SEOUL, Nov. 9 (Korea Bizwire) — President Moon Jae-in plans to replace his finance minister as early as this week, an official familiar with the issue said Thursday. The announcement on replacing Finance Minister Kim Dong-yeon could be made before Moon leaves for Singapore on Nov. 13 for annual summits with Southeast Asian and other [...]
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 [...]
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 [...]
SEJONG, Nov. 15 (Korea Bizwire) – South Korea’s finance minister said Wednesday that the government will make efforts to reduce increasing labor costs that small businesses would suffer due to the government-led hike in minimum wage. President Moon Jae-in has pledged to increase the minimum wage to 10,000 won (US$8.98) by 2020. 2020, as part of his efforts to narrow the income gap and boost private consumption, which may [...]
SEJONG, Nov. 8 (Korea Bizwire) – South Korea’s finance minister said Wednesday that he will gradually expand the issuance of longer-term Treasury bonds in a bid to raise government funds for fiscal projects in a more reliable manner. “The South Korean government will increase the percentage of long-term state bonds in order to finance mid- and long-termfiscal plans on a stable basis and to keep up with the fast-changing market demand,” Finance Minister Kim Dong-yeon said in [...]
SEOUL, Aug. 18 (Korea Bizwire) – Finance Minister Kim Dong-yeon pledged Friday to remove barriers and regulatory blocks so that entrepreneurs can easily start their own business and lead the country’s innovative growth. Visiting the Tech Incubator Program for Startup (TIPS) Town in southern Seoul, Kim said he intends to double the TIPS-related budget for [...]
SEOUL, June 22 (Korea Bizwire) – The number of people earning a living by renting property has risen sharply in recent years, government data showed Thursday, amid a market boom brought on by policy measures to prop up the housing market. The total number in the rental and leasing businesses surged to 1,452,000 people as [...]
SEOUL, June 13 (Korea Bizwire) – The chief of South Korea’s central bank on Tuesday renewed his stance to maintain the current monetary easing policy to support growth despite a possible U.S. rate hike this week. “As I mentioned yesterday, we will maintain the accommodative monetary policy to help out with economic recovery. We cannot [...]