The Korea Herald

S. Korea to tighten monitoring on outflow of investment by foreigners

Dec 9, 2019

Addressing the latest drop in investment by foreigners here, South Korea’s government reassured the market on Monday, saying it would enhance monitoring and put a contingency plan into action in the ...
41-year-olds have highest average labor income

Dec 9, 2019

Workers in South Korea hit the highest average annual earnings at the age of 41 in 2016, data showed Monday, with the labor income of the elderly also showing a steady rise. People aged 41 earned th...
S. Korea to up national information budget to W5.1tr in 2019

Dec 9, 2019

South Korea's budget for national information will rise to over 5.1 trillion won ($4.3 billion) in 2019 to promote the building of a hyperconnected society, the government said Monday. The budget to...
Some 30% of working moms were irregular workers: data

Dec 6, 2019

About one-third of South Korean working mothers with underage children were irregular workers paid lower wages, data showed Friday, underscoring the reality that taking time off to raise children is ...
Finance minister calls for passage of budget bill

Dec 5, 2019

Finance Minister Hong Nam-ki urged officials on Thursday to make efforts to help the National Assembly approve next year's budget bill by next Tuesday, when the parliamentary session ends. South Kor...
S. Korea’s current account surplus hits 12-month high in Oct.

Dec 5, 2019

South Korea’s current account surplus continued to grow in October from the previous month to reach a 12-month high as the service account deficit narrowed and primary income account surplus expanded...
S. Korea adds 260,000 jobs in 2018

Dec 5, 2019

South Korean companies added 260,000 jobs in 2018 from a year earlier, government data showed Thursday, amid concerted efforts to hire more workers. The job gains were compared with 2017, when South...
S. Korea's current account surplus reaches 12-month high in Oct.

Dec 5, 2019

South Korea's current account surplus grew slightly from a month earlier to reach a 12-month high in October as its service account deficit narrowed while its primary income account surplus expanded,...
S. Korea to spend W300b on ‘fintech unicorn’ project

Dec 4, 2019

The Finance Ministry announced Wednesday plans to establish a 12 trillion won ($10 billion) fund to help support competent startups scale up as unicorns, allocating 300 billion won exclusively for fi...
Tax agency unveils list of habitual tax delinquents

Dec 4, 2019

The country's tax agency on Wednesday disclosed a fresh list of some 6,800 new citizens and corporate entities with unpaid taxes exceeding 200 million won ($167,462) for one year or longer. The Nati...
Finance minister dismisses fears of deflation

Dec 4, 2019

South Korea's chief economic policymaker said Wednesday he sees no acute risk of deflation, adding that next year's projected inflation rate will be higher than this year's. The remarks by Finance M...
Imported car sales rise 14 % in Nov. on new models

Dec 4, 2019

Imported car sales in South Korea rose 14 percent on-year last month, helped by new models, industry data showed Wednesday. The number of newly registered foreign vehicles rose to 25,514 units in No...
[Monitor] House prices soar despite tough regulations

Dec 3, 2019

Despite the Moon Jae-in government’s eighth and latest set of measures to curb real estate prices in the fall, prices of houses and those for lease have shot up, according to data by the Korea Apprai...
Finance Ministry’s slow budget execution casts doubt on growth outlook

Dec 3, 2019

Ministry cites pangovernmental reserve funds as reason
S. Korea, Cambodia sign double taxation avoidance pact

Dec 3, 2019

South Korea and Cambodia have signed a double taxation avoidance pact, in a move to boost bilateral economic cooperation, Seoul's finance ministry said Tuesday. The pact was signed last week in Busa...