New global digital tax will push up Korea’s tax revenue: minister

The implementation of the new global digital tax regime will lead to a small increase in tax revenue for the South Korean government, the country’s finance minister said Oct. 14. The two-pillar tax proposal on taxing the digital economy and ushering in a global minimum tax rate, spearheaded by the Organization for Economic Cooperation and Development, was endorsed by 136 countries Oct. 15. Pillar one aims to reallocate some tax revenue from where multinationals post profit to where the

Alceon raises Korean capital for debt strategies in Australia

Sydney-based investment manager Alceon has raised a combined 55 billion won ($46.3 million) of capital from a South Korean institutional investor for its nonbank loan strategies designed to finance Australian real estate development projects. Alceon’s senior debt vehicle, named Alceon Australian Real Estate Corporate Senior Loan Fund, received capital from Korean allocator ABL Life Insurance from last year until September, bringing its fund under management to 383 million Australian dolla

Toss Bank halts loan services on authorities’ debt limit

Facing renewed state drive to curb debts, shares in Kakao Bank also fall 40% from August peak

BOK to join move for setting global standards for stablecoin

South Korea’s central bank said Oct. 14 it has decided to join a global movement of financial regulators to set up standards for stablecoins, saying it would adopt the rules in the local market once they are introduced. Stablecoins are a form of cryptocurrency designed to have a stable value tied to traditional government-backed currencies, or to a commodity such as gold, to dodge the volatilities that Bitcoin and other cryptocurrencies have. The Bank of Korea’s announcement comes

Conductor ready for new chapter on podium

Sung Shi-yeon to debut with RCO, BRSO in the 2021-22 season

Taking clarinet center stage

Kim Han, second solo clarinetist of the Finnish Radio Symphony Orchestra, speaks about charms of his chosen instrument

Actor Jung Ho-yeon stays humble amid ‘Squid Game’ craze

For Jung Ho-yeon, 27, playing the role of Sae-byeok in “Squid Game,” directed by Hwang Dong-hyuk, was an unreal experience as she was able to study and learn acting at a new level. “I am honored and feel thankful (to the viewers) for loving my performance in the series. But I am well-aware of how much work I have to do and learn to become a better actor,” Jung said during an online interview with a group of reporters on Friday. “I try not to dwell too much on the

Lee Jung-jae says ‘Squid Game’ surprised him like it shocked the world

Korean top actor is willing to appear in possible “Squid Game Season 2,“ if the director needs him

Hyperlocal e-commerce platforms taking off amid disputes over taxation

Danggeun Market's trailblazing success sending shockwaves throughout Korea's mobile e-commerce market, sparking a boom of community-based trade of used items

Employment index in steady improvement in 2021

But 1 in 8 Koreans still de facto jobless

Korean edtech startups race to catch up with global rivals in robot education

South Korea has been implementing a set of educational policies aimed at helping students and teachers prepare for digital transformation in a wide array of fields. The pandemic that started last year is accelerating the shift in the educational sector toward a digital paradigm, requiring schools and policymakers to rethink the way they teach students as well as what they should teach in a new era. The Korean government, recognizing the sweeping changes sparked by the spread of COVID-19, is

South Korea poised to become home of esports

Esports academies seek to boost students’ chances at becoming professional esports players