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Tue, September 25, 2018 | 16:13

Economy > Policies >

Gov't to build 4-5 new towns to stabilize property market

The government will establish four to five new satellite towns around Seoul to cool down the overheated real estate market in the capital Seoul by supplying more homes, the land minister said Friday.

Policies | 2018-09-21 15:53

Debate over rate hikes deepening

Debate over the central bank's monetary policy has been deepening as policymakers, politicians and market participants are all split over the future direction of key interest rates. Prime Minister Lee Nak-yon and ruling party lawmakers have joined forces to put pressure on the Bank of Korea to increase the benchmark short-term interest rate citing soaring home prices and widening rate gap between the U.S. and Korea.

Policies | 2018-09-18 19:25

Fitch skeptical of Moon's income-led growth

Fitch Ratings is moving to downgrade its growth outlook for South Korea due to weak consumer sentiment and worsening factors abroad, the global credit ratings agency said Monday. It added that President Moon Jae-in's income-led growth strategy has its foundation in good intentions but won't be able to address Korea's structural issues, such as low productivity.

Policies | 2018-09-17 20:37

Korea Investment CEO values 'talent' most

A Korea Investment & Securities employee who received a higher paycheck than the firm's owner became the talk of the town last month, while the CEO of the brokerage's holding company expressed his gratitude for the worker's efforts.

Policies | 2018-09-17 17:25

Justice minister pledges to expand class action lawsuit system

Justice Minister Park Sang-ki said Monday the government will try to expand the class action lawsuit system so as to enable consumers to file such suits not only in stock-related cases, but also in other areas. Park made the remark during a meeting with victims of high-profile consumer cases, such as a series of fires involving BMW cars and deaths caused by humidifier sterili...

Policies | 2018-09-17 13:16

S. Korea's job creation pace slower than 2017

South Korea's job creation has been slower than last year despite the government's push to improve worsening employment conditions, data showed Saturday.According to the January-August jobs data, the number of employed people stood at a monthly average of 26.74 million, up about 107,000 from the same period a year earlier.The data showed the growth is down from the 335,000 on...

Policies | 2018-09-15 14:29

Bank of Korea refuses to hike key rate to curb housing prices

The Bank of Korea (BOK) Friday dismissed growing pressure from the government and ruling Democratic Party of Korea (DPK) to hike key interest rates to curb soaring housing prices in Seoul and Gyeonggi Province.

Policies | 2018-09-14 17:05

Renewed fears about financial crisis looming

History repeats itself. So do financial crises. Since the Great Depression in the 1930s, many crises have taken place on a regular basis offering painful lessons to the world. Unfortunately, such lessons were short-lived. In retrospect, in every crisis, optimism prevailed over pessimism, indicating that policymakers should listen to voices of concern from those in the pessimist camp.

Policies | 2018-09-13 16:06

NTS to expand probe into offshore tax evasion

The National Tax Service (NTS) said Wednesday it will crack down further on local companies and wealthy individuals suspected of maintaining offshore accounts to avoid paying taxes at home.

Policies | 2018-09-12 19:57

Bank Of Korea pressed to curb soaring home prices

The Bank of Korea (BOK) is under mounting pressure to raise the interest rate in a bid to rein back soaring apartment prices in Seoul and the capital region.

Policies | 2018-09-09 20:46

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Inter-Korean Summit in Pyongyang