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Audit Agency Likely to Launch Probe into 4 Rivers Refurbishment Project

Audit Agency Likely to Launch Probe into 4 Rivers Refurbishment Project

SEOUL, Jun. 12 (Korea Bizwire) — South Korea’s state audit agency is expected to soon announce the launch of its probe into a controversial project ordered by a former president to refurbish the country’s four main rivers, sources said Sunday. The move comes as President Moon Jae-in on May 22 ordered a “policy inspection” on [...]

Korea’s National Debt Surpasses US$1 Trillion Mark

SEJONG, May 29 (Korea Bizwire) — South Korea’s national debt surpassed the 1,200 trillion won (US$1.08 trillion) mark in 2014 due to increased fiscal spending for the economic recovery and a rise in pension payments for government employees and service members, a government report showed Friday. Gross national debt, including appropriations for pension payments, stood at [...]