SEOUL, July 4 (Korea Bizwire) — South Korea’s economic policy report unveiled Tuesday focused on laying the groundwork for the long-term and sustainable growth of Asia’s fourth-largest economy amid signs of a recovery in its exports and employment, along with a slowdown in inflation. In its latest report on the economic outlook for 2023, the [...]
SEOUL, June 16 (Korea Bizwire) — South Korea said Thursday it will ease regulations and lower corporate taxes in the first major economic policy step by the government of President Yoon Suk-yeol, as it aims to support private sector-led economic growth amid heightened economic uncertainty. Facing economic headwinds, the government lowered its 2022 economic growth [...]
SEOUL, Dec. 17 (Korea Bizwire) — South Korea’s 2021 economic policy plan underscores its commitment to boosting domestic demand and propping up the sluggish job market as the country sets its sights on overcoming economic slumps caused by the new coronavirus outbreak. The finance ministry unveiled two-pronged approaches in managing the 2021 economic policy plan, [...]
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 [...]
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 [...]
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 [...]
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, 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 [...]