SEOUL, Feb. 6 (Korea Bizwire) – The finance ministry plans to block access to the Chinese artificial intelligence (AI) service DeepSeek, a ministry official said Thursday, in the latest of Seoul’s restrictions on the use of the service among officials amid data collection concerns. “Due to multiple technical concerns raised about DeepSeek from home and [...]
SEOUL, Feb. 26 (Korea Bizwire) – The search for solutions to South Korea’s critically low birthrate is increasingly highlighting the pivotal role of fiscal authorities. While the Presidential Committee on Ageing Society and Population Policy serves as the interdepartmental control tower and the Ministry of Health and Welfare is the primary agency, the essence of many [...]
SEOUL, Jan. 4 (Korea Bizwire) — South Korea’s finance ministry said Wednesday it plans to use around 30 billion won (US$23.5 million) to offer discounts on major food products in line with efforts to stabilize their prices ahead of the Lunar New Year. The government also plans to increase the supply of 16 food items [...]
SEOUL, Jan. 22 (Korea Bizwire) — South Korea’s finance ministry has increasingly found itself in hot water over growing calls to dig deeper into state coffers in response to the pandemic-caused economic slump, as it is wary of the country’s ballooning debt. A row over the finance ministry’s fiscal role reignited this week after Prime [...]
SEOUL, May 6 (Korea Bizwire) – The official English title of Korea’s finance ministry is theMinistry of Strategy and Finance. It used the term “strategy” to stress its role in planning future strategy for Korea’s economy. However, it is not easy for non-Koreans to fully grasp its role based solely on the title. During the [...]