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[ANALYSIS] Gov’t plans to tax, spend to save jobs
The Moon Jae-in administration’s ambitious income-led growth policy is facing accusations that it is paradoxically contributing to job losses and cutting the income of the poorest Koreans. The government’s solution to the dire employment number…
Sept 03,2018
Gov’t spent 70% of 2018 budget in first 7 months
Korea has spent about 70 percent of its state budget earmarked for 2018 in the first seven months as it moves to create more jobs, the Finance Ministry said Friday. Some 195 trillion won ($175 billion) was spent through July, 11.4 trillion won, or…
Sept 01,2018
Korea’s manufacturing days coming to a close
Mr. Kim is closing down his textile factory in the South Chungcheong city of Cheonan. He is one of thousands in the country, and the number is picking up pace. “The business went downhill from two years ago,” Kim said. “And now with the hike in th…
Sept 01,2018
U.S. lifts steel quotas on Korea
U.S. President Donald Trump signed a proclamation relieving Korea of steel export quotas to the United States only five months after their implementation. Citing a statement by the U.S. Department of Commerce, Trump signed proclamations relieving …
Aug 31,2018
As Chuseok nears, gov’t tries to cut food prices
As the prices of Korean agricultural products show no sign of retreating, the government is scrambling to help the public deal with increased expenses for the upcoming Chuseok harvest holiday. According to data from the Korea Agro-Fisheries and Fo…
Aug 31,2018
Heating up of real estate worries government
The Blue House, government and ruling Democratic Party have agreed on the need to cool off the real estate market, which recently became stimulated by Seoul Mayor Park Won-soon’s announcement of major development projects in Yeouido, western Seoul, a…
Aug 31,2018
Economic czars smile for cameras
The two economic titans of the Moon Jae-in government - Finance Minister Kim Dong-yeon and Blue House policy director Jang Ha-sung - held a closed-door meeting on Wednesday to find common ground on the policies that have been driving them apart. “…
Aug 30,2018
Blue House to change how worker stats are counted
The presidential committee on job creation has proposed changing the way statistics are measured to increase the number of people who are counted as regular workers. If the change is made, it will be the biggest shake up in Korean statistics sinc…
Aug 30,2018
Small business owners protest minimum wage
Thousands of self-employed and small business owners took to the streets Thursday to protest the government’s minimum wage policy, shrugging off ameliorative measures announced by the government. Small business owners and their representatives, in…
Aug 30,2018
Consumer sentiment collapses
Koreans’ consumer sentiment hit a 17-month low in August. The public’s views on economic prospects took a negative turn amid a tepid job market, unstable housing prices and other downbeat economic indicators. The latest results, announced by K…
Aug 29,2018
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