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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, indu...

Nov 12, 2018
Economy
Finance minister nominee says raising growth potential top priority

The finance minister nominee said Monday that he will work on a set of measures aimed at boosting the country's growth potential, with a focus on improving dismal job conditions. "My task is to help...

Nov 12, 2018
Economy
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. Th...

Nov 12, 2018
Economy
Govt. to focus on improving people's livelihoods, structural reforms: minister nominee

South Korea's government will focus all of its efforts to improve people's livelihoods and push forward timely structural reforms that can back up income-led growth goals, the finance minister nomine...

Nov 11, 2018
Economy
New firms in knowledge intensive fields show strong long-term employment effect: report

Startups in the manufacturing industry, especially in knowledge intensive fields like semiconductors, tend to contribute more to job creation in the long term, compared with those in the service sect...

Nov 11, 2018
Economy
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...

Nov 11, 2018
Economy
Korea's ability to create jobs expected to hit 9-year low

The South Korean economy's ability to create new jobs is expected to fall to the lowest level in nine years in 2018, the central bank's estimate showed Sunday. The Bank of Korea expected the gross d...

Nov 11, 2018
Economy
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-...

Nov 9, 2018
Economy
[New Analysis] Kim-Jang reshuffle inevitable for Moon amid pressing economy

The replacement of the nation’s top two economic policymakers had long been speculated as inevitable for the Moon Jae-in administration to keep its policy momentum amid prolonged economic challenges ...

Nov 9, 2018
Economy
[Profile] Cheong Wa Dae taps insiders for reshuffle of top posts

In replacing the top two economic policymakers on Friday, Cheong Wa Dae has chosen insiders from the incumbent bureaucratic society. Hong Nam-ki, 59, who was named to replace Kim Dong-yean as deputy...

Nov 9, 2018
Economy
[Breaking] Blue House reshuffles top economic policymakers

Kim Dong-yeon, Jang Ha-sung step down amid stagnant economy

Nov 9, 2018
Economy
Retail sales, service output face extended slump in restructuring-hit region

Retail sales and service output in restructuring-hit regions continued to remain in a slump in the third quarter, government data showed Thursday. According to the data compiled by Statistics Korea,...

Nov 8, 2018
Economy
Seoul to provide W15b for Korean firms eyeing ASEAN market

Some 15 billion won ($13.4 million) will be allocated in the national budget next year to assist Korean small and medium-sized companies making inroads into the Southeast Asian market, a presidential...

Nov 7, 2018
Economy
Experts call for more infrastructure spending

Calls are growing for the government to increase infrastructure spending to shore up the country’s slowing economy and improve its worsening employment conditions. Since its launch in May last year,...

Nov 7, 2018
Economy
Vehicle fuel price dips upon tax cut effectuation

South Korea reported a sharp decline in the price of gasoline, diesel and liquefied petroleum gas Tuesday, as the government effectuated its temporary tax break on vehicle fuels in an effort to allev...

Nov 6, 2018
Economy

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