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Monday, January 22, 2018

National

Minister of Employment & Labor Kim Young-joo at a meeting on September 25.
Too Much Favor for Labor
26 September 2017 - 11:30am
The Ministry of Employment & Labor officially discarded the previous administration’s labor reform policy allowing low-performing workers to be fired and allowing rules of employment to be...
The number of import regulations targeting South Korean products is increasing this year.
Import Regulations
26 September 2017 - 11:30am
According to the Korea International Trade Association, the number of import regulations targeting South Korean products is increasing this year as it did last year and the number is showing a...
A total of 1.31 trillion won (US$1.15 billion) of penalty taxes were collected from offshore tax evasion last year.
Amounting to 1.31 Trillion Won
25 September 2017 - 12:00pm
The National Tax Service (NTS) of South Korea collected the highest taxes from offshore tax evasion using tax haven last year. According to the data from Congressman Park Myung-jae of the National...
The second special session of the KORUS FTA Joint Committee will take place in Washington D.C. on October 4 (local time).
Next FTA Special Session
25 September 2017 - 11:45am
The Ministry of Trade, Industry & Energy announced on September 23 that the second special session of the KORUS FTA Joint Committee takes place in Washington D.C. on October 4 (local time)....
Korean Prime Minister Lee Nak-yeon (8th from in the front row) is holding hands with participants of the 7th ASEM Economic Ministers' Meeting in COEX, Gangnam-gu, Seoul on September 22.
Same Voice against Protectionism
24 September 2017 - 6:15pm
Asian and European economic ministers resolved to jointly respond to growing global protectionism. The Ministry of Trade, Industry and Energy announced that representatives of 51 member countries...
Baek Woon-kyu, Minister of Trade, Industry & Energy, met with semiconductor and display sector experts in Seoul on September 18.
Stronger Restriction Expected
20 September 2017 - 11:00am
The Ministry of Trade, Industry & Energy of South Korea organized a special committee in order to discuss whether to allow LG Display to build an OLED manufacturing plant in Guangzhou, China. At...
The excessive dependence on China boomeranged against South Korean companies when the THAAD Incident broke out.
Exodus from China
20 September 2017 - 11:00am
South Korean companies are withdrawing from China once regarded as the second domestic market in droves. Since the 2000s, South Korean companies have made inroads into China with a huge domestic...
Korea’s direct investment in China totaled US$1.75 billion, down 43.7% from a year ago, for the first seven months of this year.
Investment in China
18 September 2017 - 10:45am
The Bank of Korea announced on September 17 that South Korea’s direct investment in China totaled US$1.75 billion, down 43.7% from a year ago, for the first seven months of this year. During the same...
Toxic substances, such as preservative and disinfectants, had been found in foods imported from China.
Chinese Harmful Food
15 September 2017 - 3:00pm
Toxic substances, such as preservative and disinfectants, had been found in foods imported from China. According to the Ministry of Food and Drug Safety (MFDS) on September 13, six cases of kimchi...
U.S. President Donald Trump is reportedly mulling over sanctions against Chinese companies selling oil to North Korea.
Expanded Sanctions
15 September 2017 - 11:15am
The Yomiuri Shimbun reported, on September 14, that U.S. President Donald Trump is mulling over sanctions against Chinese companies selling oil to North Korea. According to the report, the unilateral...
President Moon Jae-in proposed the construction of a power grid covering South Korea and Japan to Japanese Prime Minister Shinzo Abe in Vladivostok, Russia on September 7. (photo courtesy: Cheong Wa Dae)
Cross-border Power Grid Integration
14 September 2017 - 12:15pm
A high-ranking South Korean government official said on September 13 that President Moon Jae-in proposed the construction of a power grid covering South Korea and Japan to Japanese Prime Minister...
The South Korean government has decided to bring the China’s retaliatory measures over the deployment of the U.S. Terminal High Altitude Area Defense (THAAD) missile system in South Korea in the World Trade Organization (WTO) to be held next month.
Appealing to WTO
13 September 2017 - 5:00pm
The South Korean government has decided to strongly urge the Chinese government to drop its retaliatory measures over the deployment of the U.S. Terminal High Altitude Area Defense (THAAD) missile...

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