SEOUL, Aug. 5 (Korea Bizwire) -- South Korea’s tax burden ratio is expected to surpass 20 percent of its gross domestic product (GDP) mark for the first time this year, as the government pushes forward expansionist fiscal policies, officials said Sunday. The finance ministry predicted that the country’s tax burden will likely reach record levels [...]
SEOUL, April 12 (Korea Bizwire) — The central bank said Thursday that the South Korean economy is expected to grow 3 percent this year despite rising uncertainties at home and abroad. The Bank of Korea (BOK) maintained its earlier growth forecast made in January, when it adjusted up the growth rate 0.1 percentage point from [...]
SEOUL, March 28 (Korea Bizwire) — Nearly half of manufacturing firms in South Korea plan to make more facility investment in 2018 than last year amid modest signs of economic recovery, a survey showed Wednesday. According to the poll on 269 companies conducted by the Bank of Korea (BOK), 44.6 percent of the respondents said [...]
SEOUL, March 14 (Korea Bizwire) — The money supply in South Korean rose at the fastest clip in seven months in January on increased fiscal surplus, central bank data showed Wednesday. The country’s M2 totaled 2,556.1 trillion won (US$2.39 trillion) in January, up 5.5 percent from 2,414.9 trillion won a year earlier, the Bank of [...]
SEOUL, March 12 (Korea Bizwire) — Economically active South Koreans over 60 outnumbered people in their 20s for the first time ever in 2017, government data showed Sunday. According to Statistics Korea, there was a rise in the number of people in both groups but because those in their 20s put off work in the [...]
SEOUL, Aug. 22 (Korea Bizwire) — South Korea’s consumer confidence has hit a 22-year high for the second half of the year on expectations for the country’s newly inaugurated government, a survey showed Tuesday. South Korea’s overall consumer confidence for the July-December period stands at an average 78 on a full scale of 100, up [...]