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Tue, November 13, 2018 | 09:36

Economy > Policies >

Moody's: South Korean economy to expand 2.3% in 2019

In its global macroeconomic outlook for the G-20 countries for 2019-20, Moody's cited a set of negative factors affecting South Korea's growth, including uncertainties surrounding U.S. trade policy and worsening external demand.

Policies | 2018-11-10 10:45

President stresses inclusive growth

President Moon Jae-in on Friday asked conglomerates to cooperate to enable smaller businesses to also prosper, at a meeting to discuss achieving a “fair economy.” “A fair economy means players are guaranteed fair competition and fairly share the fruit of growth,” Moon said at the meeting held at COEX in southern Seoul, Friday.

Policies | 2018-11-09 17:39

Moon names new economic policy chiefs

President Moon Jae-in has fired his top economic policymakers as widening criticism of his signature “income-led” growth policy has put the agenda in jeopardy.

Policies | 2018-11-09 17:31

Veteran bureaucrat tapped as top economic policymaker

President Moon Jae-in's new finance minister nominee, Hong Nam-ki, is a veteran bureaucrat with a wide range of front-line expertise, especially in budget and finance planning. Hong, 58, started his career as a bureaucrat at the finance ministry in 1984 and climbed the ranks with appointments to various key posts in the ministry.

Policies | 2018-11-09 14:25

Moon replaces finance minister, chief economic adviser

Moon replaces finance minister, chief economic adviser

President Moon Jae-in sacked the finance minister and his chief policy adviser Friday after the two top economic policymakers openly displayed a serious rift over how to handle the slumping economy. Moon named Hong Nam-ki, an economic technocrat who is currently serving as chief of the Office for Government Policy Coordination under the Prime Minister's Office, to replace Kim...

Policies | 2018-11-09 14:10

Veteran bureaucrat tapped as top economic policymaker

Moon renews commitment to fair economy

President Moon Jae-in renewed his commitment to a "fair economy" Friday, saying it's time for South Korea to put a focus on inclusive growth rather than speedier growth that only enriches conglomerates. Moon made the remark during a fair economy strategy meeting involving six related government ministries agencies, stressing that South Korea has grown into one of the biggest ...

Policies | 2018-11-09 10:51

Moon gov't rapped for 'socialistic' profit sharing

The Moon Jae-in administration and the ruling Democratic Party of Korea have come under mounting criticism from the business circle for their unprecedented attempt to force companies to share profits with subcontractors, according to company officials Thursday.

Policies | 2018-11-08 15:38

BOK expected to raise rate despite worsening data

Voices in financial circles are increasingly calling for freezing the nation's key interest rate until the end of the year, as business indices have deteriorated for six months in a row while the benchmark KOSPI plunged below the 2,000-point level last month.

Policies | 2018-11-07 16:29

'Peace of Korean Peninsula will lead prosperity of Asia'

Chairman Seung Myung-ho of The Korea Times and Hankook Ilbo said at the KOR-ASIA Forum 2018 on Wednesday that the Korean Peninsula would become “the hub of Asia” when peace is achieved, after the current historical inflection point where there are conflicts on its path to denuclearization and peace. Jointly hosted by The Korea Times and Hankook Ilbo at Seoul Dragon City Hotel...

Policies | 2018-11-07 13:25

Asian nations vow to support peace in Korea

South Korea gets US exemption on Iranian crude oil imports

South Korea has received a waiver on the renewed U.S. embargo on imports of Iranian oil following months of negotiations between the allies, foreign media reported Monday. The United States reimposed the oil sanctions against Tehran at the start of the day (Eastern Standard Time), a follow-up to President Donald Trump's decision in May to ditch a 2015 nuclear deal signed by h...

Policies | 2018-11-05 17:06

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Choking on worsening air pollution