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Sun, January 20, 2019 | 01:38

Economy > Policies >

President Moon declares move toward 'hydrogen economy'

President Moon Jae-in officialized a move to build a so-called hydrogen economy Thursday, one day after the government announced an ambitious plan to increase the number of hydrogen-powered vehicles in the country to 80,000 in less than four years."Our government's determination to (build) a hydrogen economy is firm," the president said during a visit with leaders from hydrog...

Policies | 2019-01-17 15:37

South Korea seeks to produce 6.2 million hydrogen cars by 2040

Non-life insurers urged to pioneer new markets

General Insurance Association of Korea Chairman Kim Yong-duk said non-life insurers should now look for new markets to overcome their deteriorating business environment.

Policies | 2019-01-16 17:00

Korea to speed up FTA with Britain on looming no-deal Brexit

South Korea's trade ministry said Wednesday it will speed up efforts to clinch a free-trade agreement (FTA) with Britain amid rising woes over the country's move toward exiting the European Union without an agreement on matters such as customs.

Policies | 2019-01-16 09:32

May's Brexit deal rejected

Middle-age people suffer sharp drop in employment rate

South Koreans in their forties and fifties were hit hardest by the tougher job market last year stemming from protracted corporate restructuring and an economic downturn, government data showed Sunday. The country's employment rate -- the portion of hired people to the working-age population -- reached 60.7 percent in 2018, down 0.1 percentage point from a year earlier, accor...

Policies | 2019-01-13 10:19

South Korea opposes EU safeguard duties on steel imports

The South Korean government has voiced opposition against the European Union's safeguard duties on imported steel and asked for compensation, Seoul's trade ministry said Saturday. The Ministry of Trade, Industry and Energy said its officials held a bilateral meeting with counterparts from the EU in Brussels on Friday (local time) to object to the 25 percent tariffs on 23 cate...

Policies | 2019-01-12 18:56

Shinhan opens new branch in Seoul City Hall

Shinhan Bank has opened a new branch in Seoul City Hall, the bank said Wednesday.

Policies | 2019-01-09 16:24

Korea's jobless rate rises in December

South Korea's jobless rate rose slightly in December from a year earlier, government data showed Wednesday, as the finance minister vowed to create 150,000 jobs this year. The unemployment rate stood at 3.4 percent last month, up 0.1 percentage point from a year earlier, according to the data compiled by Statistics Korea.

Policies | 2019-01-09 13:11

Half of S. Koreans say tax policy favors rich people

Nearly half of South Koreans believe that the country's tax policy favors the rich, a poll showed Tuesday.The poll - commissioned by the Economic Reform Research Institute - found that 48.9 percent of respondents said they think the wealthy are at an advantage in regards to tax policy. The same findings showed just 31.8 percent believe that the country's tax policy favors ord...

Policies | 2019-01-08 15:41

Let 'invisible hand' rule markets

The English Premier League is now the most successful soccer league in the world. As the favorite among soccer fans, it attracts a lot of world-class players and massive investments from abroad. There are several reasons behind its overwhelming success, such as the market being open to the outside, unique marketing efforts and free competition. However, there is, although oft...

Policies | 2019-01-07 16:24

Card firms focus on risk management

The nation's card companies are carrying out voluntary retirement programs and focusing on risk management, industry sources say Wednesday. This comes as the government has enforced them to lower their transactions fees for small businesses and the self-employed. The fee cut is scheduled to take effect this month. The plan is expected to cost them at least 800 billion won ($7...

Policies | 2019-01-02 16:37

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