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Wed, July 24, 2019 | 07:46

Taxpayer hurt by NTS' incorrect instructions

The National Tax Service (NTS) has been mired in controversy for its attitude toward a taxpayer, who was slapped with a penalty tax after following the tax agency's instructions, the Korea Taxpayers' Association said Sunday.

Park Jae-hyuk | 2019-07-21 16:45

Market expects additional rate cut in Q4

The decision by the Bank of Korea (BOK) on Thursday to cut its key interest rate and revise its 2019 growth outlook has been widely regarded as a signal that it will carry out an additional rate cut before the year's end, according to market analysts Sunday.

Park Jae-hyuk | 2019-07-21 15:44

Rate cut expected to boost stocks in short run

Experts and analysts welcomed the central bank's Thursday decision to cut the key rate by 25 basis points to 1.5 percent, but the effect of the rate cut is expected to be limited.

Jhoo Dong-chan | 2019-07-19 17:45

BOK cuts key interest rate to 1.5 percent

The Bank of Korea (BOK) cut its key interest rate by 25 basis points to 1.5 percent Thursday, in a pre-emptive measure to tackle slowing growth amid growing uncertainties caused by a trade feud with Japan. The central bank also revised its 2019 growth outlook to 2.2 percent from its previous forecast of 2.5 percent made in April, citing a delay in recovery of exports and inve...

Lee Kyung-min | 2019-07-18 17:09

FSC chairman offers to step down

Financial Services Commission (FSC) Chairman Choi Jong-ku said Thursday he had recently offered to resign, ahead of an expected cabinet reshuffle which is expected to take place in August.

Park Jae-hyuk | 2019-07-18 16:07

For Bangladesh's infrastructure

Export-Import Bank of Korea project finance division director Yang Hwan-joon, fifth from left, applauds with Bangladesh's government officials during the Bangladesh Infrastructure Investment Promotion conference at Lotte Hotel in Seoul, Wednesday. / Courtesy of Export-Import Bank of Korea

Jhoo Dong-chan | 2019-07-18 08:58

For efficient online bidding system

Officials from Korea Asset Management Corp. (KAMCO) and its Thai counterpart Sukhumvit Asset Management (SAM) pose at KAMCO's Seoul branch, July 15. At the center is SAM CEO Niyot Masavisut. KAMCO held a two-day program from Monday to exchange knowledge on how to better utilize public property sales transactions via Onbid, a KAMCO-developed online bidding system. Courtesy of ...

Lee Kyung-min | 2019-07-16 17:25

BOK under growing pressure to cut key rates

The Bank of Korea (BOK) is under growing pressure to lower its key interest rate after U.S. Federal Reserve Chairman Jerome Powell strongly hinted at a rate cut later this month, Thursday. Experts said the BOK is likely to lower the benchmark rate in August at the latest if the Fed cuts its policy rate this month. The Korean central bank is scheduled to have rate-setting mone...

Jhoo Dong-chan | 2019-07-15 17:42

BOK faces further delay in building new head office

The construction of the Bank of Korea's (BOK) new head office won't start in the near future due to a legal issue between the procurement office and bidding builders, the central bank said.

Jhoo Dong-chan | 2019-07-14 17:08

Biz communities unhappy with minimum wage hike

Business communities have expressed dissatisfaction with the country's decision to raise the 2020 minimum wage. The Minimum Wage Council - comprising of representatives from labor, management and the public - announced Friday that next year's minimum wage has been set at 8,590 won ($7.30) an hour, up 2.87 percent from this year. The council's decision came after a 13-hour dis...

Kwak Yeon-soo | 2019-07-12 17:18

Korea to raise minimum wage for 2020 by 2.9%

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