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Finance

Policies

Sat, October 23, 2021 | 14:09

[Contribution] What ails Korea's housing market?

Since 2018, Korea has witnessed rapidly rising housing prices, particularly in the Seoul metropolitan area, resulting in growing concerns among policymakers and homeowners alike. Housing prices in Korea have increased by nearly 20 percent since January 2020, and a house can now cost more than 10 times the average annual household income. The problem is even more acute in the ...

Lee Kyung-min | 2021-10-23 09:00

[Reporter's Notebook] Korea should speed up discussion on bitcoin ETF launch

The recent launch of bitcoin futures exchange-traded funds (ETF) in the U.S. is a stark reminder of how far Korea is lagging behind its global peers in discussions over the development of a digital financial market, bogged down in large part by nervous policymakers, regulators and legislators questioning the validity of digital currency.

Lee Kyung-min | 2021-10-22 16:38

Bank of Korea expected to revise down 2022 GDP growth forecast

The Bank of Korea (BOK) is expected to lower its 2022 GDP growth forecast below 3 percent due to downside risks facing the country, including continued supply chain bottlenecks, prolonged power shortages in China and the possible downsizing of growth predictions for the world's second largest economy.

Lee Min-hyung | 2021-10-22 15:19

Korea to temporarily cut fuel taxes amid rising oil prices

South Korea plans to temporarily cut fuel taxes in a bid to ease upward pressure on inflation amid surging oil prices, a senior government official said Friday.

2021-10-22 09:50

Starbucks under scrutiny of financial watchdog

Starbucks Coffee Korea has been included in the Financial Supervisory Service's (FSS) inspection of the financial soundness of 58 digital cash issuers that are not registered as electronic financial business operators, the financial watchdog said Thursday.

Park Jae-hyuk | 2021-10-21 16:51

Bank of Korea, financial authorities responsible for household debt: BOK chief

The Bank of Korea (BOK) and financial authorities should bear collective responsibility for the surging household debt and widening financial imbalance here, BOK Governor Lee Ju-yeol said Thursday during a National Assembly audit.

Lee Min-hyung | 2021-10-21 16:43

High inheritance tax hampering entrepreneurship

Oct. 25 marks the first anniversary of the death of Samsung Group Chairman Lee Kun-hee. During the past year, the bereaved family handled a huge task: paying 12 trillion won ($10.1 billion) in inheritance tax. The family, which obtained loans to pay the tax, recently decided to sell 2 trillion won worth of shares. The story has turned the spotlight on Korea's high inheritance...

Yoon Ja-young | 2021-10-21 09:02

Gov't considering temporary fuel tax cut amid surging prices

South Korea is considering temporarily lowering fuel taxes to ease consumer burden from surging gasoline prices, the country's top economic policymaker said Wednesday.

2021-10-20 14:19

[Contribution] Climate Response Fund's effectiveness will be determined by 'how well it is spent'

As the COVID-19 pandemic has unfolded with its severe economic and social implications, OECD governments have responded with unprecedented fiscal resources to support businesses and families in order to mitigate its effects. Korea has been especially resourceful in its use of budget measures in this regard.

Lee Kyung-min | 2021-10-20 13:42

[ANALYSIS] New Capital Markets Act weighs on smaller PEFs

The enforcement of the revised Financial Investment Services and Capital Markets Act from Thursday this week has created a stir over the possibility of widening the gap between large and small private equity firms (PEFs) here.

Park Jae-hyuk | 2021-10-20 10:55

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