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Sun, July 21, 2019 | 05:33

Earnings of the poorest hit 15-year low

The monthly average income for the poorest bracket has hit a 15-year low, a report shows. According to Statistics Korea on Sunday, the monthly income of households in the bottom 10 percent reported an average monthly income of 840,000 won ($778) in the first quarter of this year. This is 117,368 won (12.2 percent) lower than last year.

2018-05-27 15:56

'Korea doesn't need to follow US in rate policy'

Given the country's ample current account surplus and foreign reserves, the Bank of Korea (BOK) does not need to move in tandem with the United States in rate policy.

Kim Yoo-chul | 2018-05-27 15:04

Korea Eximbank offers financing to Africa

The Export-Import Bank of Korea (Korea Eximbank) is introducing various financing programs for African countries not only to strengthen trade ties with the continent but also to help establish infrastructure there.

Jhoo Dong-chan | 2018-05-24 18:14

Korea rated poor in labor market, management practices

Korea's overall competitiveness has improved from last year, but it is still lagging behind in terms of labor market and management practices, a report by an international research institute showed Thursday.

Yoon Ja-young | 2018-05-24 17:34

WeMakePrice, Coupang penalized for abusing suppliers

The country's leading online shopping malls WeMakePrice, Coupang and Ticket Monster faced 130 million won in penalties for abusing suppliers.

Yoon Ja-young | 2018-05-24 16:48

Korea to levy anti-dumping duties Chinese steel wire

South Korea's trade commission said Thursday it has decided to impose anti-dumping duties on steel wire from China, saying the cheap imports hurt the domestic industry.

2018-05-24 15:15

Bank of Korea freezes policy rate at 1.5% for May

South Korea's central bank on Thursday held its key rate steady for May amid signs of an economic downturn and low inflation pressure. In a widely expected move, the monetary policy board of the Bank of Korea (BOK) voted to keep the policy rate unchanged at 1.5 percent, extending its wait-and-see stance to six months.

2018-05-24 11:25

[FULL TEXT] Bank of Korea's statement

The following is the full text of the Bank of Korea's statement on its monetary policy decision for May. The central bank's monetary policy board decided Thursday to hold its base rate steady at 1.5 percent for the month.

2018-05-24 10:53

Duty free licenses to be extended to 10 years

Conglomerates operating duty free shops may be able to have their operational duration guaranteed for 10 years after obtaining licenses. The government will also issue more licenses when the number of tourists and sales at duty free stores surge.

Yoon Ja-young | 2018-05-23 16:36

Voices growing against minimum wage hike

The Moon Jae-in administration's plan to steeply raise the minimum wage is facing hurdles as voices opposing the plan are gaining momentum.

Yoon Ja-young | 2018-05-22 17:03

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