SEOUL, March 2 (Korea Bizwire) – People with monthly salaries exceeding 4.49 million won (US$4,155) will pay more for state health insurance starting in July, the government said Friday. According to the Ministry of Health and Welfare, a total of 2.44 million people, 13.6 percent of company-subscribed state insurance payers, will pay a maximum of [...]
SEOUL, Feb. 26 (Korea Bizwire) — South Korea posted the second lowest economic growth during the fourth quarter of last year among major advanced and emerging economies, data showed Sunday. Asia’s fourth-largest economy shrank 0.2 percent on-quarter in the October-December period to mark the first negative growth in nine years. It was the second-lowest quarter-to-quarter [...]
SEOUL, Feb. 26 (Korea Bizwire) — The income of households led by people in their 40s fell sharply in the fourth quarter of last year, government data showed Saturday, as sluggish economic growth hurt the overall job market. According to Statistics Korea, the average earned income of such households stood at little over 3.4 million [...]
SEJONG, Feb. 22 (Korea Bizwire) – South Korea’s chief economic policymaker said Thursday that the government is not ruling out the use of extra budgetary funds to help create more quality jobs for young people. “In order to finance job creation, the government does not rule out the formation of supplementary budget,” Finance Minister Kim Dong-yeon said in a meeting with reporters. “All policy tools will be mobilized [...]
SEJONG, Feb. 21 (Korea Bizwire) – The jobless rate in Geoje, located in the southern part of the country, reached the highest level among South Korean cities, as local shipyards implemented massive job cuts amid an industry-wide slump, data showed Wednesday. According to the data compiled by Statistics Korea, the unemployment rate in the city, home to the country’s major shipyards, including Daewoo Shipbuilding & Marine Engineering Co. (DSME) [...]
SEOUL, Feb. 14 (Korea Bizwire) – Blockchain technology-based money transfer services were found to be too slow and hard to restore where there is a glitch, according to tests conducted by the Bank of Korea. According to the BOK, speed and restoration issues were discovered in blockchain money transfers between banks, the central bank of South [...]
SEJONG, Feb. 12 (Korea Bizwire) – Businessmen from South Korea and Uzbekistan held a meeting in Tashkent on Monday to push for greater cooperation between the two nations, Seoul’s finance ministry said. The meeting, also attended by government officials from the both sides, including South Korean Finance Minister Kim Dong-yeon, was arranged to hear the [...]
SEOUL, Feb. 9 (Korea Bizwire) – South Korea aims to create some 35,000 new jobs in the health care sector by 2022 as part of its efforts to become a global biotech and medical industry hub, the government said Friday. Under the plan announced by the Ministry of Trade, Industry and Energy, the government aims [...]
SEOUL, Feb. 8 (Korea Bizwire) – South Korean President Moon Jae-in and Polish President Andrzej Duda agreed Thursday to enhance the countries’ bilateral cooperation in the energy and infrastructure sectors. In their bilateral summit, held at Seoul’s presidential office Cheong Wa Dae, the heads of state noted the countries’ relationship and cooperation have steadily improved [...]
SEOUL, Feb. 8 (Korea Bizwire) – International travel expenses among South Koreans increased 15-fold last month amid reports that a record number of cryptocurrency investors travelled abroad to buy cryptocurrencies on the cheap. According to lawmaker Lee Hyun-jae, who is also a member of the Strategy & Finance Committee, international travel expenses amounted to nearly 42 [...]