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Industry minister vows to cut red tape to stimulate manufacturing

South Korea's industry minister vowed to cut red tape to ease the excessive burden felt by businesses and expand support for the slumping manufacturing industry. Sung Yun-mo, minister of trade, industry and energy, renewed his pledge for deregulation in a ... Read More

Korea’s exports fall in first 10 days of Nov

South Korea's exports fell by 4.8 percent in the first 10 days of this month from a year earlier due largely to a decline in shipments of chips and fewer working days, customs data showed Monday. The country's outbound shipments ... Read More

Korea’s manufacturing output falls sharply, SMEs affected more than big biz

South Korea's manufacturing sector output fell sharply in the first nine months of the year, with smaller businesses affected more than big companies, government data showed Sunday. According to the 2018 mining and manufacturing sector data released by Statistics Korea, ... Read More

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