Almost 40 percent of Koreans over 65 living below median income line, worst among OECD nations

Four out of 10 older Koreans are living on less than half the country's median income, the highest percentage of any OECD member state, as the rapid growth of Korea's aging society is wearing down the social safety net for people after retirement.

2025-12-26

Cabinet approves bill to raise tax on corporate income to 25%

The Cabinet on Tuesday approved a bill raising tax rates on corporate income by 1 percentage point across all taxable income brackets starting next year, as the government seeks an expansionary fiscal policy.

2025-12-16

Major financial firms expected to see decrease in interest income for 1st time in 5 years on tighter loan curbs

Four major financial firms will likely see their interest income decrease for the first time since 2020 this year due to tighter lending rules aimed at curbing surging housing prices, data showed Sunday.

2025-12-07

Gov't doubles budget for rural basic income pilot program following local backlash

The budget for President Lee Jae Myung’s rural basic income initiative — a major campaign pledge — has been doubled at the pilot stage, following protests from local governments that were excluded from the initial trial selection.

2025-11-19

Korea posts record September current account surplus on strong exports

Korea posted a record current account surplus for any September, buoyed by solid exports and increased dividend income, the central bank said Thursday.

2025-11-06

Tax revenue rises 34.3 trillion won through September on improved corporate earnings

Korea's tax revenue increased by 34.3 trillion won ($23.9 billion) from a year earlier during the first nine months of this year, on improved corporate earnings and rising income tax, data showed Friday.

2025-10-31

3 in 10 stuck in bottom income bracket as mobility falls

Three out of 10 Koreans have remained in the country’s lowest income bracket for seven consecutive years, government data showed, underscoring the persistent difficulties faced by low-wage earners whose salaries and income have seen little growth.

2025-10-27

Tax data suggests wealthier individuals manage assets more through interest and dividends than deposits

The top 2 percent of earners in terms of financial income made an average of more than 2 billion won ($1.39 million) in interest and dividends in 2023.

2025-10-26

Gov't basic income program for rural towns draws fire over fairness, financial concerns

The government’s plan to introduce a basic income program for rural communities is drawing controversy, as critics question the fairness of distributing equal payments to all residents while many local governments face financial strain.

2025-10-21

More Korean YouTubers making serious money, says tax service

More than 4,000 one-person media creators in Korea earned over 100 million won ($70,400) in 2023, marking a sharp rise that highlights the growing economic power of YouTubers and other digital content creators.

2025-10-15

korea joongAng daily