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Finance

Policies

Sat, August 8, 2020 | 15:37

Securities firms brace for MyData business

Securities firms brace for MyData business

Korea's financial industry is heading towards greater innovation based on various applications of big data from clients. With the implementation this month of revisions to three data-related laws - the Personal Information Protection Act, the Information, Communications Network Act and the Protection of Credit Information Act - financial firms now have more leeway in their us...

Anna J. Park | 2020-08-06 18:34

'New Deal' funds raise concern

'New Deal' funds raise concern

The government's initiative to create “K-New Deal” funds raises some concerns over the possible lead-up to tax revenue loss, as managing the funds without tax-driven financing will be difficult, market insiders said Thursday.

Lee Min-hyung | 2020-08-06 17:10

Former BOK chief fulfills social responsibility

Former BOK chief fulfills social responsibility

Former Bank of Korea (BOK) Governor Park Seung donated 1 billion won ($845,000) earlier this month to Baeksuk Elementary School in Gimje, North Jeolla Province, from which he graduated, as part of efforts to fulfill his social responsibility.

Park Jae-hyuk | 2020-08-06 17:05

Ruling party, gov't to set up 'K-New Deal' funds

Ruling party, gov't to set up 'K-New Deal' funds

Under President Moon Jae-in and his economic team's initiatives to boost home-grown technologies and help local small- and medium-sized enterprises (SMEs) expand their footing in industrial components in the wake of worsening Korea-Japan relations, the ruling Democratic Party of Korea (DPK) joined hands with the private financial sector and the government to create “K-New Dea...

Anna J. Park | 2020-08-05 17:06

Conflict deepens over 'bungled' real estate policy

Conflict deepens over 'bungled' real estate policy

Deputy Prime Minister and Finance Minister Hong Nam-ki said the government's plan to build new housing in Seoul and the surrounding Gyeonggi Province will be pushed ahead as planned, Wednesday, railroading the opposition raised by the Seoul Metropolitan Government for what the city government considers “excessive government intervention” that distorts market principles.

Lee Kyung-min | 2020-08-05 17:03

South Korea to supply 132,000 homes in and around Seoul

South Korea to supply 132,000 homes in and around Seoul

The government announced Tuesday that it will facilitate the supply 132,000 new homes in Seoul and the surrounding Gyeonggi Province by easing construction rules and making more land available in its latest effort to curb property speculation and stabilize home prices.

Lee Kyung-min | 2020-08-04 17:21

Foreign homeowners face probe into suspected tax evasion

Foreign homeowners face probe into suspected tax evasion

Foreign homeowners face probe into suspected tax evasion

The National Tax Service (NTS) has launched an audit into 42 foreign nationals, who each ...

Lee Kyung-min | 2020-08-03 17:00

South Korea to supply 132,000 homes in and around Seoul

Restrictions on short-selling likely to be extended

Restrictions on short-selling likely to be extended

Remarks on a possible extension of a six-month ban on short-selling is refueling controversy over the measure. The government's ban which went into effect on March 16, is set to come to an end on Sept. 15, but recent remarks by the Financial Services Commission chief have implied the ban could be extended.

Kim Bo-eun | 2020-08-03 17:00

Apartment 'jeonse' deals in Seoul hit 9-year low in July

Apartment 'jeonse' deals in Seoul hit 9-year low in July

Apartment lease contracts in the South Korean capital of Seoul sank to a nine-year low in July amid tighter rules, municipal data showed Monday. The number of apartment lease contracts, called "jeonse" here, stood at 6,304 in July, the lowest monthly level since data tracking began in 2011, according to the data from the Seoul city government.

2020-08-03 09:32

Gov't to crack down on foreigners' real estate speculation

Gov't to crack down on foreigners' real estate speculation

The ruling Democratic Party of Korea (DPK) and the government have been pushing for their plan to impose a hefty tax on foreigners buying homes in Korea for investment purposes, in the latest effort to limit further fallout of nearly two dozen botched real estate policies over the past three years.

Lee Kyung-min | 2020-07-31 18:07

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