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Reporter : Yoon Ja-young
Sat, January 28, 2023 | 21:36
Finance minister signals major policy shift to revive sagging job market
The finance minister said Sunday that the government will consider modifying economic policies if necessary to cope with deteriorating job market figures.
Job crisis may delay BOK's rate hike
The central bank is unlikely to hike its key interest rate in the coming months due to a worsening job crisis. The Bank of Korea (BOK) had signaled that it would raise the key rate either in August or September, with the interest rate gap between Korea and the United States widening.
Students honored for promoting Korean culture abroad
The World Korean Foundation announced Friday that it has designated student ambassadors to promote Korean culture abroad.
Finance minister needs more authority
Economy and Finance Minister Kim Dong-yeon is known as a man who acts according to his convictions. He doesn't try to curry favor by deserting policies he thinks are right.
Gov't fails to curb Seoul apartment prices
Despite a series of anti-speculation measures, the government seems to have failed to curb apartment prices in key areas of Seoul. Analysts expect further increases in the latter half of the year as new apartments in Seoul have become “rare items.”
Unauthorized inter-Korean coal trade confirmed
South Korea received 6.6 billion won ($5.86 million) worth of North Korean coal and pig iron, of which the country of origin was fabricated, the nation's customs agency said, Friday. Cheong Wa Dae said there is no conflict between South Korea and the U.S. regarding the issue as the two countries are coordinating closely with mutual trust.
Korea to nurture 'platform economy'
The government will expand investment into the “platform economy,” as a part of efforts to attain innovative growth through bold regulatory reforms, the country's finance minister said Thursday.
Elizabeth Bae to lead BCW Korea
BCW announced Wednesday that it appointed Elizabeth Bae as its new leader for its Korean operation. It also named Kim Bum-sung as its managing director for corporate practice.
Block chain special zone considered in Jeju
The government will consider designating Jeju Island as a special zone to develop the blockchain and electric vehicle industries. If designated as such, it is expected to draw 63.2 billion won in investment over the next five years and create 1,800 jobs. Daegu will see deregulation to nurture its brain science research as well as getting government support to establish an R&D center. These are part of the government plans to spur innovative growth efforts by local governments.
Economics of extreme heat
The weather is one of the key factors that determine human behavior. While there are beneficiaries and losers when the mercury shoots up, economists generally agree that the extreme heat works negatively on the economy. Hongcheon in Gangwon Province recently saw the temperature rise to 41 degrees Celsius, the highest since 1904 when the country started compiling data. As the ...