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ECONOMY

  • Lee’s ‘bad bank’ plan secures ₩400 billion in funding

    President Lee Jae-myung’s signature campaign pledge to launch a “bad bank” for distressed debt relief is now moving into action. Backed by the recently approved second supplementary budget, the program aims to support financially vulnerable individuals hit hard by the COVID-19 aftermath, rising interest rates, inflation, and economic downturn. The Financial..

  • S. Korea’s worsening fiscal soundness

  • AsiaToday reporter Lee Ji-hoon“Due to active fiscal management recently, South Korea’s fiscal deficit has surged and the national debt has increased rapidl..
  • S. Korea’s economy grows 1.6% in Q1

  • AsiaToday reporters Moon Noo-riSouth Korea’s first quarter GDP growth was up 1.6 percent from the previous quarter, springing back to pre-pandemic levels...
  • Shinhan, Woori celebrate 20th anniversary

  • AsiaToday reporters Cho Eun-gook & Lee Joo-hyungThe role of financial companies is growing in the South Korean economy. It’s been 20 years since both S..
  • S. Korea to expand nation’s rail network to connect new locations

  • AsiaToday reporter Hwang Eui-joongSouth Korea’s railway network for major cities will be expanded across the nation over the next decade. A new express tra..
  • S. Korea’s national budget likely to exceed 600tr won

  • AsiaToday reporter Lee Ji-hoonSouth Korea’s state budget is likely to exceed 600 trillion won next year as the government has decided to maintain its aggre..
  • S. Korea unveils another massive home supply plan

  • AsiaToday reporter Lee Chul-hyunThe South Korean government plans to build 320,000 new houses in Seoul and 830,000 nationwide by 2025. Together with housin..
  • S. Korea to charge 20% tax on crypto gains under new law

  • AsiaToday reporter Lee Ji-hoon Starting 2023, South Korea will tax profits of over 50 million won made from transactions of listed shares at 20%. The..
  • Gov’t plans to grant third disaster relief funds for virus-hit small businesses

  •  AsiaToday reporter Lee Jang-won The government, Cheong Wa Dae and the ruling Democratic Party (DP0 agreed to provide relief grants of up to 3 mi..
  • Seoul city to provide 900 billion won COVID relief for small businesses

  • AsiaToday reporter Kim In-heeThe Seoul city government has announced a new relief package worth some 900 billion won, or about 810 million dollars, for sma..
  • Gov’t to supply 460,000 homes in 2021

  • AsiaToday reporter Lee Ji-hoon Finance Minister Hong Nam-ki said Tuesday that the government will provide 460,000 housing units next year, including 3..
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people

“Hallyu ban to be removed quickly”: Hopes of thaw in Seoul-Beijing ties

· “Efforts will be made to remove Hallyu ban quickly”
· SK Group Chairman heads to Japan to soften “WD risk”

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Moon Ga-young shines at Radiesse pop-up studio opening event

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