Disputed antigraft law ruled constitutional

The Korea Herald > Business > Economy

Agriculture, fisheries ministries to request adjustments to anti-graft law

[THE INVESTOR] South Korea’s two ministries overlooking agriculture and fisheries on July 28 said they would request the Ministry of Government Legislation’s policy coordination committee to make ad...

Updated : 2016.07.28 16:50

Constitutional Court subjects journalists, private school faculty to new anti-graft law

[THE INVESTOR] The constitutional court of South Korea on July 28 ruled that a controversial anti-graft law set to be implemented later this year is “constitutional” to subject journalists and priva...

Updated : 2016.07.28 15:22

Korea to widen tax credits to boost investment, consumption

South Korea set out new tax code revisions Thursday, seeking to boost corporate investments in new future industries and household income and spending to cope with faltering exports and flaccid domestic demand.The government finalized the plan at a meeting chaired by Finance Minister Yoo I...

Updated : 2016.07.28 15:09

Special tax rate for foreigners to be raised, extended until 2019

[THE INVESTOR] The special income tax rate for foreign nationals will be extended until the end of 2019, but raised by 2 percentage points, the government announced on July 28.According to the tax rev...

Updated : 2016.07.28 14:48

Seoul to require detailed tax data from multinational firms

[THE INVESTOR] South Korea will require multinational corporations to submit business records including those regarding taxation, as part of its efforts to curb tax evasion. According to the revised t...

Updated : 2016.07.28 14:47

Korean firms' business sentiment worsens for Aug.

A majority of large South Korean firms expect their business conditions to further deteriorate next month due to weak demands at home and abroad, a survey showed Thursday.The business survey index came to 89.5 for August, down from 90.5 for this month, according to the Federation of Korean...

Updated : 2016.07.28 11:13

Consumer sentiment improves in July

South Korea’s consumer sentiment index rebounded toward its previous high over three months in July, as concerns over corporate restructuring and the Brexit vote both at home and abroad fell, followi...

Updated : 2016.07.27 17:17

Extra budget vital for job creation: Park

President Park Geun-hye said Wednesday that the extra budget submitted to parliament will play a crucial role in bolstering job creation, calling on lawmakers to lend their support by promptly approvi...

Updated : 2016.07.27 16:20

Minister issues warning against strike

Finance Minister Yoo Il-ho said Wednesday that the government will deal with the laborers of conglomerates under a creditor-led workout going on strike. In an economic-related ministerial meeting in S...

Updated : 2016.07.27 16:11

Korea‘s overseas afforestation makes progress

The Korea Forest Service has made significant progress in developing forest resources abroad in order to secure long-term, stable lumber resources and expand carbon sinks to cope with global climate c...

Updated : 2016.07.27 16:03

Korea’s reforestation expertise under global spotlight

Foreigners visiting South Korea are often surprised to find mountains that are filled with green trees in all corners of the country. However, most young Koreans are not aware that their parents and t...

Updated : 2016.07.27 15:55

Korea initiates Mongolia into forestry

The Korea Forest Service signed a memorandum of understanding last week with Mongolia’s ministry of environment, green development and tourism to jointly combat desertification, according to KFS offi...

Updated : 2016.07.27 15:54

Nearly 50 million flight passengers in first half of 2016

Flight passengers in Korea hit an all-time high in the first half of 2016, totaling nearly 50 million, according to Transport Ministry data on Wednesday.Korea saw 49.8 million people traveling by air ...

Updated : 2016.07.27 15:45

Youth employment policy gets nowhere

Since its installment in February 2013, President Park Geun-hye’s administration has put increasing youth employment on top of its policy agenda. It has poured more than 4 trillion won ($3.5 billion)...

Updated : 2016.07.27 15:39

BOK chief: Fiscal policy more important than monetary policy amid low growth

The head of South Korea's central bank on Wednesday stressed the importance of a fiscal and restructuring policy than a monetary one in tackling the country's low growth.Bank of Korea Governor Lee Ju-...

Updated : 2016.07.27 14:21