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Finance

Policies

Tue, November 19, 2019 | 14:12

South Korea opposes EU safeguard duties on steel imports

South Korea opposes EU safeguard duties on steel imports

The South Korean government has voiced opposition against the European Union's safeguard duties on imported steel and asked for compensation, Seoul's trade ministry said Saturday. The Ministry of Trade, Industry and Energy said its officials held a bilateral meeting with counterparts from the EU in Brussels on Friday (local time) to object to the 25 percent tariffs on 23 cate...

2019-01-12 18:56

Shinhan opens new branch in Seoul City Hall

Shinhan opens new branch in Seoul City Hall

Shinhan Bank has opened a new branch in Seoul City Hall, the bank said Wednesday.

Jhoo Dong-chan | 2019-01-09 16:24

Korea's jobless rate rises in December

Korea's jobless rate rises in December

South Korea's jobless rate rose slightly in December from a year earlier, government data showed Wednesday, as the finance minister vowed to create 150,000 jobs this year. The unemployment rate stood at 3.4 percent last month, up 0.1 percentage point from a year earlier, according to the data compiled by Statistics Korea.

2019-01-09 13:11

Half of S. Koreans say tax policy favors rich people

Half of S. Koreans say tax policy favors rich people

Nearly half of South Koreans believe that the country's tax policy favors the rich, a poll showed Tuesday.The poll - commissioned by the Economic Reform Research Institute - found that 48.9 percent of respondents said they think the wealthy are at an advantage in regards to tax policy. The same findings showed just 31.8 percent believe that the country's tax policy favors ord...

2019-01-08 15:41

Let 'invisible hand' rule markets

Let 'invisible hand' rule markets

The English Premier League is now the most successful soccer league in the world. As the favorite among soccer fans, it attracts a lot of world-class players and massive investments from abroad. There are several reasons behind its overwhelming success, such as the market being open to the outside, unique marketing efforts and free competition. However, there is, although oft...

Kim Jae-kyoung | 2019-01-07 16:24

Card firms focus on risk management

Card firms focus on risk management

The nation's card companies are carrying out voluntary retirement programs and focusing on risk management, industry sources say Wednesday. This comes as the government has enforced them to lower their transactions fees for small businesses and the self-employed. The fee cut is scheduled to take effect this month. The plan is expected to cost them at least 800 billion won ($7...

Jhoo Dong-chan | 2019-01-02 16:37

Korea in dilemma over joining CPTPP

Korea in dilemma over joining CPTPP

Korea is in a dilemma over joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), as the Japan-led mega free trade deal is expected to pose long-term challenges to its outbound shipments.

Nam Hyun-woo | 2019-01-02 08:40

Korea's exports hit record high in 2018

Korea's exports hit record high in 2018

South Korea's exports hit an all-time high last year on brisk sales of memory chips and petrochemical goods, government data showed Tuesday. Outbound shipments came to $605.5 billion for 2018, up 5.5 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.

2019-01-01 10:52

Children inheriting more than 100 million won from parents soars in 2017

Children inheriting more than 100 million won from parents soars in 2017

The number of South Korean children inheriting more than 100 million won ($89,526) from their parents shot up in 2017 from a year earlier, data showed Sunday, as the government vowed to reduce tax deductions down the road. According to the data compiled by the National Tax Service, the agency imposed taxes on 146,337 cases of inheritance in 2017, up 17.2 percent from a year e...

2018-12-30 14:37

Conflict between gov't, biz owners escalates on new wage calculation system

Conflict between gov't, biz owners escalates on new wage calculation system

The conflict between the government and business owners has intensified in South Korea ahead of the scheduled implementation of a new wage system that obligates employers to give paid leave to workers, industry watchers said Sunday. Under South Korean law, an employer must provide employees with paid leave depending on their weekly work hours. For example, if an employee work...

2018-12-30 12:05

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