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Mon, October 15, 2018 | 19:26

Economy > Policies >

South Korea 7th largest electricity consumer in the world: data

South Korea's electricity consumption last year ranked seventh in the world and showed one of the fastest paces of increase, data from a foreign consulting firm showed Tuesday. South Korea consumed 534 terawatt hours (TWh) last year, up 2.3 percent from the previous year, according to the Europe-based Enerdata. The country's ranking in terms of the volume of power consumption...

Policies | 2018-08-07 10:24

Finance minister faces dilemma over Samsung

Economy and Finance Minister Kim Dong-yeon is in a dilemma over his scheduled visit to Samsung Electronics today. Kim's planned visit to the nation's largest conglomerate may illustrate his sense of urgency about falling corporate investment but this is seemingly not shared by Cheong Wa Dae and the ruling party.

Policies | 2018-08-05 16:21

Taxes blamed for Korea's bland beers

The government's decision not to revise the alcohol tax for the time being is disappointing domestic breweries, both large and small. They say the absurd tax is depriving them of chances for fair competition against imported beers and even discouraging them from developing better products.

Policies | 2018-08-05 16:15

Soh to head World Bank Group Korea Office

Soh Hoon-sahib has been appointed as the new special representative to the World Bank Group (WBG) in Korea.

Policies | 2018-08-03 16:25

FTC hit for arranging jobs for retirees

The Fair Trade Commission (FTC) is coming under fire for allegedly arranging lucrative jobs for its retirees at at Samsung, Hyundai Motor and other big companies.

Policies | 2018-07-31 17:05

Moon shifts to 'inclusive growth' strategy

President Moon Jae-in has been beleaguered by economic policies as they have failed to achieve the intended outcome of creating more jobs and supporting those in low-income brackets.

Policies | 2018-07-31 15:33

Pension fund to wield bigger influence on corporate management

The National Pension Service (NPS) will be allowed to participate in the management of firms in which it has invested to ensure that the companies do not damage corporate or shareholder value. The measure is aimed at enhancing transparency in corporate management while improving investment returns for the pension funds, but businesses are showing concerns it will hamper their...

Policies | 2018-07-30 17:19

High-priced real estate faces heavier taxes

People owning multiple homes or high-priced real estate will face an increase in taxes as part of a tax code revision unveiled by the Ministry of Strategy and Finance, Monday. Also, those who avoid taxes by transferring income or wealth overseas will be subject to heavy penalties.

Policies | 2018-07-30 16:32

Gov't renews war on real estate speculation

Gov't seeks to revise tax code to bolster fairness, innovative growth, job creation

South Korea's government will revise its tax code in a way that boosts taxation fairness, innovative growth and job creation, while expanding tax benefits to the underprivileged, the finance ministry said Monday.

Policies | 2018-07-30 14:12

Soaring eating-out costs weigh on households

Kang, an office worker in Gangnam, southern Seoul, has been refraining from eating out for lunch. He instead goes to the company cafeteria.

Policies | 2018-07-29 16:40

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Hurricane Michael