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Vocational education eyed as remedy for youth unemployment

The Finance Ministry announced Tuesday that it would provide young jobseekers with more opportunities by benchmarking the Switzerland-based vocational education system.While the Swiss apprenticeship f...

Updated : 2014.04.15 21:21

Gov't seeks to introduce apprenticeship to boost youth employment

The South Korean government said Tuesday it will introduce an apprenticeship system similar to that of Switzerland where students can receive education or training while also working, a move aimed at boosting the country's youth employment rate.The measure is an effort to improve the count...

Updated : 2014.04.15 10:47

[Graphic News] Income divide widening among salaried workers

The number of salaried Korean workers earning over 100 million won ($96,200) a year and those earning less than an annual 30 million won both rose over a span of four years, according to government da...

Updated : 2014.04.14 20:42

[SUPER RICH] Korea vs. U.S.: Executive salary gap

The nation appears to still be reeling after the staggering salaries received by executives at local conglomerates were revealed.The companies recently reported on the annual salaries paid to these ex...

Updated : 2014.04.14 20:21

Gap widening between GDP growth, sentiment

The Bank of Korea’s recent data showed that the gap between the nation’s overall economic growth and ordinary people’s sentiments is likely to widen in 2014.The central bank has been unveiling an a...

Updated : 2014.04.13 20:09

Korea seeks to remove non-tariff barriers set by its main trade partners

The trade ministry said Sunday that it is seeking ways to remove non-tariff barriers set by its main trade partners on concerns they may sap Seoul's overseas shipments.China topped the list with 35 cases of non-tariff barriers, followed by the U.S. with 31 and Japan with 31, according to t...

Updated : 2014.04.13 15:32

[Desk Column] The great salary divide

The recent unveiling of the multi-billion won salaries that registered board of directors at Korean companies took home seems to have shaken many, including myself.But as I was unsure of exactly how t...

Updated : 2014.04.10 20:54

Korea left with little choice on rice market opening: officials

Korea may have no choice but to open up its rice market, government officials here said Thursday, one day after the World Trade Organization again rejected the Philippines’ request to waiver its mandatory rice market liberalization.It was the sixth time the WTO has rejected such a request...

Updated : 2014.04.10 20:42

Korean listed firms’ debt ratios fall in 2013

Korean listed firms saw their debt ratios fall last year as they stepped up efforts to improve their financial status amid protracted economic uncertainties, data showed Wednesday.The average debt ratio for 568 companies traded on Seoul’s main bourse came to 88.19 percent at the end of la...

Updated : 2014.04.09 20:50

Simpler customs clearance planned for products purchased via foreign websites

South Korea’s customs agency said Wednesday it will simplify the customs clearance process for low-priced consumption goods purchased on foreign websites, a move aimed at shortening delivery time and increasing benefits to consumers.The Korea Customs Service said it will apply the clearan...

Updated : 2014.04.09 20:50

S. Korea's national debt rises to 1,117 tln won

South Korea's national debt rose to about 1,117 trillion won ($1.06 trillion) in 2013 mainly due to increased pension liabilities, the finance ministry said Tuesday.According to a settlement of accounts for last year's budget compiled by the ministry and approved by the Cabinet, South Kore...

Updated : 2014.04.08 08:28

Gov't to push selective deregulation: PM

(Yonhap) -- South Korea's Prime Minister Chung Hong-won said Monday that the government's deregulation campaign is designed to remove only excessive regulations, not all of them, amid criticism over the possibility of "indiscriminate" deregulation.President Park Geun-hye has initiated a dr...

Updated : 2014.04.07 22:08

Overseas orders for Korean industrial plants jump 42.1% in Q1

Overseas orders for South Korea’s industrial plants surged from a year earlier in the first three months, with large increases in orders from Africa and the Middle East, the government said Monday.In the January-March period, overseas orders amounted to $16.8 billion, up 42.1 percent from...

Updated : 2014.04.07 20:48

[Newsmaker] Korea suffers youth unemployment blues

Key economic indicators seem to point toward Korea making a solid recovery.The country’s output has been growing thanks to exports. Its consumer spending has picked up on the back of growing welfare ...

Updated : 2014.04.06 20:48

Stocks to receive boost on foreign buying

Shares on the local bourse are expected to rally this week on steady buying from foreign investors, who are likely to stay positive thanks to solid economic data from home and abroad, according to analysts.They now expect the Korean market to settle above the touted 2,000-point level, noti...

Updated : 2014.04.06 20:34