News
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
Venture minister vows to expand support for startups
South Korea's venture minister said Thursday that the government is committed to expanding support for startups, which eventually would jack up employment. Venture investment in South Korea is estimated at 3.4 trillion won ($3.04 billion) last year, which marks a ... Read More
Seoul to spend 537 b won for traditional markets
South Korea plans to spend 537 billion won ($478 million) to help nurture the country's traditional markets, the government said Wednesday. According to the Ministry for SMEs and Startups, around half of the earmarked budget will be spent to help ... Read More
Import prices fall to 8-month low in Dec. on falling oil prices: BOK
South Korea’s import prices fell for two consecutive months in December and reached an eight-month low, amid a prolonged fall in crude oil prices, central bank data said Tuesday. The import price index stood at 85.01 last month, down 3.4 ... Read More
President Moon to meet with leaders of top conglomerates
President Moon Jae-in will hold a meeting this week with the leaders of the country's largest businesses, the presidential office Cheong Wa Dae said Monday. The meeting will be held Tuesday at Cheong Wa Dae, involving top executive officers of ... Read More
Korea’s exports fall 7.5% in first 10 days of January
South Korea's exports fell 7.5 percent in the first 10 days of January from a year earlier due largely to a sharp decline in shipments of semiconductors and ships, customs data showed Friday. The country's outbound shipments reached $12.7 billion ... Read More