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Sun, May 31, 2020 | 04:27

Seoul to suffer sharpest decline in labor force by 2040: WTO

Seoul to suffer sharpest decline in labor force by 2040: WTO

Korea's workforce will face the world's sharpest decline by 2040 because of the country's declining birthrate and aging population, according to a report issued Monday. The World Trade Report 2019, released by the World Trade Organization (WTO), said the nation's population in 2040 will be the same as that of last year, but the workforce will have declined by 17 percent.

Lee Min-hyung | 2019-12-09 16:43

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

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

"In case of a rise in volatility, the government will cope with its contingency plan," Kim told the meeting." If there is a sharp fluctuation in the foreign exchange market, the government will take steps to stabilize the market in a timely manner," Kim said.

2019-12-09 10:26

Korean official to join OECD fiscal affairs committee board

Korean official to join OECD fiscal affairs committee board

The Ministry of Economy and Finance said Monday that the Organization for Economic Cooperation and Development (OECD) had appointed Ko Kwang-hyo, a senior official at the ministry, as an advisory board member of its Committee on Fiscal Affairs (CFA).

Lee Kyung-min | 2019-12-09 10:25

G20 meeting in Saudi

G20 meeting in Saudi

Kim Hoe-jeong, second row fourth from right, deputy minister for international affairs at the Ministry of Economy and Finance, poses with participants in the G20 Finance and Central Bank Deputies Meeting in Riyadh, Saudi Arabia, Saturday. They discussed key agendas for the G20 Finance Ministers' and Central Bank Governors' meeting which will take place in February in the same...

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

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

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