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Economy

Mon, June 5, 2023 | 02:59

NTS shares electronic taxation know-how

NTS shares electronic taxation know-how

The National Tax Service (NTS) shared its know-how concerning its electronic tax filing service with the Hungarian tax agency, to provide support for the digital transition of the Central European country's taxation system.

Yoon Ja-young | 2023-04-25 16:22

Korean economy avoids recession in Q1 on improved private spending

Korean economy avoids recession in Q1 on improved private spending

The Korean economy grew 0.3 percent in the first quarter of 2023 from three months earlier, thanks to an increase in private spending that helped the trade-reliant economy escape recession amid a prolonged slowdown in exports.

Yi Whan-woo | 2023-04-25 16:02

Korea to host international meeting on post-pandemic customs policies

Korea to host international meeting on post-pandemic customs policies

The Korea Customs Service (KCS) will host an international meeting in Seoul from Wednesday to Friday, with the aim of bolstering cooperation in customs policies across borders to grapple with the changes brought on by the pandemic to the trade environment.

Yi Whan-woo | 2023-04-25 15:45

Delinquency ratio on bank loans hits 30-month high in February due to rate hikes

Delinquency ratio on bank loans hits 30-month high in February due to rate hikes

The delinquency ratio on loans extended by banks in Korea hit a 30-month high in February, as borrowers are under pressure from rate hikes, data showed Tuesday.

2023-04-25 15:14

[CONTRIBUTION] KOPPEX 2023 to relieve slowing exports

CONTRIBUTIONKOPPEX 2023 to relieve slowing exports

196 trillion won ($146.7 billion). This is the size of the nation's entire public procurement market last year. What if we extend the stage to the world? If calculated on average across OECD countries, the global public procurement market is estimated to be around $12 trillion. It's a huge market that accounts for a staggering 13 percent of global GDP.

2023-04-25 10:49

Korean economy avoids recession in Q1; outlook dims amid weak exports

Korean economy avoids recession in Q1; outlook dims amid weak exports

Korea's economy narrowly avoided a recession in the first quarter of the year after a contraction the previous quarter, central bank data showed Tuesday.

2023-04-25 09:31

Korea to up budget on countering drug trafficking

Korea to up budget on countering drug trafficking

Korea's finance ministry said Monday it plans to "sufficiently" reflect the country's efforts to root out drug trafficking activities in next year's budget.

2023-04-24 17:27

FSC to assist fintech firms advancing into overseas markets

FSC to assist fintech firms advancing into overseas markets

The Financial Services Commission (FSC) will spare no efforts in supporting domestic fintech firms advancing into overseas markets, its vice chairman said Monday.

Lee Yeon-woo | 2023-04-24 16:24

Korea to join global stress test on banking sector

Korea to join global stress test on banking sector

Korea's central bank and financial regulator said Monday that they will conduct a stress test on local banks under the guidelines offered by global banking watchdogs.

2023-04-24 13:50

'Young adults' debts are not entirely their fault': social cooperative

'Young adults' debts are not entirely their fault': social cooperative

Around half of people who sought personal bankruptcy protection last year were in their 20s or 30s, which was the highest rate since the Seoul Bankruptcy Court began compiling such data. Due to several sensational media stories, young adults who seek financial assistance for an economic recovery have been often criticized for making “irresponsible investments.”

Lee Yeon-woo | 2023-04-24 09:00

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