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Tue, January 21, 2020 | 08:50

Gov't considers levying income taxes on cryptocurrency

Gov't considers levying income taxes on cryptocurrency

Expectation is growing that the government will tax around 20 percent of gains derived from cryptocurrency trading, a move seeking to recognize one-off, windfall occurrences derived from the digital currency, sources said Monday.

Lee Kyung-min | 2020-01-20 17:45

For warmer Seollal

For warmer Seollal

Financial Services Commission (FSC) Chairman Eun Sung-soo, left, and Korea Inclusive Finance Agency President Lee Gye-mun, second from left, distribute food to a senior citizen at the Senior Welfare Center of Seoul, Monday. The FSC also made a donation to the center on the occasion of Seollal, or Lunar New Year holiday. / Courtesy of FSC

Park Jae-hyuk | 2020-01-20 16:31

South Korea mulls 20% tax on cryptocurrencies

South Korea mulls 20% tax on cryptocurrencies

The Ministry of Economy and Finance has recently ordered its office of income tax to review a taxation plan for cryptocurrencies, according to officials. Previously, the ministry's office of property tax had reviewed the plan. The move raised speculation that the government may categorize gains from cryptocurrency trading as other income, not capital gains. A government offic...

2020-01-20 10:51

[INTERVIEW] Korean economy expected to bottom out in 1st half

[INTERVIEW] Korean economy expected to bottom out in 1st half

The Korean economy will show clear signs of rebound in the first half, in what many hope to be the beginning of a much-awaited recovery after an undoubtedly tough year of 2019, the country's top economic policymaker said Monday.

Lee Kyung-min | 2020-01-19 16:45

[INTERVIEW] 'South Korea doesn't push socialist economic policies'

[INTERVIEW] 'South Korea doesn't push socialist economic policies'

[INTERVIEW] 'South Korea doesn't push socialist economic policies'

With the Moon Jae-in administration rolling out a series of measures focusing on redistribution over growth, there has been growing concern here and abroad that “socialism” is permeating into the capitalist South Korea. Many foreigners, in particular, have criticized Seoul government for tipping the balance of economic policies toward socialism, which they claim violate free ...

Kim Jae-kyoung | 2020-01-19 16:25

[INTERVIEW] Korean economy expected to bottom out in 1st half

BOK freezes key interest rate on signals for economic rebound

BOK freezes key interest rate on signals for economic rebound

The Bank of Korea (BOK) froze its key interest rate at 1.25 percent during the first rate-setting meeting of 2020, Friday, in a widely-expected decision in line with recent signals for a slow yet steady rebound in the local economy. All eyes were on whether BOK Governor Lee Ju-yeol would hint at the possibility of the central bank cutting the rate in the first half of the yea...

Lee Min-hyung | 2020-01-17 16:36

[FULL TEXT] Bank of Korea's statement on monetary policy decision

[FULL TEXT] Bank of Korea's statement on monetary policy decision

The following is the full text of the Bank of Korea's statement on its monetary policy decision. The central bank's monetary policy board decided Friday to keep the base rate steady at a record low of 1.25 percent.

2020-01-17 11:12

Bank of Korea keeps policy rate steady at 1.25%

Bank of Korea keeps policy rate steady at 1.25%

Bank of Korea keeps policy rate steady at 1.25%

The Bank of Korea (BOK) on Friday decided to keep its policy rate frozen at a record low amid signs of improving economic conditions. As was expected, the BOK's monetary policy board voted to keep the rate frozen at 1.25 percent in this year's first rate-setting meeting. In a survey conducted by Yonhap Infomax, the financial news arm of Yonhap News Agency, all 19 experts poll...

2020-01-17 10:56

[FULL TEXT] Bank of Korea's statement on monetary policy decision

Salaried foreign workers should file year-end tax settlement

Salaried foreign workers should file year-end tax settlement

Salaried foreign workers should file a year-end tax settlement before they receive February's salary, the tax agency said Thursday.

Lee Kyung-min | 2020-01-16 18:34

[Reporter's notebook] Regulator slammed for belated measures for Lime fiasco

[Reporter's notebook] Regulator slammed for belated measures for Lime fiasco

The Financial Supervisory Serviced (FSS) has come under fire for mishandling the irregular practices of Lime Asset Management, which is incurring snowballing losses for financial firms as well as individual investors.

Kim Bo-eun | 2020-01-16 17:47

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