The Korea Herald

High-income earners dodge national pension subscription

Oct 14, 2020

The amount of national pension premiums unpaid by high income-earners in South Korea totaled nearly 1 trillion won ($871 million) as of June this year, data showed Wednesday. According to a report f...
BOK keeps interest rate unchanged

Oct 14, 2020

Central bank keeps base rate frozen, addressing concern of aggravated household loan, housing markets
S. Korea continues efforts to stabilize FX markets

Oct 14, 2020

SEJONG -- South Korea's vice finance minister said Wednesday that the government has continued efforts to stabilize foreign exchange markets, citing the "relatively speedy" strength of the Korean cur...
S. Korea to hold population census this week amid pandemic

Oct 14, 2020

SEJONG -- South Korea will hold a national census this week, the statistics agency said Wednesday, amid the coronavirus pandemic. Statistics Korea asked people to use mobile phones, fixed-line telep...
BOK freezes key rate amid virus fallout and growing household debt

Oct 14, 2020

South Korea's central bank froze its key interest rate at a record low Wednesday amid heightened economic uncertainties over the protracted coronavirus outbreak and rising housing prices. The Bank o...
S. Korea seeks to supply more homes to newlyweds, first-time homebuyers

Oct 14, 2020

SEJONG -- South Korea plans to supply more homes to newlyweds and first-time homebuyers through public and private development projects, Finance Minister Hong Nam-ki said Wednesday. About 92 percent...
IMF slightly upgrades S. Korea's growth forecast for this year

Oct 13, 2020

The International Monetary Fund said Tuesday that South Korea's economy will shrink 1.9 percent this year as the coronavirus pandemic ravaged exports and consumption. The IMF's latest forecast repre...
Korean shipbuilders likely to win more orders for LNG ships this year

Oct 13, 2020

South Korean shipbuilders are expected to win orders later this year to build liquefied national gas (LNG) ships in Africa, analysts said Tuesday. In the January-September period, local shipbuilders...
NTS returns W300b tax to overseas funds after losing lawsuits

Oct 13, 2020

South Korea’s tax agency has returned over 300 billion won ($260.89 million) of corporate tax to overseas funds over last five years, after losing lawsuits related to tax returns. According to data...
[News Focus] Korea No. 2 in OECD in growth of property taxes

Oct 13, 2020

For corporate tax increases, the nation ranks 3rd
Banks' household loan growth still higher in Sept. on home-backed lending

Oct 13, 2020

South Korean banks' household loans continued to grow at a fast pace in September largely due to accelerated home-backed lending amid soaring home prices, central bank data showed Tuesday. Outstandi...
FDI pledges to S. Korea up 43.6% in Q3 despite pandemic

Oct 13, 2020

Foreign direct investment (FDI) pledges to South Korea shot up 43.6 percent in the third quarter of 2020 from a year earlier, data showed Tuesday, as the manufacturing segment drew a massive investme...
S. Korea seeks balanced regional development under New Deal projects

Oct 13, 2020

SEJONG -- South Korea plans to pursue balanced regional development under Korean-version New Deal projects that aim to boost growth of the coronavirus-hit economy, Finance Minister Hong Nam-ki said T...
S. Korea vows to maintain exports recovery in Q4: finance minister

Oct 12, 2020

SEJONG -- South Korea's finance minister said Monday the government will spare no efforts to maintain momentum of recovery in exports in the fourth quarter of this year. Finance Minister Hong Nam-ki...
Foreign investment banks slash growth forecasts for S. Korea

Oct 12, 2020

Major foreign investment banks have revised down their economic growth forecasts for South Korea with the resurgence of the coronavirus slowing the country’s economic recovery, data showed Monday. N...