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Sun, December 10, 2023 | 00:15
Clergymen face taxation from 2018
Religious leaders will have to start paying income taxes, as the government plans to lift their tax exemption in January 2018, the Ministry of Strategy and Finance said Thursday. This comes after 50 years of disputes over what a non-governmental taxpayers’ alliance called a special favor.
Businesses up in arms over China FTA fund
The government’s plan to raise a 1 trillion won ($864 million) fund from businesses to support farmers and fishermen following ratification of a free trade agreement (FTA) with China in the National Assembly, Monday, is drawing a huge backlash from the private sector. The ruling Saenuri Party and the main opposition New Politics Alliance for Democracy agreed on the creation o...
China FTA to trigger fierce competition
Korea’s passage of the free trade deal with China will give companies across the nation opportunities to expand into Asia’s fastest growing economy, though competition with low-priced Chinese imports likely will intensify at home, analysts said Monday.
Web-only banks emerging woes for existing banks
The government’s approval of two consortiums as the country’s first Internet-only banks - led by information technology firms - will fuel competition in the banking industry in the long term, analysts said Monday.
Female rookies hit record high at BOK
Females who found jobs at the male-dominated Bank of Korea (BOK) this year hit a record high 43 percent, up from 32 percent a year earlier, the central bank said Friday.
KEB Hana strengthens mobile security
KEB Hana Bank will next year shield its mobile users with advanced security technology developed by U.K.-based security outfit Trustonic.
KDB fund to help ventures go overseas
The Korea Development Bank (KDB) will set up a 350 billion won ($305 million) fund with multinational venture capital firms to help Korean ventures advance into global markets, the state-run bank said Thursday.
Court rules in favor of Tong Yang victims
A Seoul court ruled Friday in favor of a group of customers who filed a suit against Tong Yang Group’s former brokerage unit which sold commercial papers of financially-troubled group affiliates to them.
Deutsche Korea ordered to pay W28 bil. damages
The Seoul Central District Court has ordered Deutsche Bank Korea and Deutsche Securities Korea to pay 28 billion won ($25 million) in compensation to five Korean financial firms for unfair trading practices carried out five years ago, a court spokesman said Wednesday.
Woori pins hopes on Internet-only bank
Woori Bank is pinning hopes on WiBee Bank, a test bed for an Internet-only bank, as more people are using mobile devices to take out loans and use other products.
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