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Korea greenlights fast-track process for W24.1tr worth of state-led projects

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Korea greenlights fast-track process for W24.1tr worth of state-led projects

The South Korean government on Tuesday approved the waiving of preliminary feasibility studies for 23 nonmetropolitan infrastructure projects worth 24.1 trillion won ($21.6 billion), as part of its mid- and long-term blueprint to encourage balanced regional growth. It also unveiled ... Read More

[News Focus] Korea seeks to ease trade dependency on China, US, Japan

SEJONG -- South Korea began to seek free trade deals in 1999, when it started negotiations with Chile, its first partner for a free trade agreement that took effect in April 2004. Over the past 20 years, 15 FTAs between ... Read More

[Monitor] Cigarette sales down due partly to higher prices

Sales of cigarettes in South Korea fell 1.5 percent in 2018 from a year earlier, data from the Ministry of Economy and Finance showed. A total of 3.47 billion packs were purchased last year, down slightly from 3.52 billion packs. ... Read More

Korea’s consumer sentiment rises for second straight month in Jan.

South Korea's consumer sentiment rose for the second month in a row in January as hopes are high for the government's economic stimulus measures for the new year, a central bank poll showed Friday. The composite consumer sentiment index for ... Read More

Govt. to offer financial support for overseas construction, plant orders

The government will provide financial support for overseas construction and plant orders to shore up exports that are showing signs of weakening, Finance Minister Hong Nam-ki said Wednesday. Global trade disputes and China's economic slowdown are casting a shadow on ... Read More

Korea to turn unused land into public houses, innovative business space

The South Korean government will turn unused state-owned land equivalent to 2.4 times the size of Yeouido into sites for public houses and business space for innovative companies, the nation’s chief fiscal policymaker said Wednesday. To back the plans, the ... Read More

Over half of Koreans predict negative economic effect from minimum wage hike

More than half of South Koreans think this year's minimum wage hike will have a negative effect on the economy, a survey showed Friday. The poll of 1,002 adults nationwide by Gallup Korea found 52 percent of people predict negative ... Read More

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