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Finance minister nominee tasked with invigorating economy to spearhead income-led growth strategy

Struggling with weak job numbers and slack facility investment, President Moon Jae-in Friday tapped a veteran fiscal policy expert as the new finance minister who will spearhead his signature income-led growth policy. The nomination of Hong Nam-ki, currently chief of ... Read More

[Breaking] Korea Blue House reshuffles top economic policymakers

The presidential office Cheong Wa Dae on Friday replaced the nation’s top two economic policymakers -- Deputy Prime Minister and Finance Minister Kim Dong-yeon and presidential chief of staff for policy Jang Ha-sung -- amid persisting skepticism over the country’s ... Read More

Samsung chief meets Microsoft CEO on forging deeper cloud, AI partnership

Samsung Electronics Vice Chairman Lee Jae-yong met Microsoft CEO Satya Nadella in Seoul to discuss ways to strengthen cooperation in areas including artificial intelligence and cloud-computing technology, according to industry sources Wednesday. During the meeting, the two agreed to expand ... Read More

Ministry denies Japan’s accusation that shipbuilding subsidies break WTO rules

The Korean government on Wednesday denied the Japanese government’s claim that Seoul breached international trade rules, saying its decision to provide subsidies to ailing shipbuilders complies with the rules. Officials at South Korea’s Trade Ministry said they are willing to ... Read More

Samsung promotes QLED 8K with upscaling processor

Samsung Electronics Co. on Wednesday hosted an event to promote QLED 8K TVs in South Korea, claiming the product will set a new standard in the global market for premium TVs along with the microLED products. The event came after ... Read More

[Newsmaker] Anxiety heightens on stock market depreciation

Market observers remained tense throughout the weekend amid burgeoning skepticism that the stock benchmark Kospi might dip below the psychologically significant threshold of 2,000 this week, reeling under the prolonged US-China trade tension and visible losses in recent corporate earnings. ... Read More

Korea’s economic growth being hurt by weak employment, falling investment

The South Korean economy is expected to post a weak annual growth for this year due to the country's high unemployment rate coupled with the falling corporate investment, industry watchers said Sunday. The Bank of Korea recently revised down the ... Read More

Number of temporary workers inches up in 2018

The number of temporary workers in South Korea rose slightly this year from a year earlier, with the percentage of such employment also rising, government data showed Tuesday. A total of 6.61 million workers were non-regular workers, part-timers or outsourced ... Read More