SEJONG, Apr. 16 (Korea Bizwire) — South Korea has pledged US$300 million to the World Bank for its program to build critical infrastructure in developing countries and deal with their environmental and energy issues, the government said Thursday. The finance ministry said the memorandum of understanding (MOU) reached in Washington on Wednesday calls for the [...]
“I urge both the ruling and opposition parties to find a middle ground on what kind of social welfare the country needs before coming up with ways to pay for such expenditures. There are considerable differences between political parties as well as ordinary citizens on what the level of welfare coverage should be.” “Experience has [...]
“South Korea is the only major global trading nation to have FTAs with the United States, the European Union and China. This uniqueness makes Korea an ideal base for global enterprises seeking market access to the three largest economies in the world. With Alibaba’s ongoing strategy to expand its presence in the global market, it [...]
SEOUL, Jan. 8 (Korea Bizwire) — Deputy Prime Minister and Minister of Strategy and Finance Choi Kyung-hwan is looking at an Eiffel Tower made by a 3D printer while he visits Rokit, a 3D printer manufacturer in Gasan-dong, western Seoul, on January 7. Deputy Prime Minister Choi said in a conference with new industry business leaders, “The [...]
SEOUL, Dec. 29 (Korea Bizwire) – Korea’s 2014 tax revenue will likely miss its target by 11.7 trillion won (US$ 10.6 billion) to 12.7 trillion won (US$ 11.5 billion), according to a statement from the National Assembly Budget Office (NABO) on December 28. Korea’s tax revenue shortfall has been on the rise from 2.8 trillion won (US$ [...]