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Tue, August 14, 2018 | 16:04

Economy > Policies >

Loans from non-banking market soar to W832 tril.

Household and corporate loans offered by non-banking financial firms soared by 43.1 trillion won (38.15 billion) in the first half of this year to reach 831.25 trillion won, the Bank of Korea (BOK) said Sunday.

Policies | 2018-08-12 21:00

Finance minister needs more authority

Economy and Finance Minister Kim Dong-yeon is known as a man who acts according to his convictions. He doesn't try to curry favor by deserting policies he thinks are right.

Policies | 2018-08-12 17:34

Gov't fails to curb Seoul apartment prices

Despite a series of anti-speculation measures, the government seems to have failed to curb apartment prices in key areas of Seoul. Analysts expect further increases in the latter half of the year as new apartments in Seoul have become “rare items.”

Policies | 2018-08-10 16:34

Unauthorized inter-Korean coal trade confirmed

South Korea received 6.6 billion won ($5.86 million) worth of North Korean coal and pig iron, of which the country of origin was fabricated, the nation's customs agency said, Friday. Cheong Wa Dae said there is no conflict between South Korea and the U.S. regarding the issue as the two countries are coordinating closely with mutual trust.

Policies | 2018-08-10 16:31

US backs South Korea amid illegal imports of North Korean coal

BOK faces growing dilemma

The Bank of Korea (BOK) has faced a growing dilemma over the course of its monetary policy amid worsening economic situations. On one side, there is growing pressure for the BOK to raise the key rate as U.S. Federal Reserve signaled that it will continue its credit-tightening stance through additional rate hikes.

Policies | 2018-08-09 18:50

Korea to nurture 'platform economy'

The government will expand investment into the “platform economy,” as a part of efforts to attain innovative growth through bold regulatory reforms, the country's finance minister said Thursday.

Policies | 2018-08-09 17:06

Block chain special zone considered in Jeju

The government will consider designating Jeju Island as a special zone to develop the blockchain and electric vehicle industries. If designated as such, it is expected to draw 63.2 billion won in investment over the next five years and create 1,800 jobs. Daegu will see deregulation to nurture its brain science research as well as getting government support to establish an R&D center. These are part of the government plans to spur innovative growth efforts by local governments.

Policies | 2018-08-08 17:24

President to push forward deregulation

President Moon Jae-in and his economic team are pushing forward their combined drive to advance deregulation in a step to boost the country's potential growth rate.

Policies | 2018-08-08 17:19

Korea urged to adopt 'negative regulatory system'

Cheong Wa Dae lacks sense of urgency

History teaches that the lack of a sense of urgency about economic situations begets a crisis. This lesson has made some market watchers uneasy about the Korean economy as Cheong Wa Dae is promoting it as being in good shape despite a series of warning signals.

Policies | 2018-08-07 16:52

Gov't to lower progressive power rates for households

The government has decided to ease Korea's progressive electricity pricing this summer, following public concerns over heavy electricity bills amid a heat wave that is blanketing the country.

Policies | 2018-08-07 16:21

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