Growth slows to 0.6% on weak consumption

The South Korean economy expanded 0.6 percent in the second quarter from three months earlier, growing at the slowest pace in five quarters as sluggish consumption sapped growth, central bank data showed Thursday.The quarterly gro...

Seoul to push tax on corporate cash reserves

The South Korean government announced a set of economic stimulus measures on Thursday, including a controversial plan to levy taxes on cash reserves kept at the nation’s largest companies. The finance ministry said, the tax schem...

Businesses object to cash reserve tax

A local corporate lobby on Thursday expressed deep concerns about a controversial plan unveiled by new Finance Minister Choi Kyung-hwan to tax companies’ cash reserves as part of a bigger blueprint to help revive the economy. “T...

U.S. Chamber of Commerce chief urges FTA implementation

The head of the U.S. Chamber of Commerce on Thursday called for the faithful implementation of the free trade agreement between South Korea and the United States to improve the global competitiveness of both countries and their bu...