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Industry leaders worry about 2019 economy
A number of key figures are warning that the Korean economy is in danger this year, and they say the key is regulatory reform. The heads of major economic organizations, including the Federation of Korean Industries (FKI), the Korea Employers Fede…
Jan 01,2019
Holiday hour calculation may drive up labor costs
A private research organization expressed concern Sunday that a government revision to minimum wage calculations next year could lead to a rapid rise in wages and could ultimately harm the economy. The Korea Economic Research Institute (KERI) said…
Dec 31,2018
Teaching IT in an innovative way isn’t simple
Paris’ 17th arrondissement is home to 42, an institution dedicated to developing IT talent. 42 has no professors and no graduation certificate. There are no semesters and no check on attendance. Students can stay as long as they want at an institutio…
Dec 31,2018
New businesses prove crucial to the economy
Last year, 760,000 people worked in relatively new venture companies, which is slightly higher than number of employees combined at the five leading conglomerates, indicating that small, innovative businesses are key to job creation. According to …
Dec 31,2018
Falling pump prices
A board at a gas station shows lower gasoline and diesel prices on Sunday due to plunging global oil prices. The prices at the pump have plummeted for eight weeks in a row. After hitting a recent peak above $80 a barrel in Oct. 2018, Brent oil prices…
Dec 31,2018
Plenty of persimmons
Visitors look at dried persimmons at a previous Gojongsi Dried Persimmon Festival in Hamyang County, South Gyeongsang. The county said on Sunday that the festival will run from Jan. 11 to 13 in Sangnim Park. It will be the third time the annual event…
Dec 31,2018
GDP rate seen low again in 2019
Korea’s economy is expected to grow in the mid-2 percent range in 2019 as exports, private consumption and construction-related investments are expected to take a hit, according to a poll of the heads of local think tanks Sunday. The Yonhap News A…
Dec 31,2018
Some property assessed values to increase 100%
Property taxes are expected to jump in 2019 as land prices increase and as the government changes the way it assesses property, in some cases doubling the recorded value of these assets. This figure is vitally important as it is used to calculate…
Dec 31,2018
Taxi groups boycott carpool discussions
Korea’s taxi associations snubbed planned talks with government officials, lawmakers and the head of Kakao Mobility, further escalating tensions over the introduction of carpool services. Held at a restaurant in Yeouido, western Seoul, the gatheri…
Dec 29,2018
Jin Air pilot suspended for trying to fly drunk
A Jin Air pilot’s license was suspended for 90 days Friday after he was caught drunk an hour before his scheduled flight. The Ministry of Land, Infrastructure and Transport on Friday announced administrative measures on a total of 10 reported inci…
Dec 29,2018
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