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The Korea Times

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Asia

The Korea Times

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Economy

Wed, July 24, 2024 | 03:23

New tax chief

National Tax Service (NTS) Commissioner Kang Min-soo takes an oath during his inauguration ceremony at the Government Complex Sejong in Sejong City, Tuesday. Kang said the tax agency will expand the use of AI while adhering to just and fair practices in taxation. Courtesy of NTS

2024-07-23 14:40

Prices could bounce back in July over unusual weather: finance chief

Prices could bounce back in July over unusual weather: finance chief

Prices could rise again due to bad weather conditions in summer, the finance chief said Tuesday, vowing all-out efforts to moderate inflationary pressure.

2024-07-23 10:06

Producer prices snap 6-month rise in June on decline in prices of farm goods

Producer prices snap 6-month rise in June on decline in prices of farm goods

Korea's producer prices ended their six-month rise in June, driven by a decline in the prices of agricultural goods, central bank data showed Tuesday.

2024-07-23 09:58

Fewer foreign residents in Korea wire money back to family

Fewer foreign residents in Korea wire money back to family

An increasing number of foreign residents in Korea are opting to deposit their income into their own accounts rather than remitting it back to their families abroad, a survey showed, Monday.

2024-07-23 03:00

Trumpflation concerns grip Korea

Trumpflation concerns grip Korea

Korea's highly open financial market and economy could experience heightened volatility, amplified by the potential reclaimed victory of former U.S. President Donald Trump in the November election, market watchers said Monday.

2024-07-22 16:13

Trump victory could spell trouble for export-oriented Korea

Trump victory could spell trouble for export-oriented Korea

The Korean economy could lose momentum for growth, stifled by the potential reclaimed victory of former U.S. President Donald Trump in the November election, observers said Sunday.

2024-07-21 16:11

NEET population hits record high amid expectations mismatch

NEET population hits record high amid expectations mismatch

Over 4 million college graduates were out of the labor force and not seeking employment in the first half of this year, according to government data released on Sunday.

2024-07-21 16:11

Household loans rise again despite financial authorities' pressure

Household loans rise again despite financial authorities' pressure

Combined household loans from the five major banks surged by more than 3.6 trillion won ($2.6 billion) this month despite financial authorities’ ongoing efforts to curb the growth of household debt, according to industry officials, Sunday.

2024-07-21 15:52

Will Korea revise inheritance taxes?

Will Korea revise inheritance taxes?

The ruling People Power Party (PPP) is pushing for an inheritance tax revision whereby the rate and taxable amount are set on gains from trading inherited assets, instead of their value at the time of the owner's death.

2024-07-19 08:21

Tax revisions on property, stock income, crypto take center stage at Assembly

Tax revisions on property, stock income, crypto take center stage at Assembly

The revision of much-disputed taxes on stock trading income and property are expected to take an extended political turn, as indicated by grandstanding efforts of ruling and opposition party leaders to gain the upper hand on the divisive issue, market watchers said Wednesday.

2024-07-17 16:10

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Top 10 Stories

1	N. Korea says it does not care about Trump's boasting of friendship with Kim

2	Fewer foreign residents in Korea wire money back to family

3	Kakao faces gloomy outlook following founder's arrest

4	INTERVIEWSenior models in Korea redefine age and beauty

5	Kim Jong-un anticipates Donald Trump's reelection: experts

6	Gov't ups limit on meal prices under anti-graft law to 50,000 won

7	Jamsu Bridge closed due to rising river levels

8	'Chaebols, NPS drive Korea discount': London-based proxy adviser

9	Korean wine importers struggle with falling sales

10	Former interim leader elected as new ruling party chief

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