Most Popular
-
1
Tensions heighten ahead of first president-opposition chief meeting
-
2
Seoul to provide housing subsidy to married couples with newborns
-
3
[KH Explains] No more 'Michael' at Kakao Games
-
4
Rapper jailed after public street fight with another rapper
-
5
Woman gets suspended term for injuring boyfriend with knife
-
6
Samsung chief bolsters ties with Germany’s Zeiss
-
7
NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
-
8
Med schools expect 1,500+ new admission slots next year
-
9
Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
-
10
KT launches new mobile plans for foreign residents
-
NK missile launch has little impact on S. Korean financial market
South Korea said Monday that the latest North Korean missile launch had little impact on its financial market, but it will take swift and firm action against any unexpected developments.Pyongyang fired the Hwasong-14 shortly before midnight last Friday, following its first successful intercontinental ballistic missile launch on July 4. Defense experts said the latest provocation that drew swift condemnation from the international community demonstrated some technical progress compared to previou
July 31, 2017
-
New ministry aims to expand exports of products made by SMEs
The country's new ministry dedicated to small and medium-sized enterprises said Monday it will vitalize the local economy by expanding exports of products made by smaller companies.The Ministry of SMEs and Startups said it aims to expand the proportion of exports made by SMEs to over 40 percent of all outbound shipments by 2022. Small and medium-sized companies accounted for 37.6 percent of exports in 2016, up 5.5 percentage points from 32.1 percent in 2012, according to the ministry. The amount
July 31, 2017
-
Medical community in conflict over minimum wage
The medical community is reeling from the planned minimum wage hike next year, with small neighborhood clinics and hospitals appealing for at least a matching hike in billing rates, industry officials said Monday.The government and labor unions earlier this month agreed on a 16.4 percent hike in the minimum pay for next year, from 6,470 won ($5.76) to 7,530 won. The scale of the hike has drawn protests from many businesses, which say they cannot afford the extra cost, triggering concerns by jobs
July 31, 2017
-
Semiconductor Q2 exports jump fourfold in seven years
South Korea’s semiconductor exports surged to record highs in the second quarter of this year, according to the Bank of Korea’s trade statistics Sunday.The country’s semiconductor export volume index hit 393.97, nearly four times the 100 benchmark in 2010. The export volume also marked a 20.2 percent increase compared to the second quarter of last year, when it stood at 327.86, and a 2.7 percent jump compared to the first quarter of this year. Industry experts say the con
July 30, 2017
-
Record number expected to depart from Incheon airport for vacations
Yeongjong Island -- As South Koreans start taking summer vacation this weekend, Incheon International Airport on Sunday is packed with vacationers traveling overseas.The airport said a record number of some 109,000 is expected to use the airport Sunday to go overseas. The airport was packed with people early in the morning, carrying backpacks and carriers of casual clothes. Excited, some put on straw hats, while others already had their travel pillows wrapped around their necks in preparation fo
July 30, 2017
-
Korean exports forecast to keep posting double-digit growth: Moody's
South Korea's exports are expected to continue to log double-digit growth for a while on the back of steady overseas demand for semiconductors, global market research firm Moody's said Sunday."We expect annual export growth to keep rising at a double-digit pace thanks to the sustained uptick in the tech cycle lifting shipments of semiconductors and machinery," Moody's said in its weekly report. "South Korea's monthly trade surplus likely narrowed to $9.8 billion in July, from $11.
July 30, 2017
-
[Monitor] Pricey property
Land prices nationwide skyrocketed in the first half of this year, pushing the increasing rate of land prices to a nine-year high and the amount of transactions to an 11-year high, data by the Ministry of Land, Infrastructure and Transport showed.Land price surges were particularly led by Sejong, Busan and Jeju Island, with ample development plans.
July 28, 2017
-
BOK chief warns of drop in potential growth rate due to aging population
South Korea's potential growth rate for the foreseeable future could significantly decline because of a shrinking workforce caused by a rapidly aging population, the Bank of Korea chief warned Friday.At a forum with business executives on the southern resort island of Jeju, BOK Gov. Lee Ju-yeol called for deregulations and a search for new growth engines to mitigate the impact of the aging population. The BOK expects South Korea's potential growth rate to stay at 2.8 or 2.9 percent between
July 28, 2017
-
Moon to hold second round of 'beer talks' with business leaders
President Moon Jae-in is set to hold the second round of "candid beer" talks with top business leaders Friday, his office Cheong Wa Dae said, as he seeks to elicit their support for his economic agenda and listen to their difficulties.The meeting will come a day after Moon met with top executives from seven business groups -- Hyundai Motor, LG, POSCO, Hanwha, Shinsegae, Doosan and CJ, along with the head of Ottogi, a leading but comparatively small food company. Friday's dinner gatheri
July 28, 2017
-
Lobby for smaller businesses opposes minimum wage hike
A business lobby representing small-sized businesses on Friday filed a complaint against the government's decision on next year's minimum wage hike. Earlier this month, a tripartite commission of the government, labor and management reached an agreement to increase the minimum hourly wage to 7,530 won ($6.68) in 2018, up 16.4 percent from the current 6,470 won. While the decision was hailed by the labor circle and part-time workers, small business owners immediately expressed concerns, saying it
July 28, 2017
-
Korea's business confidence steady at low levels in July
Business sentiments among South Korean manufacturers remained flat at low levels in July, a survey by the Bank of Korea showed Friday, with the auto industry's confidence plunging over sluggish exports. The monthly business survey index, an indicator of the manufacturers' outlook for the coming month, was 78 in July, flat from a month earlier, according to the BOK survey. The index fell for a second straight month in June after rising to 83 in April. A reading above 100 means that more com
July 28, 2017
-
Korea to sell W6.7tr won in state bond in Aug.
South Korean plans to sell a combined 6.7 trillion won ($6 billion) in state bonds next month, the finance ministry said Thursday. The government will issue 1.45 trillion won in bonds with a maturity of three years, and 1.65 trillion won in five-year bonds in August.It also plans to sell 1.5 trillion won in 10-year Treasurys and a combined 2.1 trillion won of bonds with a maturity of between 20 and 30 years. (Yonhap)
July 27, 2017
-
[Monitor] Korea’s growth slows on weak exports
South Korea’s economic growth slackened in the second quarter of this year from a year ago due to slower exports, mainly in shipments of transportation equipment, petrochemicals and chemical products, data from the Bank of Korea showed Thursday.Exports declined 3 percent from the previous quarter and 0.1 percent from the previous year.But demand for semiconductors remained strong.Meanwhile, consumer sentiment improved under the Moon Jae-in government, with more spending on durable goods, s
July 27, 2017
-
Ministry, ruling party agree to focus tax revision on jobs
The Moon Jae-in government and the ruling liberal Democratic Party of Korea on Thursday agreed that the incoming tax law revision should focus on creating jobs and supporting small businesses.But the two sides failed to settle on how to raise extra tax from the rich. While the party viewed the hike as a crucial step to reform the nation’s economic inequality, the government remained reluctant to impose a direct burden on local businesses. The Democratic Party and the Finance Ministry
July 27, 2017
-
Govt. set to receive W16tr in extra tax revenues for 5 yrs: report
The government will be able to collect about 16 trillion won ($14.3 billion) in additional tax revenues for the coming five years if the tax rate hike for the superrich and top conglomerates advocated by the ruling party are implemented, a parliamentary report said Thursday.Rep. Choo Mi-ae, leader of the ruling Democratic party, has proposed raising tax rates for the super-rich and top-earning conglomerates to help finance the Moon Jae-in administration's welfare and job creation agenda estimate
July 27, 2017
-
President to meet top business leaders for beer, candid discussions
President Moon Jae-in was set to meet with the country's top business leaders Thursday for beer and frank discussions that may help fine-tune his economic policies, officials at the presidential office Cheong Wa Dae said.The meeting will begin at 6 p.m. with what the officials called a 20-minute beer time.The rare meeting involving beer comes at a suggestion from the president himself, according to the officials. "It will mark the first meeting with business leaders since the president's in
July 27, 2017
-
Korea's economic growth slows in Q2 on weak exports: BOK
South Korea's economic growth slowed in the April-June period from a quarter earlier due to decreased exports, central bank data showed Thursday.In the second quarter, the country's gross domestic product increased 0.6 percent, down from the previous quarter's 1.1 percent gain, the Bank of Korea said in a statement.Exports -- one of the major pillars for the Korean economy -- fell 3 percent in the June quarter compared with three months earlier and declined 0.1 percent from the previous year, wh
July 27, 2017
-
ABS issuance rises 15% in H1
The issuance of asset-backed securities in South Korea rose 15 percent on year in the first half of this year on the back of robust growth in sales of government-led mortgage funds, the financial regulator said Thursday. A combined 31.1 trillion won ($27.7 billion) worth of ABS were issued for the January-June period, compared with 27 trillion won for the same period last year, the Financial Supervisory Service said. ABSs are derived from underlying assets such as auto loans, home loans, credit
July 27, 2017
-
New ministry dedicated to SMEs sets sail
The new ministry in charge of small and medium-sized businesses officially started work Wednesday amid expectations it will support smaller companies and create new jobs.Earlier this month, the parliament passed a bill to elevate the Small and Medium Business Administration to a ministry for SMEs, venture startups and micro-businesses, as pledged by President Moon Jae-in during the election campaign.The Ministry of SMEs and Startups is headquartered in Daejeon, central South Korea, with 431 empl
July 26, 2017
-
Moon will hold talks with all economic players, including labor: official
President Moon Jae-in plans to hold talks with all major economic players here, including laborers and small or medium-sized firms, an official from the presidential office Cheong Wa Dae said Wednesday.The president is set to meet with 15 business conglomerates on Thursday and Friday.Hong Jang-pyo, the chief presidential secretary for economic affairs, said the first day of the meeting will involve top executives from eight business groups -- Hyundai Motor, LG, POSCO, Hanwha, Shinsegae, Doosan,
July 26, 2017