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Finance

Policies

Wed, October 21, 2020 | 08:14

Gov't needs to compile data on foreign home buyers

Gov't needs to compile data on foreign home buyers

The government is being urged to set up a system to compile data on properties owned and traded by foreign nationals to better identify taxable income and prohibit speculation amid their suspected growing presence in the property market, a ruling party lawmaker said Tuesday.

2020-10-20 16:58

Korea can be used as haven for foreign landlords

Korea can be used as haven for foreign landlords

Korea can be used as haven for foreign landlords

The government is facing calls to prevent foreign landlords from fleeing abroad without returning rental deposits to their tenants, after it was revealed that some were able to use loopholes in domestic real estate laws.

2020-10-20 15:35

Gov't needs to compile data on foreign home buyers

Questions linger over New Deal Fund

Questions linger over New Deal Fund

The much-hyped New Deal Fund may not be as effective a growth plan as the government expects, unless preceded by a drastic measure to guarantee profit margins acceptable to businesses that have no need to borrow money at a higher rate from the fund pooled by the public, experts said Thursday. The profit-oriented infrastructure builders and renewable energy producers will have...

2020-10-19 18:13

Finance ministry's portal 'useless'

Finance ministry's portal 'useless'

Open Fiscal Data, a tax revenue and expenditure data portal set up and operated by the Ministry of Economy and Finance, remains underutilized by the public despite a hefty investment of 600 million won ($525,000) spent to update the system in 2018, an opposition party lawmaker said Monday.

2020-10-19 16:55

Korea needs to embrace inclusive policies for multiracial families

Korea needs to embrace inclusive policies for multiracial families

Korea needs to become more accepting of those with foreign backgrounds, a task that requires continued nationwide advertising and education campaigns to end discrimination, experts said Sunday. Social cohesion will be best achieved through consistency in education and awareness-raising programs, backed by sensitivity training of not only children but also their parents and ed...

2020-10-18 17:34

Talks over overhauling financial supervisory system reignited

Talks over overhauling financial supervisory system reignited

The decades-old controversy over the financial authorities' supervisory system has been reignited amid the National Assembly's annual audit of government agencies.

2020-10-14 17:30

Quantitative easing premature for Bank of Korea: governor

Quantitative easing premature for Bank of Korea: governor

The Bank of Korea (BOK) does not have any immediate plans to apply quantitative easing measures by increasing bond purchases, as the economy is on track for a gradual recovery amid diminishing signs of virus-induced uncertainties, BOK Governor Lee Ju-yeol said Wednesday.

2020-10-14 16:59

'1 in 5 foreign shareholders could be linked to tax dodging'

'1 in 5 foreign shareholders could be linked to tax dodging'

Over 20 percent of foreign shareholders were registered in “tax haven” countries often used for overseas tax evasion and other illegalities, a ruling party lawmaker said Wednesday.

2020-10-14 16:24

'Your responses to census are safe and secure'

'Your responses to census are safe and secure'

The numbers of foreign residents and multicultural families in Korea continue to increase.

2020-10-14 16:03

Bank of Korea freezes key rate amid virus fallout and growing household debt

Bank of Korea freezes key rate amid virus fallout and growing household debt

South Korea's central bank kept its policy rate steady at a record low of 0.5 percent Wednesday as it is assessing the impact of the protracted coronavirus outbreak on the economy. As widely expected, the Bank of Korea's (BOK) monetary policy board stood pat on the benchmark seven-day repo rate for the third straight occasion.

2020-10-14 09:40

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