Fuel taxes are being cut 20 percent until the end of April. This is a bigger break than the last time international oil prices spiked -- in 2018 and 2019 -- when they were cut 15 percent. In fact, it is the sharpest cut in fuel taxes ever.
Steelmaker Posco reported Monday its net profit for the third quarter at 2.63 trillion won ($2.2 billion), up more than 400 percent from a year earlier.
Kakao Pay is finally coming to market after a rocky road to listing, pricing at the top of its range for an 11.7-trillion-won ($9.9 billion) market cap when it starts trading on Nov. 3. Retail orders will be taken through Thursday, with each ...
Finance Minister Hong Nam-ki said the government is looking into lowering fuel taxes to help the public after a surge in international crude prices. Between November 2018 and May 2019, the government temporarily cut fuel taxes 15 percent.
A notice posted in front of a real estate agency in Seoul on Tuesday criticizes the government’s decision to lower commissions. Starting Tuesday, the new lowered rates will be applied. Commissions have spiked recently as housing price have soared.
Shoppers pick out fruit at a grocery store in Seoul on Tuesday. Recently, there have been growing concerns about inflation as consumer prices have been rising rapidly. Egg prices have surged 70 percent.
An unprecedented synchronized spike in energy prices is causing an inflationary scare around the world ahead of the winter peak season. The price of the West Texas Intermediate, the American standard crude, leapt to near $78 per...
Consumer prices in September grew 2.5 percent. With international fuel prices rising, consumer prices this year are expected to rise above an earlier government forecast of 1.8 percent for 2021.
The entrance to the gated apartment complex Paarc in Hannam, central Seoul, on Monday. A 268.67 square-meter (2,892 square-foot) Paarc apartment was sold for 10.8 billion won ($9 million) on Sept. 9, a new record for the high-end complex.
Utility prices will be kept in check this year in order to help contain inflation, Vice Finance Minister Lee Eog-weon said.