Updated: 54 min 11 sec ago
Increasing productivity will be the key to successfully implementing the new 52-hour workweek, the chairman of a state-led Korea Productivity Center (KPC) said Thursday. “Though the official starting date for the shortened workweek has been delayed, we still have to work towards a (high productivity) system where this shortened workweek can be implemented in a sustainable way,” Noh Kyoo-sung, chairman of KPC, said at a press luncheon.
Solar power plants installed on mountains are causing landslides. Experts say that the government should slow down transition to renewable energies since they also are showing side effects such as environmental problems on top of inefficiency.
The Korea Land and Geospatial Informatix Corp. (LX) achieved the highest rating in the annual management evaluation of state-owned enterprises, thanks to efforts to set up an ecosystem for innovative growth.
Financial regulators plan to ease rules on crypto-based assets in line with policies initiated by G20 nations to establish “unified regulations.” The Financial Services Commission (FSC), which oversees policies and directs the Financial Supervisory Service (FSS), has revised its guidelines relating to “all activities” of Korea's leading cryptocurrency exchange operators.
U.S. restrictions on imports of South Korean steel, washing machines and solar cells are expected to cost Asia's fourth-largest economy more than $2.4 billion in lost exports over the coming years, a parliamentary report said Thursday. The Donald Trump administration's import restrictions on the three products could make South Korea suffer an export loss of $2.47 billion over the next few years, according to the report by the National Assembly Budget Office.
The National Pension Service (NPS), which has the key mission of managing the retirement fund for the country's 21.2 million subscribers, is drifting as its chief fund managers are resigning.
KB, Shinhan, Woori and other banks are losing growth momentum due to saturation of the domestic market, financial industry officials said Wednesday.
A recommendation by a special presidential panel that a heavier tax should be levied on financial income is adding to the concerns of senior citizens who rely on interests and dividends. Investment in diverse financial products may also decrease, market watchers warn.
The Fair Trade Commission (FTC) plans to rein in how holding companies of the nation's large business groups make money as they “abuse” loopholes in the current system to enrich the pockets of controlling families.
Korea is seeking cooperation with the United States and the United Arab Emirates to secure a nuclear power plant deal in Saudi Arabia. However, it is expected to face an uphill battle as the Middle Eastern kingdom included all five bidders in its shortlist; and the Moon Jae-in administration's shift from nuclear to renewable energy will work against Korea. The Ministry of Trade, Industry and Energy held a strategic meeting for exporting nuclear reactors, Monday, with representatives from the Korea Electric Power Corp. (KEPCO), Korea Hydro & Nuclear Power (KHNP) and other nuclear-related businesses.
DGB Daegu Bank is expected to continue suffering from a leadership vacuum as its CEO designate withdrew his nomination.
ATMs are on the decline as customers go digital. The country's leading lenders said Monday the number of ATM withdrawals is falling fast.
The government's plan to revise its roadmap for decreasing greenhouse gas emissions is weighing on industries. Analysts say local businesses are more vulnerable to the plan since they are mostly big-energy consumers concentrating on exports. While acknowledging that the country has to join the global efforts to cut carbon dioxide (CO2) emissions, businesses complain the government is putting too much pressure on them without sufficient preparation time.
Mirae Asset Global Investments is attracting customers with its high-return funds. According to market researcher KG Zeroin, the Mirae Asset G2 Innovator, Pension Global Gross and Global Gross Fund posted 30.96 percent, 21.6 percent and 21.58 percent earnings rates, respectively, last year.
South Korea's government said Monday it will step up collaboration with the local nuclear industry to boost the country's chances to win Saudi Arabia's nuclear project after the state-run Korea Electric Power Corp. (KEPCO) was shortlisted along with four other bidders.
The stock price of Kakao has fallen dramatically this year due to its deteriorating operating profit and mounting expenses for investing in new businesses. The company, best known for its KakaoTalk chat app, had once reached 160,000 won ($143) per share, but now has declined below 120,000 won per share due to its sluggish earnings this year.
Domestic and international think tanks are rushing to revise down Korea's 2018 growth rate to below 3 percent on sluggish consumption and investment and deteriorating job market conditions. In addition, growing concerns over a global trade war sparked by the Trump administration threaten the export-dependent economy.
For blockchain, opening the “source code” is essential to building trust and safety in its networks.
The Ministry of Land, Infrastructure and Transport delayed its decision on Jin Air, whether to cancel its license or not. The transport minister Kim Hyun-mee had vowed to come up with the decision quickly, but failed to keep her promise.
The growth of South Korea's exports to India is slowing sharply due to stiffer competition from Chinese rivals, data by local trade associations showed Friday.