike. (2018, April 11). Retrieved from https://www.upi.com/South-Korea-unemployment-surges-after-minimum-wage-hike/5511523435109/
]]> 2018-05-16 05:20:51 UTC https://padlet.com/tankyehim/mdxjj478773n/wish/261091688 Korea's Inflation rudymanrosli97 https://padlet.com/tankyehim/mdxjj478773n/wish/261097571 Korea's inflation has increased slightly in February due to the minute increase in fresh food costs and oil prices.
 
Statistics Korea reported a 1.4 percent spike in February from a year ago, quicker than the 1.0 percent gain recorded in January and slightly above the 1.2 percent rise expected in a Reuters survey.

However, the implementation of any monetary policies are still in far sight as the benchmark inflation has held below the Bank of Korea's 2 percent target since October.

 "A sub-index for fresh food costs jumped 4.3 percent on-year as fruits and vegetable prices rose steeply due to cold winter weather. Prices of strawberries jumped 23.2 percent, while prices for pumpkin and rice surged 25.5 percent and 21.1 percent respectively."

 
Local petroleum prices rose 3.0 percent from a year earlier, Statistics Korea said, raising costs for petrochemical and other industrial goods for citizens

Global oil prices are rising due to robust oil demand growth and it is a concern that output from OPEC producers would grow at a much slower pace in the coming years.

Monthly inflation was 0.3 percent higher from the forecast of 0.5 percent at 0.8 percent.

R. (2018, March 06). South Korea inflation speeds up slightly in February on fresh food costs, oil. Retrieved from http://www.euronews.com/2018/03/06/south-korea-inflation-speeds-up-slightly-in-february-on-fresh-food-costs-oil


]]> 2018-05-16 05:57:29 UTC https://padlet.com/tankyehim/mdxjj478773n/wish/261097571 Thank you for your Padlet Wall. The articles are interesting and analysis indepth. You may want to include the impact of the denuclearisation pact between North and South, and how that will affect the South Korea's economy. (I know its developing and the meet may be held in Singapore, just briefly discuss to show the currency of your report.) lek2 https://padlet.com/tankyehim/mdxjj478773n/wish/261447751 2018-05-17 03:39:16 UTC https://padlet.com/tankyehim/mdxjj478773n/wish/261447751