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News
Lee Meets Uzbek President, Opening Central Asia Summit Diplomacy
3+ hour, 14+ min ago (177+ words) Uzbekistan, Central Asia's Most Populous Emerging Market, to Cooperate on Transport and Infrastructure Thirteen Agreements and MOUs Exchanged Between Government Ministries With Both Leaders Present First Korea-Central Asia Summit on the 16th Targets Supply Chain and Market Diversification President Lee Jae-myung…...
Food and Labor Costs Eat Up 71.6% of Korean Restaurant Sales
4+ hour, 59+ min ago (248+ words) Restaurants in South Korea are keeping less of what they earn, with food and labor costs exceeding 70% of sales for the first time last year. Costs are climbing faster than revenue, squeezing already thin margins across the industry. Food Costs…...
Wrong Tax Choice Can Cost Couples 5.28 Million Won, Korea Tax Agency Says
9+ hour, 7+ min ago (239+ words) Commissioner Lim Kwang-hyun Vows Refunds for Overpaid Property Holding Tax Agency to Compare Benefits of Applying for or Canceling the Exemption Applications and Cancellations Open Sept. 16-30, With Bills Issued in November The National Tax Service said it will seek out…...
Finance Nominee Says Non-Occupancy Alone Isn't Speculation
9+ hour, 40+ min ago (200+ words) Eyes Turn to Further Tax Relief for Non-Occupant Single Homeowners Burden Still Heavy Even With 1.2 Billion Won Deduction Kept Slower Rollback of Long-Term Holding Deduction Also Floated Tax on 3 Billion Won Assessed Value to Rise by 4.29 Million Won How Far…...
Night Work Curbs Will Land on Consumers, Not Just Firms
9+ hour, 51+ min ago (373+ words) Seoul Economic Daily A debate meant to prevent overwork among parcel delivery drivers looks set to change South Korea's nights A revision to the Occupational Safety and Health Act, introduced last month by Rep Park Hong-bae of the Democratic Party…...
Storm Insurance for Small Merchants Collapses as Subsidies Shrink
21+ hour, 2+ min ago (249+ words) Enrollment Rate Fell to 5.1% Last Year Payouts Jumped 67% as Natural Disasters Grew More Frequent "Weak Enrollment Base Calls for Urgent Support System" The drop in enrollment coincides with cuts in premium support from the central and local governments. The subsidy…...
Bundang Apartment Prices Top Nationwide With 29.5% Yearly Gain
1+ day, 3+ hour ago (249+ words) Apartment prices in Bundang, a district of Seongnam in Gyeonggi Province, are climbing sharply. Rising home prices in Seoul, combined with expectations for rebuilding of aging complexes, have driven a string of transactions at prices several hundred million won higher…...
U.S. 'Debt Trap' Sounds Warning for Korea's Fiscal Policy
21+ hour, 35+ min ago (522+ words) By Ahn Do-geol, Lawmaker of the Democratic Party of Korea U.S. Treasurys, the world's safest asset, are wobbling under a "debt trap." U.S. national debt has topped $40 trillion for the first time, and the 30-year Treasury yield recently broke above 5.3%, its highest…...
Tax Agency to Refund Overpaid Property Tax on Jointly Owned Homes
23+ hour, 53+ min ago (265+ words) NTS Chief Says Agency Will Calculate Best Option for Married Couples for First Time This Year Agency Compares Gains From Applying For or Canceling the Special Rule About 5,700 Would Gain by Applying, 2,900 by Canceling Past Overpayments Also to Be Identified…...
Korea's Early-September Exports Hit Record $35 Billion on Chip Surge
3+ day, 5+ hour ago (373+ words) Korea Customs Service Data for Sept. 1-10 July Record Broken in Two Months; Daily Average $4.11 Billion Chips Account for 47.1% of Shipments; Auto Exports Up 10% Exports to U.S. Jump 137.5%; Trade Surplus at $10.4 Billion South Korea's exports in the first 10 days of September surged…...