search close
Reporter : Kim Bo-eun
Fri, August 19, 2022 | 02:58
Korean businesses pressure gov't to lower inheritance tax
Korea's inheritance tax rate is drawing attention as business groups have stepped up their calls for the rate to be lowered. Local business groups often cite the fact that Korea's inheritance tax rate is one of the highest among the OECD member states.
Korea urged to overhaul pension, tax systems to cope with rapidly-aging population
Korea faces substantial tasks as the country grapples with one of the fastest rates of population aging around the globe that is set to make it the world's most aged society in 2045. To reverse this trend, policymakers until recently focused mainly on encouraging more births through various monetary incentives and support for childcare. But the government has now begun acknow...
Korean insurers seek to capitalize on China's growing online market
Korean insurers are on track to capture opportunities in China's fast-growing online market for insurance products. Samsung Fire & Marine Insurance last week secured approval from Chinese authorities to set up a joint venture with local entities including China's bigtech company Tencent.
Concerns grow over Korea's pension fund
Korea's public pension fund is the world's third largest, with close to 1,000 trillion won ($763.3 billion) of assets under management, but there are concerns over the agency's ability to manage the fund. The National Pension Service (NPS) faces the daunting task of reforming its pension system, as the fund is set to be depleted in the coming decades, with Korea's population ...
Why has Apple Pay been unavailable in Korea?
Talk of Apple Pay launching in Korea in partnership with a local credit card company is drawing interest to just what has prevented the entry of the tech giant's payment service here, since its introduction in 2014. In Asia, Apple Pay is available in mainland China, Japan, Taiwan, Hong Kong, Singapore and Malaysia. Questions have been raised over why Korea, where iPhones acco...
[Exclusive] KDB accelerates drive to set up new hub in EU
The Korea Development Bank (KDB) has initiated steps to set up a branch in Germany in order to establish a new base within the European Union (EU). The state-run lender has drawn up a task force for the purpose, and dispatched personnel to Frankfurt last month, a senior KDB official said. The task force will take steps to switch the KDB's office there into a branch to conduct...
China, S. Korea can both benefit from service sector pact: experts
HONG KONG ― Renewed talks between South Korea and China to further open their service sectors could represent a “win-win situation for both economies,” analysts said. The positive outlook came after chief negotiators from the two nations agreed to resume discussions on strengthening cooperation in the opening of services and investment markets at a follow-up negotiation to th...
What's Hong Kong's future as global financial hub?
HONG KONG ― Hong Kong has been engulfed by a series of major events in recent years, which have continuously raised questions about the city's future as an international financial center. Months of intense protests took place in 2019 against a now-shelved extradition bill, which extended into 2020 as controversy continues over the Beijing-backed national security law. Hong Ko...
Economic initiatives involving Russia, China derailed under Yoon administration
HONG KONG - An apparent shift in the external economic policy of South Korea's new government has put the brakes on a number of efforts in Russia and China that were initiated under the previous administration. And while the shift also reflects developing situations such as Russia's invasion of Ukraine, the abrupt sea change that has occurred with the leadership change has co...
Specter of recession looms large over Korea
HONG KONG - Korea's export-oriented economy faces an approaching global recession, experts warned Wednesday. The dire projection comes at a time when Korea is witnessing the highest level of inflation in decades, amid weak export growth. The consumer price index for June was up 6 percent year-on-year, which is the highest seen since November 1998, at the height of the Asian f...
 1 2345678910
Copyright