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More FTAs sought as trade challenges loom
Fifteen years after its first free trade pact with Chile, export-reliant Korea has been in a rush to clinch more deals to sell more goods in overseas markets, and its efforts have paid off. But recent events on the global trade scene are a wake-up…
June 13,2019
Finland cooperation encouraged
On his second day in Finland, President Moon Jae-in emphasized cooperation and exchange by innovative start-ups in the two countries while also mentioning the vast opportunities that will become available with denuclearization and peace on the Penins…
June 12,2019
Inheritance tax break law change to benefit SMEs
The government will ease the conditions for tax breaks in the inheritance of small-and-medium sized companies, responding to criticism that existing regulations restrict business investment and growth. The Ministry of Economy and Finance said Tues…
June 12,2019
Exports down 16.6% in first 10 days of June
Korea’s exports sharply fell 16.6 percent in the first 10 days of June mainly due to decreased shipments of semiconductors, one of the country’s key items, customs data showed Tuesday. The country’s exports stood at $10.3 billion in the June 1-10 …
June 12,2019
Tax collections down in first 4 months of year
Taxes collected in the first four months of the year are down from the same period in 2018, just as the government is on the cusp of opening the fiscal floodgates to boost economic growth. The tax take in April was good, according to data released…
June 12,2019
ESS units caught on fire due to bad management
SEJONG - A government-backed committee of experts blamed a series of fires that ravaged energy storage systems (ESS) over the past two years on faulty components and poor safety practices in the budding industry. The Ministry of Trade, Industry a…
June 12,2019
Unemployment allowance payments hit high in May
The amount of state allowance paid to those unemployed or seeking jobs soared to a new high for a third consecutive month in May, data showed Tuesday, largely because of a recent expansion of benefits that led to a sharp increase in the number of ben…
June 12,2019
Economy ‘continues to stagnate,’ KDI reports
As the state-run think tank again expressed concern over the weakening economy, Minister for Economy and Finance Hong Nam-ki stressed the need for expansionary fiscal policy to help boost growth. In a meeting with U.S. Treasury Secretary Steven…
June 11,2019
Next Gwangju at hand in Miryang
Miryang, South Gyeongsang could be the next to follow the Gwangju job model, a system in which wages are kept low in order to improve industrial competitiveness. Yet unlike Gwangju or other local governments, which have worked with conglomerates …
June 11,2019
Seoul, London agree to an FTA for after Brexit
Korea became the first country in Asia to make a post-Brexit free trade agreement (FTA) with Britain to maintain existing trade commitments with the country even if it leaves the European Union (EU). The Ministry of Trade said Monday that the two…
June 11,2019
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