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Finance

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Mon, November 18, 2019 | 21:13

Have Seoul home prices hit rock bottom?

Have Seoul home prices hit rock bottom?

The Seoul real estate market, particularly the apartment market, has continued on a downward spiral over the past several months but some market observers say that it is bottoming out as the real estate confidence index slightly recovered for the first time in five months.

Jhoo Dong-chan | 2019-04-25 17:36

Korea's economy unexpectedly contracts in Q1, worst in decade

Korea's economy unexpectedly contracts in Q1, worst in decade

The South Korean economy is estimated to have unexpectedly shrunk in the first quarter on a drop in capital investment and falling exports, the Bank of Korea (BOK) said Thursday. The country's gross domestic product (GDP) is projected to have backtracked 0.3 percent in the first quarter of the year from the previous quarter, according to estimates from the central bank. The r...

2019-04-25 14:07

Nobel prize-winning economist optimistic about Korea's economy

Seung calls for 'bold, forward-looking' deals to embrace the Fourth Industrial Revolution

Seung calls for 'bold, forward-looking' deals to embrace the Fourth Industrial Revolution

Chairman Seung Myung-ho of The Korea Times and Hankook Ilbo called Thursday for bipartisan efforts to tackle regulatory and sociopolitical hurdles facing Korea to enable the country to “lead” in the Fourth Industrial Revolution.

Park Si-soo | 2019-04-25 11:15

Cabinet approves $5.8-billion extra budget plan

Cabinet approves $5.8-billion extra budget plan

The government plans to submit a 6.7 trillion won ($5.8 billion) extra budget proposal to the National Assembly, Thursday, to fight an economic slowdown while also strengthening disaster response and fine dust policies.

Jung Da-min | 2019-04-24 16:23

Korea draws up 6.7 trillion-won extra budget to tackle economic slowdown, fine dust

Korea draws up 6.7 trillion-won extra budget to tackle economic slowdown, fine dust

South Korea proposed a 6.7 trillion-won (US$5.8 billion) extra budget Wednesday to cope with a slowdown in Asia's fourth-largest economy and rising concerns over fine dust that often blankets the country. Under the supplementary budget bill endorsed by the Cabinet, the government will spend 4.5 trillion won on a series of measures to boost exports, strengthen the social safet...

2019-04-24 09:45

Strengthening shareholders' right

Strengthening shareholders' right

Justice Party floor leader Rep. Yun So-ha, left, speaks during a conference on the “stewardship code” operated by the National Pension Service (NPS) at the National Assembly on Yeouido in Seoul, Monday. Lawmakers discussed how the NPS should exercise its shareholders' rights in firms' governance and decision-making processes. / Yonhap

Jhoo Dong-chan | 2019-04-22 17:04

South Korea scrutinizes unlicensed foreign IBs

South Korea scrutinizes unlicensed foreign IBs

Financial authorities are keeping a close watch on unlicensed foreign investment banks (IBs) as there are growing voices here that they are exploiting local loopholes to make money without paying taxes. Over the past few years, an increasing number of domestic firms are choosing foreign IBs as organizers when issuing corporate bonds abroad, and nearly a dozen IBs are found to...

Jhoo Dong-chan | 2019-04-22 16:14

Korea collected nearly 378 trillion won in taxes in 2018

Korea collected nearly 378 trillion won in taxes in 2018

South Korea collected 377.9 trillion won (US$332.6 billion) in local and central government taxes last year, official data showed Sunday, with the tax-to-gross domestic product (GDP) ratio rising sharply as more corporate taxes were collected on companies' stronger earnings. According to the data from the Ministry of Economy and Finance, the Ministry of the Interior and Safet...

2019-04-21 11:36

Seoul to raise portion of renewable energy up to 35% by 2040

Seoul to raise portion of renewable energy up to 35% by 2040

The government announced Friday that it will seek to boost the portion of renewable energy in the country's power use to 35 percent by 2040. The move is part of an energy use revision plan unveiled by the Ministry of Trade, Industry and Energy to cut fine dust pollution and create a more sustainable economy.

Kwak Yeon-soo | 2019-04-19 17:59

Bank of Korea freezes key rate at 1.75 percent for April

Bank of Korea freezes key rate at 1.75 percent for April

South Korea's central bank held its policy rate unchanged at 1.75 percent for April on Thursday amid persistent concerns over an economic slowdown, despite a decline in inflationary pressure. The monetary policy board of the Bank of Korea (BOK) voted to leave the bellwether call rate steady for the fifth straight month after raising it by a quarter percentage point in Novembe...

2019-04-18 10:04

Bank of Korea cuts growth forecast to 2.5 percent

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