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Economy Minister Willing to Tackle “Sharing Economy” Head On

Economy Minister Willing to Tackle “Sharing Economy” Head On

SEOUL, Oct. 26 (Korea Bizwire) — Kim Dong-yeon, the Minister of Economy and Finance and Deputy Prime Minister, said yesterday that he was committed to implementing new transportation services, including carpooling. The minister also said that if a sharing economic model was the direction of the future, then he would be fully willing to throw [...]

Extra Budget on Table For Youth Job Creation: Finance Minister

Extra Budget on Table For Youth Job Creation: Finance Minister

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 [...]

S. Korea’s Finance Minister to Attend G20 Meeting

S. Korea’s Finance Minister to Attend G20 Meeting

SEJONG, Feb. 25 (Korea Bizwire) – South Korea’s finance minister will attend the Group of 20 meeting for top economic policymakers in China later this week to discuss a variety of global issues such as increased market volatility and toughened economic conditions, the finance ministry said Thursday. The Ministry of Strategy and Finance said Finance [...]

New Economic Team Facing Bumpy Ride Amid Sagging Growth

New Economic Team Facing Bumpy Ride Amid Sagging Growth

SEOUL/SEJONG, Feb. 11 (Korea Bizwire) – South Korea’s new economic policy team led by Finance Minister Yoo Il-ho is facing tough challenges as domestic and overseas developments threaten to drag down growth down the road, local observers said Thursday. The warning comes as slowdowns in China and emerging markets, contracting exports and weakening domestic consumption [...]

Finance Minister Vows to Help Companies Enter Untapped Overseas Markets

Finance Minister Vows to Help Companies Enter Untapped Overseas Markets

SEOUL/SEJONG, Jan. 28 (Korea Bizwire) – South Korea’s finance minister said Thursday that the government will make determined efforts to help companies make headway into untapped overseas markets like Iran, and revive exports as Asia’s fourth largest economy strives keep alive its economic momentum in the coming months. “We are facing challenges as uncertainties are [...]

S. Korean Finance Minister Stresses Budget Frontloading in Q1

S. Korean Finance Minister Stresses Budget Frontloading in Q1

SEJONG, Jan. 26 (Korea Bizwire) – South Korea’s finance minister asked government ministries and agencies on Tuesday to make all-out efforts to frontload their budget spending in the first quarter to preemptively cope with rising economic uncertainties at home and abroad. “The government is pushing forward with the frontloading of fiscal spending in the first [...]