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The Korea Herald

Economy

August 27, 2024
Trump presidency to boost Korea-US chip alliance: Heritage Foundation VP

Derrick Morgan, executive vice president of the US think tank Heritage Foundation, said he expected that economic cooperation between South Korea and the US would deepen, focusing on shipbuilding and semiconductors, if Donald Trump wins the 2024 US presidential race. “The US and the rest of the w...
August 27, 2024
Another tight year ahead for Korea in 2025 with 3.2% budget increase

The Ministry of Economy and Finance has proposed a 677.4 trillion won ($509.2 billion) budget for next year, focusing on fiscal consolidation while bolstering public welfare and investing in strategic emerging industries. The budget, proposed by the finance ministry and endorsed by the Cabinet on ...
August 27, 2024
Korean export delegation visits Vietnam to enhance agricultural trade

A South Korean export delegation arrived in Vietnam on Monday for a weeklong trip aimed at promoting high-quality Korean agricultural products and facilitating their entry into the Vietnamese market. Led by officials from the Ministry of Agriculture, Food and Rural Affairs, the delegation includes...
August 23, 2024
Korea's private consumption to pick up after H2: BOK

South Korea’s domestic consumption is expected to recover gradually after the latter half of this year, but an aging population and sluggish self-employed businesses could dampen the rebound hope, the country’s central bank said Friday. The Bank of Korea said that the recovery of private consump...
August 22, 2024
BOK keeps rate at 3.5%, cuts growth projection to 2.4%

The Bank of Korea kept the base rate steady at 3.5 percent Thursday while slashing the projection for economic growth by 0.1 percentage point to 2.4 percent due to slow domestic demand. All members of the monetary policy board agreed on the rate freeze. Of the six members, excluding BOK Gov. Rhee ...
August 22, 2024
Korea unveils trade roadmap to tackle protectionism in mega election year

South Korea has set a goal to secure the most extensive free trade agreement network and to establish a risk management system to handle growing geopolitical uncertainties in a "super election" year, the Industry Ministry said Thursday while announcing the country's new trade policy roadmap. In a ...
August 21, 2024
Percentage of younger employees drops at major Korean companies: report

Major South Korean companies are seeing an increase in the percentage of employees aged 50 or older, while that of employees in their 20s is declining, a recent report by corporate analysis firm Leaders Index showed Tuesday. The firm analyzed 2021-23 data of 141 companies among the top 500 in the ...
August 21, 2024
Govt. to extend financial support for Tmon, WeMakePrice vendors

The South Korean government is ramping up financial aid to address the rapidly growing unpaid bills from Qoo10 Group’s e-commerce subsidiaries, which have now exceeded 800 billion won ($600 million). On Wednesday, the Finance Ministry announced that overdue payments to vendors on Tmon and WeMakeP...
August 20, 2024
Percentage of younger employees drops at major Korean companies: report

Major South Korean companies are seeing an increase in the percentage of employees aged 50 or older, while that of employees in their 20s is declining, a recent report by corporate analysis firm Leaders Index showed Tuesday. The firm analyzed 2021-23 data of 141 companies among the top 500 in the ...
August 19, 2024
Bankers better paid than Samsung, Hyundai Motor workers

The average earnings of bankers at South Korea's four major banks in the first half of this year amounted to 60.5 million won ($45,300), surpassing the pay at some of the country's largest companies. According to recent public disclosures reported by the banks to the Financial Supervisory Service,...
August 18, 2024
More young Koreans giving up on finding a job

The number of young people not in education, employment or training, known as NEET youth, was at its highest last month for any July on record, revealing South Korea’s deepening troubles in the labor market. The number of NEET Koreans who were found not to have actively sought jobs between the ag...
August 18, 2024
[Contribution] Boosting trade through digital innovation, global cooperation

By Lee Seong-woo "I'll keep changing it for you." This tagline from a global shopping website's free return policy ad recently stirred up controversy here. Despite receiving a warning from the government for its misleading ad, the e-commerce platform managed to climb to second place among the coun...
August 16, 2024
Foreign investors lukewarm on Korea's 'Value-up' program: Bank of America survey

Nearly 70 percent of foreign investors expect South Korea's government-led Corporate Value-up Program to have minimal or moderate impact on the capital market, according to a recent Bank of America survey. The survey, conducted earlier this month with around 200 Asian fund managers, revealed that ...
August 14, 2024
AmCham seminar offers insight on US work visa

The American Chamber of Commerce in Korea hosted a seminar on Wednesday at the IFC Forum in Yeouido, Seoul, offering an in-depth overview of the US work visa process. The event focused on providing essential information about US work visas, including the visa categories, their specific requirement...
August 14, 2024
Regulations hinder corporate charitable missions: KCCI

Korean corporate foundations are making less social impact than those in major economies because of strict overlapping regulations, the Korea Chamber of Commerce and Industry said Tuesday, urging the government to revise tax codes to encourage corporate philanthropy. According to the World Giving ...

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Herald Corporation |CEO : Choi Jin-Young |Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea |Title : The Investor |Date of registration : 2016.06.21 |Date of issue : 2016.06.21
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