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Finance Minister Urges Preemptive Action Against China Risks

Finance Minister Urges Preemptive Action Against China Risks

SEJONG, Jan. 18 (Korea Bizwire) – South Korea’s finance minister called Monday for preemptive measures to block any fallout from economic uncertainties including a Chinese slowdown. “Earlier than expected, external downside risks stemming from China are drawing nearer,” Finance Minister Yoo Il-ho was quoted as telling a meeting of senior ministry officials. “We have to [...]

Finance Minister, BOK Chief Agree on Policy Harmony

Finance Minister, BOK Chief Agree on Policy Harmony

SEOUL, Jan. 15 (Korea Bizwire) -South Korea’s finance minister and the central bank chief agreed Friday to strengthen cooperation in managing economic and monetary policies in a bid to tide over current challenges at home and abroad. At their first meeting since Finance Minister Yoo Il-ho took office on Wednesday, Yoo and Bank of Korea [...]

Finance Minister Nominee Vows not to Tighten Mortgage Rules

Finance Minister Nominee Vows not to Tighten Mortgage Rules

SEJONG, Jan. 8 (Korea Bizwire) - South Korea’s finance minister nominee said Friday that he has no plan to tighten a set of eased mortgage regulations amid rising public demand to tackle mounting household debt. The government eased the loan-to-value (LTV) and the debt-to-income (DTI) rules in August 2014, shortly after the inauguration of Finance Minister [...]

China’s Stock Rout may Increase Financial Volatility

China’s Stock Rout may Increase Financial Volatility

SEOUL/SEJONG, Jan. 5 (Korea Bizwire) – China’s sudden stock crash could increase financial volatility requiring tougher government monitoring though its impact on the local market would be limited, South Korea’s top economic policymaker said Tuesday. In a meeting with leaders from the country’s financial sector in Seoul, Finance Minister Choi Kyung-hwan pointed out Monday’s crash [...]

Corporate Restructuring Needs Pain Sharing by All Sides

Corporate Restructuring Needs Pain Sharing by All Sides

SEOUL/SEJONG, Dec. 30 (Korea Bizwire) - Corporate restructuring efforts aimed at bolstering South Korea’s overall competitiveness should entail pain sharing by all interested parties, the top economic policymaker said Wednesday. Chairing his last meeting of economy-related ministers in Seoul, Choi Kyung-hwan said all restructuring efforts must be resolved in a speedy manner for the best possible [...]

Moody’s Rating Upgrade to Better Cushion S. Korea from U.S. Rate Woes

Moody’s Rating Upgrade to Better Cushion S. Korea from U.S. Rate Woes

SEOUL/SEJONG, Dec. 21 (Yonhap) - Moody’s Investor Service’s latest upgrade of South Korea’s credit rating is expected to better insulate the country from a recent U.S. interest rate hike and other external uncertainties, Seoul’s top economic policymaker said Sunday. In a news conference held in Seoul, Finance Minister Choi Kyung-hwan stressed the global credit appraiser’s decision to give Asia’s fourth largest economy an Aa2 rating is a clear sign of its confidence in the [...]

Weak Exports Impacting Industrial Output and Investments

Weak Exports Impacting Industrial Output and Investments

SEOUL/SEJONG, Nov. 27 (Korea Bizwire) - Weak exports are starting to impact industrial output and business investment in South Korea, the country’s top economic policymaker said Friday. Chairing the meeting of foreign economy-related ministers in Seoul, Finance Minister Choi Kyung-hwan said outbound shipments in October plunged at the sharpest rate in more than two years. “This [...]

S. Korea to Focus on New Growth Strategies

S. Korea to Focus on New Growth Strategies

SEOUL, Nov. 20 (Korea Bizwire) - South Korea will focus on building new growth strategies in drawing up its economy management plan for next year that could help the country tide over the fast-changing economic environment at home and aboard, the top economic policymaker said Friday. In a meeting with heads of major economic research institutes [...]