Korea’s top finance and trade officials are expected to visit the United States next week for high-level discussions on tariffs and trade policy.
The government unveiled a package of support measures Wednesday for domestic industries most impacted by the recent U.S. tariff impositions that include more than 2 trillion won ($1.5 billion) in policy financing, the finance ministry said.
Acting President Choi Sang-mok promised that the government would work to “maintain stability” in his first public address following Prime Minister Han Duck-soo's impeachment on Friday.
Acting President Han Duck-soo said Tuesday the government plans to begin implementing next year's budget on Jan. 1 to bring stability to the economy amid turmoil at home and abroad.
U.S. Treasury Secretary Janet Yellen has reaffirmed the strong alliance between Korea and the United States during talks with her Korean counterpart, the Ministry of Economy and Finance said Wednesday.
The panel of experts will discuss external policy measures to cope with economic situations around the world that may affect Korea.
The Ministry of Economy and Finance announced that next year's fiscal policy will focus re-investing in R&D, resolving the falling birthrate and bolstering medical services.
The government will reduce corporate taxes for companies that work to boost shareholder returns in a bid to resolve the "Korea discount" issue.
Korea's economy is rebounding, led by strong export growth, but some sectors lag due to weak consumption and investment, according to the Finance Ministry on Friday.
Korean Finance Minister Choi Sang-mok and his Vietnamese counterpart, Ho Duc Phoc, discussed ways to strengthen bilateral economic cooperation and improve the business environment for Korean firms operating in the Southeast Asian country.
Korea JoongAng Daily Sitemap
