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Thu, December 12, 2019 | 17:17

Korea losing high-ranking posts in AIIB

Korea losing high-ranking posts in AIIB

Korea lost another high-ranking position in the Asian Infrastructure Investment Bank (AIIB), despite its contribution of 4.2 trillion won ($3.5 billion) to the China-led multinational development bank that aims to support the building of infrastructure in the Asia-Pacific region.

Park Jae-hyuk | 2019-12-08 16:50

Gov't seeking to levy taxes on virtual currency

Gov't seeking to levy taxes on virtual currency

The government is seeking to impose taxes on capital gains from transaction of virtual currencies, including bitcoin, according to government sources, Sunday. The Ministry of Economy and Finance confirmed it is pushing for the measure to be reflected in tax regulations next year.

Kim Bo-eun | 2019-12-08 16:32

Customs service cooperation

Customs service cooperation

Korea Customs Service (KCS) Information Planning Division Director Lee Jin-hee, left, and African Development Bank (AfDB) Industrial and Trade Development Director Abdu Mukhtar pose after signing “Aide Memoire” for bilateral cooperation at the Plaza Seoul, Dec. 6. Under the agreement, the two sides will foster cooperation to help AfDB member states to implement Ko...

Lee Kyung-min | 2019-12-06 17:43

Korea aims to become leader in global customs services

Over half of women with preschoolers unemployed

Over half of women with preschoolers unemployed

Over half of mothers with children aged under seven are unemployed, indicating one out of two women stayed at home to raise children, government data showed Friday.

Lee Kyung-min | 2019-12-06 17:41

For economic reform in 2020

For economic reform in 2020

First Vice Minister of Economy and Finance Kim Yong-beom, left, speaks while presiding over a meeting to discuss innovation for the nation's biotechnology industry, at the Government Complex Seoul, Friday. He also pledged to make drastic reform in five areas next year, including future-oriented manufacturing industry, labor market, public sector, structural change from declin...

Lee Min-hyung | 2019-12-06 17:12

'Security key to ensuring success of open banking'

'Security key to ensuring success of open banking'

The success of “open banking” hinges on whether its online platform will protect users from personal information theft, experts said Tuesday.

Lee Kyung-min | 2019-12-04 20:32

Korea to open fintech support center in Singapore

Korea to open fintech support center in Singapore

The government will establish a help desk in Singapore early next year to support local fintech startups' expansion into Southeast Asia, the Financial Services Commission (FSC) said Wednesday. The tentatively named Korea Startup Desk will open at the Korea Development Bank's branch in the city-state, which many Korean firms use as a bridgehead for inroads into Southeast Asia.

Park Jae-hyuk | 2019-12-04 16:27

Korea unlikely to achieve 2% economic growth this year

Korea unlikely to achieve 2% economic growth this year

The economy is unlikely to reach annual growth of 2 percent this year amid the prolonged slowdown in exports and domestic consumption, experts said Tuesday. The Bank of Korea said it estimated the economy to have grown by only 0.4 percent in the third quarter from the previous quarter.

Lee Min-hyung | 2019-12-03 16:55

S. Korea bolsters readiness to quell financial volatility amid US-China trade war

S&P expects BOK to cut key rate below 1% in 2020

S&P expects BOK to cut key rate below 1% in 2020

Standard & Poor's (S&P) Global Ratings forecasts the nation's key interest rate will fall below 1 percent next year - for the first time in history - due to the sluggish economic recovery and low inflation.

Park Jae-hyuk | 2019-12-03 16:37

FSS to lower barriers for foreign firms

FSS to lower barriers for foreign firms

The chief of the Financial Supervisory Service (FSS) pledged Monday to create a more favorable environment for foreign financial firms doing business here. FSS Governor Yoon Suk-heun's made the remark during a meeting with the CEOs of 18 foreign banks, brokerages, asset management firms and insurers based in Seoul. "We will improve Korea's shortcomings in cooperation with rel...

Kim Bo-eun | 2019-12-02 16:39

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