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Warm welcome
Prime Minister Lee Nak-yon, second from right, poses with Georgia Gov. Brian Kemp, third from left, and his delegates during a meeting Monday at the government complex in central Seoul. Kemp is visiting Korea on his first overseas business trip since…
June 25,2019
KIET reduces its estimate for 2019 growth to 2.4%
A state-run think tank cut this year’s economic growth forecast to 2.4 percent, joining a growing list of organizations revising the figure over concerns of declining exports and global trade uncertainties. The Korea Institute for Industrial Econ…
June 25,2019
NTS forms group focused on digital tax administration
Korea’s tax agency said Monday it launched an international forum with Latin American and Caribbean countries on digital tax administration. The National Tax Service (NTS) said 17 high ranking tax officials from 12 countries in the region, as well…
June 25,2019
5-year nuclear plant maintenance deal in UAE disappoints
SEJONG - Korea Electric Power Corporation’s (Kepco) nuclear power subsidiary signed an agreement to provide maintenance for the United Arab Emirates’ (UAE) Barakah nuclear plant for five years, undercutting expectations of becoming its sole maintenan…
June 25,2019
New Blue House policy czar denies inflexibility
Kim Sang-jo, new policy chief at the Blue House, said he will put a special focus on creating jobs and improving incomes during a meeting with reporters Friday in Sejong. “I will be maintaining the main policy direction of the [Moon Jae-in adminis…
June 24,2019
As economic worries grow, gold glitters more
With concerns about the economy on the rise, demand for gold has increased. Gold futures, which have been traded on the Korea Exchange since March 2014, recently hit an all-time high while transaction volume continues to grow. Gold is hot. …
June 24,2019
Maternity benefits to be offered to 2 new groups
Two categories of women workers will be eligible for maternity pay for the first time. The pay will be 500,000 won ($431.34) per month for three months. Until now, only women workers subscribing to employment insurance were able to receive mat…
June 24,2019
Single-person households grow as society ages
The number of single-person households in Korea is forecast to grow in coming years, even as the population will start to decrease in a decade. According to a report from KB Financial Group’s business research institute on Sunday, the number of s…
June 24,2019
Taxes cut in bid to lure firms back to Gunsan
The North Jeolla provincial government announced Thursday that it has started providing an 85 percent discount on real estate acquisition tax for auto or shipbuilding industry manufacturers settling in Gunsan. The move came as the provincial gover…
June 22,2019
Kepco’s discount woes
Korea Electric Power Corp. CEO Kim Jong-kap, right, and other board members of the power company hold a meeting on whether to accept the government’s power bill proposal that would temporarily provide discounts to consumers during summer at the compa…
June 22,2019
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