SEOUL, July 30 (Korea Bizwire) — The finance ministry said Wednesday it has briefed President Lee Jae Myung on plans to adopt a “performance-based” fiscal management approach aimed at enhancing investment efficiency and fiscal sustainability. The report was delivered during the third meeting of the emergency economic response task force, presided over by Lee. The [...]
SEOUL, Jul. 4 (Korea Bizwire) — Finance Minister Choi Sang-mok called for proactive and preemptive responses Thursday to prevent possible massive changes in external circumstances from affecting South Korean exports so as to maintain economic recovery momentum. Choi made the remarks during a meeting of ministers working on external economic issues in Seoul, stressing the [...]
SEOUL, Jan. 5 (Korea Bizwire) – South Korea’s increase of the minimum wage will boost private spending, which in turn can help Asia’s fourth-largest economy break from its low growth trend, a senior government official said Friday. In July last year, the country decided to raise its minimum wage by 16 percent to 7,530 won [...]