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Thu, March 23, 2023 | 10:27
Better preparation needed for aging foreign population in Seoul: experts
Seoul needs to prepare better to address the needs of the aging foreign population in the city, experts say. The suggestions come at a time when Korea is grappling with the extremely grave demographic challenges of its fast-aging population.
Economy | 2022-09-03 10:02
Korea urged to fix trade deficit with China through diversification, tech competitiveness
Calls are growing for Korea to diversify its trade with countries other than China, after Korea recorded three consecutive months of trade deficits with the world's No. 2 economy.
Economy | 2022-08-19 18:10
How can Korea's taxi shortage be resolved?
The shortage of cabs across the country continues to cause inconveniences, and the government and businesses have been struggling to come up with solutions. The dive in the number of operating taxis was driven by the COVID-19 pandemic, which prompted many drivers to leave the taxi-driving business amid a plunge in demand for ride services.
Markets | 2022-08-19 15:06
Korean businesses pressure gov't to lower inheritance tax
Korea's inheritance tax rate is drawing attention as business groups have stepped up their calls for the rate to be lowered. Local business groups often cite the fact that Korea's inheritance tax rate is one of the highest among the OECD member states.
Companies | 2022-08-18 08:39
Korea urged to overhaul pension, tax systems to cope with rapidly-aging population
Korea faces substantial tasks as the country grapples with one of the fastest rates of population aging around the globe that is set to make it the world's most aged society in 2045. To reverse this trend, policymakers until recently focused mainly on encouraging more births through various monetary incentives and support for childcare. But the government has now begun acknow...
Economy | 2022-08-17 17:10
Korean insurers seek to capitalize on China's growing online market
Korean insurers are on track to capture opportunities in China's fast-growing online market for insurance products. Samsung Fire & Marine Insurance last week secured approval from Chinese authorities to set up a joint venture with local entities including China's bigtech company Tencent.
Companies | 2022-08-16 16:52
Concerns grow over Korea's pension fund
Korea's public pension fund is the world's third largest, with close to 1,000 trillion won ($763.3 billion) of assets under management, but there are concerns over the agency's ability to manage the fund. The National Pension Service (NPS) faces the daunting task of reforming its pension system, as the fund is set to be depleted in the coming decades, with Korea's population ...
Economy | 2022-08-16 16:05
Why has Apple Pay been unavailable in Korea?
Talk of Apple Pay launching in Korea in partnership with a local credit card company is drawing interest to just what has prevented the entry of the tech giant's payment service here, since its introduction in 2014. In Asia, Apple Pay is available in mainland China, Japan, Taiwan, Hong Kong, Singapore and Malaysia. Questions have been raised over why Korea, where iPhones acco...
Companies | 2022-08-13 10:32
[Exclusive] KDB accelerates drive to set up new hub in EU
The Korea Development Bank (KDB) has initiated steps to set up a branch in Germany in order to establish a new base within the European Union (EU). The state-run lender has drawn up a task force for the purpose, and dispatched personnel to Frankfurt last month, a senior KDB official said. The task force will take steps to switch the KDB's office there into a branch to conduct...
Companies | 2022-08-12 15:22
China, S. Korea can both benefit from service sector pact: experts
HONG KONG ― Renewed talks between South Korea and China to further open their service sectors could represent a “win-win situation for both economies,” analysts said. The positive outlook came after chief negotiators from the two nations agreed to resume discussions on strengthening cooperation in the opening of services and investment markets at a follow-up negotiation to th...
Economy | 2022-07-30 09:41
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