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S. Korea Eyes Post-pandemic Economic Recovery with ‘New Deal’

S. Korea Eyes Post-pandemic Economic Recovery with ‘New Deal’

SEJONG, June 1 (Korea Bizwire) — South Korea’s economic policies to deal with the post-pandemic recovery will be backed by its “Korean-version New Deal” project that will help the nation create new growth engines and jobs once the COVID-19 outbreak wanes. The project is one of the key components in the country’s economic policy for [...]

New Economic Policy Plan Heralds Paradigm Shift for S. Korea

New Economic Policy Plan Heralds Paradigm Shift for S. Korea

SEJONG, Jul. 25 (Korea Bizwire) — The economic policy plan of the new Moon Jae-in government released on Tuesday effectively proclaims a paradigm shift toward income- and consumption-led growth moving forward. It marks a full-fledged move to realize President Moon’s slogan of “income-led growth,” that calls for increasing household income and spending with the help [...]

Ban’s Advisor Gives Glimpse of His Economic Policy

Ban’s Advisor Gives Glimpse of His Economic Policy

SEOUL, Jan. 10 (Korea Bizwire) – An advisor to former U.N. Secretary-General Ban Ki-moon, a potential presidential contender, on Tuesday offered a glimpse into his economic policy that aims to upgrade South Korea’s capitalism model blamed for economic polarization.  Speaking to Yonhap News Agency, Kwak Seung-jun, an economics professor at Korea University, put forward three [...]

Korean Firms Most Concerned about Protectionism, Policy Vacuum: Survey

Korean Firms Most Concerned about Protectionism, Policy Vacuum: Survey

SEOUL, Dec. 16 (Korea Bizwire) – South Korea’s major conglomerates are most worried about growing protectionism around the globe and an economic policy vacuum following the impeachment of President Park Geun-hye, a survey showed Friday.  In the survey, conducted by Yonhap News Agency on 32 affiliates of the nation’s 30 conglomerates, 16 firms, or 45.7 [...]

Seoul’s Suggested Taxation on Cash Reserves Sees Backlash from Business Communities

Seoul’s Suggested Taxation on Cash Reserves Sees Backlash from Business Communities

SEOUL, July 19 (Korea Bizwire) – Seoul’s move to stimulate the national economy cashing in on huge amount of cash reserves held by South Korean major companies has resulted in a backlash from the local business communities. Choi Kyung-hwan, South Korea’s newly inaugurated Finance Minister, suggested on July 16 a set of measures to reinvigorate [...]