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. 10 (Korea Bizwire) – South Korea’s finance minister on Friday met with officials from the International Monetary Fund (IMF) and discussed the country’s economic and financial policies, the ministry here said. Finance Minister Kim Dong-yeon held a meeting in Seoul with the IMF mission led by Tarhan Feyzioglu, which has been on a [...]
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 [...]