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Politics List
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Personal debt relief pushed, forgiveness to be offered
The government is going all out to ease the debt burdens on lower-income households as a part of its inclusive-finance policies, especially since the challenges faced by these households are expected to increase with the recent rise in the benchmark …
Dec 22,2018
FTC head says income-led policies intact
Fair Trade Commission (FTC) Chairman Kim Sang-jo said Thursday that the government will continue to pursue its flagship income-led growth policy, suggesting that resolve had even strengthened in certain respects despite the recent shift in tone from …
Dec 22,2018
Government to begin blockchain testing in six key areas
The public sector hopes to save time and money next year with the use of blockchain in a variety of key areas, with the expectation that these pioneering efforts will pay off and enable Korea to lead in the application and development of the technolo…
Dec 22,2018
Government to reduce small business debts
Struggling small-business owners drowning in debt and late on their payments will have their obligations reduced by 40 percent in 2022, up from last year’s 29 percent. The government will also create a system whereby the remaining debt will be wr…
Dec 21,2018
BOK head admits minimum wage issues
The chief of Korea’s central bank has admitted that the steep minimum wage hike had a negative impact on the country’s job market, a noticeable shift from his previous intentionally vague stance on the policy’s impact. Gov. Lee Ju-yeol told repor…
Dec 20,2018
Foreigners benefit from income policies
Foreigners working in Korea have seen their paychecks rise and working hours fall thanks to the government’s income-led growth policies, which increased the minimum wage and reduced time on the job. These same policies have affected their employm…
Dec 20,2018
Four ‘new towns’ near Seoul are decided
The government selected four areas around Seoul to allow developments of 155,000 apartment units to stabilize the real estate market. Distance was a key factor. All four areas are 30 minutes from the nation’s capital. According to the Ministr…
Dec 20,2018
Middle-aged population is short of work and income
Middle-aged people are vital to an economy. But Statistics Korea has found that individuals aged 40 and up are not only facing job insecurity but also earning very little when they are employed: more than 60 percent of them make less than 2 million w…
Dec 19,2018
BTS adds 4 trillion won to the Korean economy
Popular boy band BTS’s annual economic value is estimated at over 4 trillion won ($3.5 billion), making it more lucrative than a medium-sized company. The group’s annual production inducement effect, which refers to the value generated in related…
Dec 19,2018
A new princess is born
A farmer attends to a field of a new hybrid Cymbidium named “Beauty Princess” that was developed by the Korean Rural Development Administration at a farm in Taean County, South Chungcheong. Farms are hoping that these new Cymbidium will boost exports…
Dec 19,2018
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