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Mon, December 10, 2018 | 14:29

Economy >

'Korean economy to bottom out after 2020'

South Korea is expected to face a further economic downturn due to multiple downside risks, such as the global slowdown and a possible hard landing of the Chinese economy, Hyundai Research Institute said, Sunday. The private think tank said that the Korean economy will bottom out after 2020.

Policies | 2018-12-09 17:21

New finance minister faces challenges amid slowdown

Hong Nam-ki, the new finance minister, is about to face an uphill battle in trying to restore confidence in the economy amid forecasts of a global slowdown in 2019, analysts say. He is expected to start his job officially on Dec. 11, leading President Moon Jae-in's second economic team, which includes Kim Soo-hyun, the new policy chief at Cheong Wa Dae. This comes as the Nati...

Finance | 2018-12-09 15:31

Employers call for eased minimum wage increase

The Korea Employers Federation (KEF) has called on lawmakers to seek ways to slow the minimum wage rise and ease other labor-related rules that they claim will further increase the burden on business.

Policies | 2018-12-09 17:04

Will Santa Rally come to Korea?

Market analysts are split over whether the local bourse will end the year 2018 on a high note with a strong “Santa Claus rally,” an increase in the stock market around Christmas in late December.

Finance | 2018-12-09 17:49

Debate over Samsung BioLogics delisting heats up

The Korea Exchange (KRX) will soon initiate a delisting review of Samsung BioLogics whose stocks remain suspended from transaction. The Financial Services Commission (FSC) ruled on Nov. 14 that the firm intentionally cooked its books in 2015.

Finance | 2018-12-09 17:49

Korea opens '$30,000 per capita income' era

President Moon Jae-in referred to South Korea reaching $30,000 per capita income as a historical achievement, at an event marking Trade Day. “As the seventh country in the world, South Korea has joined the 30-50 club, which refers to an economic power with $30,000 per capita income and a population of 50 million,” Moon said at the event held at COEX in southern Seoul.

Policies | 2018-12-07 16:42

South Korea's exports to reach record high of $600 billion by year-end

Feud between FSC, FSS deepening

A feud between the Financial Services Commission (FSC) and Financial Supervisory Service (FSS) has come to the surface, after union members of the latter issued a statement Dec. 3 requesting President Moon Jae-in dismantle the FSC.

Policies | 2018-12-06 16:52

Entrepreneurs disapprove of SMEs minister's performance

Minister of SMEs and Startups Hong Jong-haak, who completed his first year in office on Nov. 21, has failed to meet expectations from small businesses, mainly due to his “inability” to implement corporate-friendly policies under labor-leaning President Moon Jae-in, a survey conducted by ministry correspondents showed Thursday.

Policies | 2018-12-06 15:10

ABL moves to set up general agencies

The nation’s small- and medium-sized insurers are moving to establish their own general agencies, according to industry sources and company officials, Thursday.

Finance | 2018-12-06 16:49

NH launches automated lending program

NongHyup Bank has initiated around-the-clock operation of Robotics Process Automation (RPA), an automated program that manages household lending, corporate lending and credit card transactions, it said Thursday.

Finance | 2018-12-06 18:42

Sports pictures of the year