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Wed, December 19, 2018 | 15:13

Economy > Policies >

Korea won't drop 'income-led growth' initiative

The government won't drop its highly ambitious “income-driven growth” initiative despite growing public discontent over the negligible economic impact after increasing the minimum wage, presidential policy chief Jang Ha-sung said, Sunday.

Policies | 2018-08-26 16:40

AMRO to assess Moon's income-led growth policy

FTC tightens regulations on chaebol's intra-group dealings

The country's antitrust regulator will expand the scope of its measures restraining family-owned conglomerates from excessively outsourcing contracts or assigning work to subsidiaries and affiliates. Fair Trade Commission (FTC) Chairman Kim Sang-jo on Sunday introduced a proposal for a revised bill enabling it to restrict both listed and unlisted companies in which chaebol ow...

Policies | 2018-08-26 16:24

Gov't renews war on real estate speculation

As Seoul's housing market is showing signs of overheating, the government is renewing its fight against property speculation, including tax audits and designation of anti-speculation zones. At a meeting Thursday on key economic issues presided over by Economy and Finance Minister Kim Dong-yeon, the government decided to additionally designate anti-speculation zones in Seoul, ...

Policies | 2018-08-24 16:48

Antitrust agency hit by worker exodus

Officials at the Fair Trade Commission (FTC) have begun an exodus as the antitrust agency grapples with a public relations crisis following a job placement scandal for its retirees. In addition to the FTC's illicit employment arrangement for these high-ranking officials, its decision to give up the exclusive right to file complaints against companies has further prompted workers to seek to move to other government agencies.

Policies | 2018-08-23 17:25

Income gap widens to worst level in decade

Income polarization between the rich and poor has widened to the worst level in a decade, with the government's income-led growth policy failing to lead to fatter paychecks for those in middle- and low-income brackets.

Policies | 2018-08-23 16:17

Korea needs to fix income-led growth strategy

While the faltering job indices are pulling down President Moon Jae-in's approval rating, the administration seems to have lost a clue where it should begin. Economists agree it should modify the income-led economic growth strategy which was basis of the steep minimum wage hike.

Policies | 2018-08-23 15:07

Gov't offers W7 tril. support for small biz owners

The government and the ruling Democratic Party of Korea (DPK) agreed to provide a more than 7 trillion won ($6.26 billion) support package to the self-employed and small business owners, by expanding tax benefits and lowering credit card fees.

Policies | 2018-08-22 17:13

Companies concerned over 'excessive' antitrust probes

A growing number of businesses are expressing concerns about the antitrust agency's decision to give up its exclusive right to file complaints about antitrust cases, which it will now share with the prosecution.

Policies | 2018-08-22 17:12

FTC gives up exclusive right to file cases

The Fair Trade Commission (FTC) has agreed to give up its exclusive rights to file complaints about antitrust cases, such as price collusion or supply restriction.

Policies | 2018-08-21 17:19

NTS audits Jin Air on suspected tax evasion

The National Tax Service (NTS) conducted a special tax audit of Jin Air, the low-cost carrier arm of Korean Air, Monday.

Policies | 2018-08-21 00:46

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