The government vowed Wednesday to ease regulations and reduce administrative procedures to promote the swift and smooth implementation of major corporate investment projects.
With anticipation for Chinese economic recovery after the easing of the disease control restrictions, countries are eager to gain interest from China. For Korea, it is not the time to be only fascinated by the performance of others.
Lee Jae-myung, the ruling Democratic Party’s (DP) presidential candidate, announced seven campaign pledges to compensate and support small businesses and self-employed merchants who suffered losses because of the Covid-19 pandemic Monday.
President Moon Jae-in stressed he will use the remainder of his term to return Korea to normal life and help the economy recover from the pandemic Monday in a budget speech at the National Assembly.
Industrial production rose 15.6 percent in May on year, Statistics Korea reported Wednesday, the fastest rate since June 2010. On month, it fell 0.7 percent.
Industrial production rose 12.4 percent on year, according to Statistics Korea Monday, the sixth consecutive increase in the figure and the fastest growth in the statistic in over two years.
According to the Bank of Korea, consumer confidence for this month has risen to its highest level in nearly three years thanks to growing expectations of an economic recovery.
According to the Ministry of Economy and Finance on Tuesday, in the first three months of this year the government collected 88.5 trillion won in taxes. That is a first quarter record and a 27.3 percent increase on year.
Exports grew at the fastest rate in two and a half years after a five-month rally in the statistic, though the rebound is under threat as Covid case numbers remain stubbornly high and the vaccine rollout is hampered by shortages.
Korea JoongAng Daily Sitemap
