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FTC chief allays chaebol worries
The chairman of Korea’s antitrust agency, who has long been a critic of the country’s powerful conglomerates, met with representatives from the four largest companies on Friday to discuss his vision for big-business reform. Fair Trade Commission C…
June 24,2017
Minister takes aim at speculators
The inauguration ceremonies of government ministers are typically staid affairs, formal gatherings where the new designates speak in broad strokes about their general vision. So it was unusual on Friday when Kim Hyun-mee, the newly sworn-in land m…
June 24,2017
Korea to waive highway tolls during holidays
Motorists can use the highways for free during the holidays, beginning with this year’s Chuseok, or Korean harvest festival. The government’s policy committee said it also will give more financial incentives to travelers in eco-friendly vehicles. …
June 24,2017
Gov’t will adopt ‘blind’ hiring
President Moon Jae-in on Thursday ordered the government to adopt a so-called blind hiring system for government and public institution employees starting in the second half of this year. In a blind hiring system, the academic backgrounds, age of …
June 23,2017
23.4% of workers earn under 1.5 million won
A quarter of Korean employees earned less than 1.5 million won ($1,313) a month in 2015, recent government data showed. Monthly salaries for the average Korean employee reached 3.29 million won and median salaries amounted to 2.41 million won, Sta…
June 23,2017
New gov’t tries to push phone bills down, increase WiFi
As early as September, some mobile phone users may see 25 percent cuts in their monthly service charges, and more free WiFi will be available in public, the government said Thursday. An advisory committee in charge of mapping out President Moon Ja…
June 23,2017
Plan would hike energy prices
Electricity bills will rise as much as 21 percent if President Moon Jae-in pushes ahead with his plans to move toward a nuclear energy-free future, a recent study by the state-run think tank said. The Korea Energy Economics Institute said Tuesday …
June 22,2017
National Assembly confirms land minister
The National Assembly’s transportation committee on Wednesday approved the nomination of Kim Hyun-mee, President Moon Jae-in’s nominee for land and transport minister. She is expected to be sworn in today. The committee approved Kim over the oppos…
June 22,2017
Moon’s economic team assures consistent policy
The Moon Jae-in administration’s top three economic policy officials promised in their first meeting together Wednesday to coordinate their economic policies and maintain communication between their organizations. The meeting at the central govern…
June 22,2017
Gov’t pins hopes on new technology committee
To promote the development of so-called fourth industrial revolution technologies, the government is creating a committee headed by a person from the private sector - a contrast to other presidential committees that President Moon Jae-in is personall…
June 21,2017
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