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Finance

Policies

Sat, August 8, 2020 | 18:46

HSBC, WeWork seek to expand fintech investment in Korea

HSBC, WeWork seek to expand fintech investment in Korea

Several foreign firms are seeking to expand investment in Korea's financial technology industry in a bid to capitalize on opportunities stemming from the Korean government's deregulation efforts in the rapidly-growing market.

Anna J. Park | 2020-02-05 17:03

Card firms help prevent coronavirus spread

Card firms help prevent coronavirus spread

Amid growing concerns of the worldwide spread of a coronavirus, the country's credit card companies are closely cooperating with the Korea Centers for Disease Control & Prevention (KCDC), to provide information that could help prevent its further transmission.

Anna J. Park | 2020-02-04 18:08

Foreigners may face stricter real estate tax regulations

Foreigners may face stricter real estate tax regulations

An opposition party lawmaker is seeking to draw up a bill to impose heavier taxes on capital gains from real estate transactions here made by non-resident foreigners in Korea. The move aims to prevent reverse discrimination against Koreans and curb foreigners' real estate speculation.

Lee Kyung-min | 2020-02-04 17:57

Special meeting on coronavirus

Special meeting on coronavirus

Vice Finance Minister Kim Yong-beom, second from left, speaks at an expanded meeting to discuss measures to prevent the spread of the coronavirus in Seoul, Tuesday. He discussed upcoming steps the finance ministry would take to minimize the economic impact of the virus, as concerns are rising that the virus could weaken consumer confidence here.

Lee Min-hyung | 2020-02-04 16:58

Finance minister Hong reshuffles senior staff

Finance minister Hong reshuffles senior staff

Former spokesman for the Ministry of Economy and Finance, Kim Seong-wook, will take charge of the ministry's international finance bureau, the ministry said Monday.The appointment is part of Finance Minister Hong Nam-ki's large-scale reshuffle of his senior staff.

Lee Kyung-min | 2020-02-03 17:13

Samsung, LG, Hyundai to pay 'digital tax'

Samsung, LG, Hyundai to pay 'digital tax'

Leading businesses here, including Samsung and LG will be subject to “digital tax,” although the impact on Samsung will be limited, as semiconductors accounting for over half the firm's revenue are classified as intermediate goods and therefore exempt, the finance ministry said Friday.

Lee Kyung-min | 2020-01-31 17:13

Korea urged to join CPTPP to cut reliance on China

Korea urged to join CPTPP to cut reliance on China

Korea should join a trade agreement among 11 countries in the trans-Pacific area to reduce its heavy reliance on China and foster the export of goods manufactured by small- and medium-sized enterprises (SMEs), a state-run think tank report said Thursday.

Lee Kyung-min | 2020-01-30 16:23

Against tax evasion

Against tax evasion

Finance Minister Hong Nam-ki, third from left in the front row, poses with Kim Hyun-jun, fourth from left in the same row, head of the National Tax Service, and participants of a tax conference in the government complex in Sejong, Wednesday. They said the government would step up monitoring of tax evasion from real estate transactions and sternly deal with those involved in h...

Lee Min-hyung | 2020-01-29 17:22

'Gov't policy favors fintechs over card firms'

'Gov't policy favors fintechs over card firms'

The government initiative to nurture fintechs in the financial market neglects existing industry players, leaving them demoralized despite years of contribution to the advancement of payment and settlement services, a private institute report and industry officials said Sunday.

Lee Kyung-min | 2020-01-27 16:52

Korea's financial hub vision becomes more 'elusive'

Korea's financial hub vision becomes more 'elusive'

Korea's long-term vision of becoming a financial hub in Asia has become more and more “elusive” as China has decided to open its financial market worth $45 trillion (52.5 quadrillion won) by removing regulations on the ownership of foreign financial players operating there. Given that Korea is already struggling to attract foreign investment due to its militant unions and ant...

Lee Kyung-min | 2020-01-23 17:21

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