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Reporter : Lee Kyung-min
Fri, July 1, 2022 | 02:27
[Contribution] Strong policies help Korea navigate uncertain times
Korea has been recovering well from the pandemic ― a testament to its strong economic fundamentals and appropriate policy responses. Economic output has surpassed pre-crisis levels despite multiple waves of infection. The recovery was supported by the effective containment of the pandemic, including rapid vaccinations last year and pursuing proactive economic policy support, ...
Eximbank, BOK face mounting pressure to move out of Seoul
The Bank of Korea (BOK) and state-run lenders including the Export-Import Bank of Korea (Eximbank) are facing increasing pressure to relocate out of Seoul following legislative moves to transfer them to other cities.
Samsung, Doosan speed up nuclear energy businesses
Samsung Heavy Industries and Doosan Enerbility, the plant building and energy affiliates of Samsung Group and Doosan Group, respectively, are accelerating their nuclear energy businesses, buoyed by President-elect Yoon Suk-yeol's pledge to elevate the much criticized energy source as a new national growth driver, according to industry watchers, Friday.
Kakao Mobility to spend W50 bil. for mutual growth
Kakao Mobility will spend 50 billion won ($41 million) over the next five years to create a healthy mobility market ecosystem, defined by inclusive growth with the service providers - taxi drivers.
President-elect to extend lifespan of 10 nuclear reactors
The incoming Yoon Suk-yeol administration will likely extend the lifespan of 10 aging nuclear reactors to realize the president-elect's campaign pledge to make nuclear power account for up to 35 percent of the country's energy mix, up from the current 29.4 percent, according to the presidential transition committee Wednesday.
China lockdown poses risks to Nongshim, AmorePacific
The recent COVID-19 lockdown in Shanghai has emerged as a possible risk to the distribution networks of Korean firms that operate manufacturing plants in the world's second-largest economy, according to industry watchers Tuesday.
Scandal-ridden KHNP CEO fails to have term extended
Korea Hydro & Nuclear Power Corp. (KHNP) CEO Chung Jae-hoon, the chief architect and enforcer of the nuclear phase-out initiative under the Moon Jae-in administration, failed to secure a term extension, Monday, despite his effort to stay on as the head of the operator of Korea's 21 nuclear power plants, according to market watchers.
Businesses welcome Han's nomination as PM
Businesses are welcoming President-elect Yoon Suk-yeol's decision to nominate former Prime Minister Han Duck-soo to have him serve in the same capacity of prime minister for the Yoon administration, business lobbies said Monday.
Small textile, paper, metal firms to be hit by rate hikes
Key rate hikes by the Bank of Korea will lead to higher insolvency risks for small and medium-sized firms (SMEs) in the textile, paper and metal industries, which rely on clients other than the country's top business conglomerates for 65 percent of their total sales, a state-run think tank said Sunday. SMEs account for about 37 percent of the Korean manufacturing sector's tot...
Samsung owner family is 3 trillion won short in inheritance tax payment
The family of late Samsung Group Chairman Lee Kun-hee is expected to continue selling its shares in the group's affiliates over the next few years to cover a 2.9 trillion won ($2.3 billion) shortfall in inheritance taxes that total around 10 trillion won, according to market watchers.
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