Organization for Economic Cooperation and Development Archives | Be Korea-savvy
Korea’s Tax Revenue Growth Fails to Keep Up with Economic Expansion

Korea’s Tax Revenue Growth Fails to Keep Up with Economic Expansion

SEOUL, Sept. 2 (Korea Bizwire) — South Korea’s tax revenue growth has failed to keep up with its economic expansion, a lawmaker said Wednesday, calling for the “normalization” of the country’s corporate income taxes. Citing a report by the National Assembly Budget Office, Rep. Park Kwang-on of the main opposition New Politics Alliance for Democracy said [...]

Korea’s ICT Sector Shows Off Highest Value Added Portion among OECD Nations

Korea’s ICT Sector Shows Off Highest Value Added Portion among OECD Nations

SEOUL, Aug. 11 (Korea Bizwire) – South Korea’s information and communications technology (ICT) sector has the largest portion of the value added against other segments among the Organization for Economic Cooperation and Development (OECD) members, thanks to its strength in electronics and optical productions, a report showed Tuesday. Asia’s fourth-largest economy came first with the value [...]

S. Korea’s Elderly in Poverty Highest among OECD Nations: Report

S. Korea’s Elderly in Poverty Highest among OECD Nations: Report

SEOUL, March 15 (Korea Bizwire) – The poverty rate of South Korea’s elderly was by far the highest among advanced countries, while the net pension replacement rate for the population was one of the lowest, a report showed Sunday. According to the report from the government-funded Korea Labor Institute, South Korea’s poverty rate among elderly [...]

Corporate Taxes to Shrink 15 pct, But Biz Community Claims Rates Still Too High

Corporate Taxes to Shrink 15 pct, But Biz Community Claims Rates Still Too High

SEOUL/SEJONG, Feb. 9 (Korea Bizwire) – South Korea’s tax earnings from the country’s 30 largest conglomerates are expected to shrink 15 percent this year, economic sources said Monday, as the business community claims rates are already high for a trade-dependent nation. Official data by Financial Supervisory Service (FSS) and corporate tracker Chaebul.com said the business groups [...]

Korea’s Per-capita GDP to Overtake That of Japan by 2020…LGERI

Korea’s Per-capita GDP to Overtake That of Japan by 2020…LGERI

“A study claimed that Korea’s per-person gross domestic products will surpass that of Japan by 2020. As the per-capita GDP difference between the two countries is projected to be at the historic low level this year, it seems the journey to catching up with Japan has already begun.” “The International Monetary Fund recently forecast that [...]