Lee Jong-suk, Park Shin-hye still undecided about ‘Pinocchio’

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Corporations’ extra taxes average W1.29b: NTS

Corporations in South Korea were ordered to pay an average of 1.29 billion won ($1.27 million) in additional taxes in 2013 as a result of government-led tax audits, data showed Wednesday.The amount is larger than the average 1.09 billion won that corporations had to pay in additional taxes...

Updated : 2014.08.20 21:37

Korea’s tax collection success falls in H1

South Korea’s national tax collection inched up during the first half from a year earlier, but its pace of growth slowed, government data showed Wednesday. The government’s national tax collection came to 98.4 trillion won ($96.5 billion) during the January-June period, up 1.2 trillion w...

Updated : 2014.08.20 21:20

Chinese spending in S. Korea to top 30 tln won in 2020: report

Chinese tourists' spending in South Korea may exceed 30 trillion won (US$ 29 billion) six years from now on the back of a rapidly surging number of visitors from the neighboring country, a report said Wednesday.Spending by travelers from China is expected to reach 30.5 trillion won in 2020...

Updated : 2014.08.20 14:29

Fitch maintains sovereign ratings on S. Korea

Global credit appraiser Fitch Ratings said Tuesday that it has affirmed its sovereign ratings on South Korea, citing its "resilient" growth, "moderate" government debt, and "sustained" budget surpluses.Fitch retained its ratings on South Korea at "AA-," the fourth-highest of its rating sys...

Updated : 2014.08.19 20:57

Seoul shares rise 0.88% on eased Ukraine concerns

South Korean stocks ended up 0.88 percent to a two-week high Tuesday as investor sentiment was boosted by signs of progress on multilateral talks for a ceasefire in Ukraine, analysts said. The local currency slightly gained against the U.S. dollar.The benchmark Korea Composite Stock Price ...

Updated : 2014.08.19 20:51

Conglomerates hold almost 31 tln won of Gangnam real estate

South Korea's top 10 business groups held real estate worth nearly 31 trillion won (US$30.4 billion) in the three Gangnam districts of southern Seoul, data showed Tuesday, with Samsung Group listed as the richest property holder there.Samsung held property worth 12.68 trillion won in the a...

Updated : 2014.08.19 12:33

Public firms ordered to pay 230 bln won in additional taxes last year: NTS

South Korea's public organizations were ordered to pay about 230 billion won (US$226 million) in additional taxes last year as a result of tax audits, government data showed Tuesday.According to the data provided by the National Tax Service (NTS), public firms and other state-run institute...

Updated : 2014.08.19 09:49

S. Korean service industry sees fast growth

South Korea's service industry has rapidly increased sales and employment over the last five years, outperforming the manufacturing sectors, data showed Monday. The number of workers employed by 330 listed companies in the seven service sectors jumped 46.5 percent to 274,766 last year, up ...

Updated : 2014.08.18 11:45

Entertainment spending for business deals tops 9 tln won in 2013: tax agency

Local firms spent more than 9 trillion won (US$8.8 billion) last year on business-related entertainment, government data showed Monday, indicating they continued to spend heavily to treat clients despite the slumping economy.According to the National Tax Service, the firms are estimated to...

Updated : 2014.08.18 10:35

'Sin stocks' surge on hopes of higher dividends

"Sin stocks" of tobacco, alcohol and gambling companies have gained recently on hopes of bigger dividends after the administration's new economic team introduced measures to induce companies to pay higher returns to investors in a bid to revitalize the sluggish economy, data showed Wednesd...

Updated : 2014.08.13 09:59

Korea’s farm exports surge 11% in July

South Korea’s exports of farm products jumped 11 percent from a year earlier in July on growing shipments to major markets, including China and the United States, the government said Tuesday. Outbound shipments of farm products, including processed food and agricultural goods, came to $52...

Updated : 2014.08.12 21:25

Gov't unveils measures to attract more foreign investments

South Korea will support the launch of for-profit foreign hospitals on Jejudo Island and other free economic areas in a bid to induce foreign investment in promising service sectors, the government sa...

Updated : 2014.08.12 10:46

S. Korea seeks to boost exports by small and medium-sized firms

South Korea will develop 10,000 new small and medium-sized exporters by 2017 as a way of enlarging its overall exports and boost electronic trade by more than 10-fold, the trade ministry announced Tuesday.In its report to the trade-investment promotion commission chaired by President Park ...

Updated : 2014.08.12 10:30

Gov't to develop mountain tourism

The South Korean government said Tuesday it will build more cable cars and resorts to help boost tourism in forests and mountain areas as it unveiled a set of measures to invigorate the country's trade and investment. South Korea has yet to explore and develop the mountain tourism industr...

Updated : 2014.08.12 10:29

Seoul bourse to broaden daily stock price change band

South Korea will allow wider fluctuation in daily stock prices in an attempt to give the dulled local equity market a much-needed boost and strengthen the autonomy in price-setting, the country's financial regulator said Tuesday.South Korea currently limits daily price changes to 15 percen...

Updated : 2014.08.12 10:26