South Korea's finance minister nominee said Wednesday that he will make more efforts to expand fiscal policies, including taxation, to play a greater role in improving income distribution."The government has taken steps to have taxation contribute to enhancing distribution of income, but its ef
Since the inauguration of the President Horacio Cartes in August 2013, Paraguay has quickly shifted away from agriculture and livestock farming dependent industries to open markets, attracting foreign investments. Since 2014 Paraguayan Government has been investing $1 billion annually, planning 17 v
Seoul Dairy Cooperative (President Young-hon Sung) launched major customer appreciation event dedicated to the 80th Anniversary of its establishment. Customers who buy any dairy products above 8080 KRW can win valuable prizes, including ‘Me 100%’ milk mobile gift certificates, movie tickets, tablets
The World Green Economy Organization (WGEO) launched by HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai in October 2016 and supported by the United Nations Development Programme (UNDP), launched the Smart & Sustainable Cities Platform, in Seo
Cargo processed at South Korean seaports gained ground last month from a year earlier on brisk outbound shipments, government data showed Thursday.Cargo handled at the country's seaports came to 129.62 million tons in April, up 6.6 percent from 121.54 million tons tallied a year earlier, accordi
Leading retailers are planning more hirings this year in step with the new government's emphasis on jobs and employment stability, industry watchers said Wednesday.Lotte Group, which owns a chain of department stores and supermarkets, hired 13,300 new employees last year. It said it will try to
Fathers are far less committed than mothers to everyday parenting, such as taking part in a child's school events, a local study showed Monday, raising calls for the adoption of a more parents-friendly work system in the country.According to the latest research by the Korea Institute of Child Ca
More than 36 percent of people hired by South Korean public firms and institutions are non-regular or outsourced workers as of last year, government data showed Saturday.Out of 328,519 workers in 332 state-funded institutions, 36,499 people were non-regular employees with two-year contracts as of en
Local egg prices were rising again with the country yet to stabilize the market following the latest outbreak of bird flu, officials said Thursday.The Korea Agro-Fisheries & Food Trade Corp. said a carton of 30 eggs was priced at an average of 8,027 won (US$7.17) as of Wednesday, up 61.3 percent fro
South Korea's credit card spending jumped nearly 14 percent in March from a year ago on higher oil prices and a rise in the number of outbound travelers, data showed Wednesday.Credit card purchases totaled 66.4 trillion won (US$59.5 billion) in March, up 13.7 percent from the same month a year e
South Korea's new Moon Jae-in government will push to introduce a cap on household debt to prevent it from rising further and thus straining Asia's fourth-largest economy, a chief adviser to the president said Monday.The Moon administration will place restrictions on total household indebted
Moon Jae-in, who is sure to be South Korea's next president, is expected to focus on the country's four biggest conglomerates as he pushes for a broad corporate reform drive, his economic aides said Wednesday.The new Moon government has two major goals in reforming the business giants: one i
Samsung Heavy Industries Co. said it partially resumed operations Saturday, after being shut down for six days following a deadly crane accident at one of its shipyards earlier this week.The Ministry of Employment and Labor had ordered the South Korean shipbuilder to suspend operations at its shipya
Lotte Group is facing huge losses as its outlets in China have remained closed for about two months over Beijing's apparent retaliation against the deployment of an advanced U.S. missile defense system in South Korea, according to group officials Friday.Chinese authorities ordered Lotte to close
Chief financial policymakers of South Korea, Japan and China have vowed to fight against "all forms of protectionism" amid growing concerns of U.S. President Donald Trump's protectionist policies.Finance ministers and central bank governors of the three nations made the pledge Thursday after t
LG Electronics Inc., which posted a robust operating profit for the first quarter, especially in the home appliances business, is anticipated to focus on its premium products to maintain sound returns, industry watchers said Thursday. South Korea's No. 2 tech giant posted sales of 4.6 tr
South Korea's current account surplus narrowed in March from a year earlier due to an increased deficit in the service balance, central bank data showed Thursday.The country's current account surplus reached US$5.93 billion in March, compared with a surplus of $10.55 billion a year earlier,
South Korean retailers are betting on suburban outlets to secure a new profit driver as they find little room for growth in the downtown department store business, industry sources said Wednesday. Lotte Group, Hyundai Department Store, Shinsegae Co. and other retail conglomerates said
Sales of Samsung Electronics Co.'s new flagship Galaxy S8 smartphone stood at about 22,200 units on Saturday in South Korea, industry data showed Sunday, up compared to weekdays.The increase marks a gain from 16,000 units activated by the country's carriers on Thursday and some 17,000 units
Presidential Candidate Ahn Cheol-soo of the People’s Party repeatedly reiterated the importance and urgency to actively meet the requirements of the approaching era of Fourth Industrial Revolution—befitting his original job titles: a scientist, a medical doctor and a scholar.Speaking at panel