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WEEKLY ECONOMIC BULLETIN

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SUBJECT Weekly EB (No. 222, February 15, 2013)
DATE 2013-02-15 TEL +82-2-6908-8701
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WEEKLY ECONOMIC BULLETIN

February 15, 2013

MAJOR NEWS AND EVENTS
[MOSF] Employment Situation Analysis, January 2013 (February 13)
The economy added 322,000 jobs month-on-month in January, an improvement due to the easing of temporary factors, such as heavy snowfalls and cold weather. Seasonally adjusted month-on-month data* also showed a jobs increase for the first time in four months. More


[MOSF] Employment Situation, January 2013 (February 13)
Statistics Korea released their 'Economically Active Population Survey in January 2013' report on February 13. More


[MOSF] Macroeconomy and Finance Meeting Held Following 3rd North Korea Nuclear Missile Test (February 13)
On February 13 at 7:30a.m., Vice Minister of Strategy and Finance Shin Jaeyoon held an emergency session of the Macroeconomy and Finance Meeting to evaluate the current state of domestic and international financial markets and discuss response measures following North Korea’s 3rd nuclear missile test. Along with officials from the Ministry of Strategy and Finance, officials from the Financial Services Commission, the Bank of Korea, the Financial Supervisory Service, and the Korea Center for International Finance attended the meeting. More


[MOSF] Minister's Message Regarding North Korean Nuclear Test (February 12)
The nuclear test by North Korea is expected to have a limited effect on South Korea’s economy, considering that previous incidents involving North Korea, including two nuclear tests, had a limited effect on the financial market. It is highly unlikely that the test will have an influence on the real economy and the country’s sovereign credit rating. More


[BOK] Monetary Policy Decision, February 14, 2013 (February 14)
The Monetary Policy Committee of the Bank of Korea decided today to leave the Base Rate unchanged at 2.75% for the intermeeting period. More


[BOK] Current Economic Developments in Korea, February 2013 (February 14)
Domestic economic activity has shown signs of gradual improvement, helped by a recovery of demand centering around emerging market countries and by improvements in consumer and business confidence. More


[BOK] Financial Markets during January 2013 (February 13)
After falling to a record low (2.70%) on January 10, Treasury bond (3-yr) yields then rebounded slightly by the month-end, affected largely by the weakening of expectations of a Base Rate cut in line mainly with the rise in the won-dollar exchange rate and by an increase in the (10-year) US Treasury bond rate. More


[BOK] Monetary and Liquidity Aggregates during December 2012 (February 13)
The month-on-month growth rate of Broad Money (M2, seasonally adjusted, period-average) registered 0.1%. More


[BOK] Export/Import Price Indices during January 2013 (February 13)
The Export Price Index(won basis) decreased by 0.1% month-on-month in January 2013 More


ANNOUNCEMENT ON UPCOMING RELEASES
[MOSF]
  • - Results of G20 Finance Ministers’ Meeting (February 16)
  • - MOU signed between Korea and India (February 18)
  • - 3rd Fiscal Management Examination Meeting (February 19)
  • - Current Foreign Debt Situation (February 19)
  • - Well Performing PDs in H2, 2012 (February 22)
[BOK]
  • - Producer Price Index during January 2013 (February 18)
  • - Dishonored Bill Ratio during January 2013 (February 19)
  • - International Investment Position (IIP) at the end of 2012, preliminary (February 20)
  • - Household Credits during Q4 2012, preliminary (February 21)
  • - Proceedings of Economic Review Meeting (February 22)
  • - Proceedings of Economic Review Meeting (February 22)

Each institution is reponsible for the information it provides in the bulletin.

For further inquiries
Ministry of Strategy and Finance
Kang, Lauren +822 6908 8701 +822 6908 8701 http://english.mosf.go.kr
Financial Services Commission
Kim, Mi Kyung +822 2156 9582 emkaykim@korea.kr http://english.mosf.go.kr
Bank of Korea
Son, Min Kun +822 759 4132 minkun@bok.or.kr http://english.mosf.go.kr
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