SEOUL, Dec. 17 (Korea Bizwire) — The South Korean economy has one of the highest portions of individuals running their own stores and shops, and they are getting pushed to the brink by a slumping economy and policy missteps, market watchers said Monday. Data from Statistics Korea put the number of self-employed people at some [...]
SUWON, Aug. 17 (Korea Bizwire) – Speaking on youth unemployment and the difficulties small and medium-sized businesses face in hiring and retaining new employees, Gyeonggi Governor Nam Gyeong Pil unveiled a number of policy proposals that would seek to resolve both issues. There were three chief proposals for those ages 18 through 34 in his [...]
SEJONG, July 1 (Korea Bizwire) – The South Korean government said Friday it will inject 5 trillion won (US$4.35 billion) into encouraging the use of eco-friendly vehicles to bring down fine dust particle levels in the air that have emerged as a source of concern here. The government will spend 3 trillion won on pushing [...]
BOEUN, June 11 (Korea Bizwire) – There’s an unfamiliar face working alongside Korean farmers at Mr. Song’s garlic farm in a peaceful town in Boeun County, North Chungcheong Province. His name is Tran, and he’s a 45-year-old Vietnamese citizen who arrived in Korea last week to help out with Song’s farming operation. Tran was recommended [...]
SEOUL, Feb. 16 (Korea Bizwire) – The Cabinet approved a law revision Tuesday to toughen the punishment for taxi drivers who rip off passengers. Under the revision, a taxi driver who is caught three times for overcharging a customer will face the maximum punishment of having his business license nullified. Previously, a taxi driver who [...]
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 [...]
SEJONG, Jan. 14 (Korea Bizwire) - South Korea will make full use of its free trade agreements (FTAs) and diversify products and services it sells overseas to revive exports in 2016 after a disappointing performance a year earlier, the trade ministry said Thursday. In a 2016 policy report to President Park Geun-hye, the Ministry of Trade, [...]
SEJONG, Jan. 14 (Korea Bizwire) – The government said Thursday that it will put its top economic policy priority on jump-starting the country’s economy by focusing fiscal spending on a faster recovery of domestic demand and revitalizing sagging exports. In a joint report to President Park Geun-hye on the government’s economic policy goals for this [...]
SEOUL, July 16 (Korea Bizwire) – The Ministry of Justice made on July 15 a preliminary announcement on legislations related to corporate governance. The legislations put together opinions raised in a public hearing held on June 14. The ministry will submit the final proposal to the National Assembly during the latter half of this year. [...]