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Finance

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Wed, January 22, 2020 | 17:45

South Korea holds annual meeting with IMF on economy

South Korea holds annual meeting with IMF on economy

South Korea said Tuesday it will begin its annual meeting with an International Monetary Fund team this week on the state of the economy and its overall economic policies. The IMF team led by Tarhan Feyzioglu is set to meet with officials of the Ministry of Economy and Finance, the Fair Trade Commission, the Ministry of Employment and Labor, the Bank of Korea and the Financia...

2019-02-26 15:17

Chaebol anxious about upcoming shareholders' meetings

Chaebol anxious about upcoming shareholders' meetings

Samsung, Hyundai Motor and other top conglomerates are scrambling to prepare for their upcoming shareholders' meetings next month as they have to deal with a range of thorny issues, including reappointing their owners as board members, according to company officials Monday.

Nam Hyun-woo | 2019-02-25 18:16

Debt per household hits record-high of W77 mil.

Debt per household hits record-high of W77 mil.

The average amount of debt each household borrowed rose to an all-time high of 77 million won ($68,444) last December as more families took out loans to purchase houses or pay for living expenses amid the worsening job market conditions, according to the Bank of Korea (BOK) Sunday.

Jhoo Dong-chan | 2019-02-24 17:04

Debt per household in Korea rises 4.6% last year

Debt per household in Korea rises 4.6% last year

The average debt per household in South Korea rose 4.6 percent in 2018 from a year earlier, the central bank said Sunday. The debt jumped to 77.7 million won (US$69,000) last year from 74.3 million won a year earlier and from 42.9 million won in 2008, according to the Bank of Korea.

2019-02-24 14:18

South Korea's average foodstuff price rises sharply in Q4 on summer heat

South Korea's average foodstuff price rises sharply in Q4 on summer heat

The average price of food in South Korea increased sharply in the fourth quarter of 2018 compared with other major advanced countries, data showed Saturday, apparently due to last year's scorching summer. According to data compiled by the Organization for Economic Cooperation and Development and Statistics Korea, the average price of food in South Korea rose 5.1 percent year-...

2019-02-23 15:37

Eximbank join hands with agencies

Eximbank join hands with agencies

Senior officials from the Export-Import Bank of Korea's overseas business division pose with officials from the Korea Overseas Infrastruture & Urban Development Corp., International Finance Corp. and Multilateral Investment Guarantee Agency during a workshop for new market and high-value business development at the bank's headquarters in Seoul, Wednesday. / Courtesy of Ex...

Jhoo Dong-chan | 2019-02-21 17:57

South Koreans' overseas card spending soars in 2018

South Koreans' overseas card spending soars in 2018

Overseas card spending by South Koreans posted double-digit growth for the second straight year in 2018 due to a larger number of outbound travelers and weaker U.S. dollar, central bank data showed Thursday.South Korean people spent $19.22 billion with plastic abroad last year, up 12.1 percent from a year earlier, according to the data by the Bank of Korea (BOK).Overseas card...

2019-02-21 14:12

South Korea's household income gap hits record high in Q4

South Korea's household income gap hits record high in Q4

South Korea's household income inequality hit a record high in the fourth quarter of 2018, government data showed Thursday.An average household earned 4.6 million won ($4,000) per month in the October-December period, up 3.6 percent from the previous year, according to the data compiled by Statistics Korea.The monthly average income of the bottom 20 percent income bracket dro...

2019-02-21 13:49

NTS targets multinational firms

NTS targets multinational firms

The National Tax Service (NTS) will closely monitor multinational firms operating in Korea in a bid to make sure their earnings here are taxed in a fair and transparent manner, the tax agency said Tuesday.

Lee Kyung-min | 2019-02-20 17:52

Seoul to offer vacation subsidy to low income earners

Seoul to offer vacation subsidy to low income earners

The Seoul government said Tuesday it will offer a vacation subsidy of 250,000 won (US$222) to 2,000 low-income workers this year, as part of an effort to reinvigorate the stagnant local tourism sector. The Seoul metropolitan government will begin accepting applications for the vacation subsidy in March from among Seoul residents earning less than 2 million won a month, offici...

2019-02-19 15:02

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