The Korea Enterprises Federation announced on March 16 that South Korea came in 15th out of 184 countries in the Heritage Foundation’s Index of Economic Freedom but it recorded a very low score in the category of freedom in the labor market.South Korea’s latest overall score in the annual index is 7
Samsung Display and LG Display are expected to keep ahead of Chinese companies in the global display market by utilizing their technological superiority in the field of flexible OLED display.According to market research firm DSCC, flexible OLED display panels accounted for 59 percent of the mobile O
The Ministry of Trade, Industry and Energy has launched the Green Steel Committee to gear up the domestic steel industry for carbon neutrality.The committee is an industrial-academic-government cooperation scheme to discuss the goal of 2050 carbon neutrality in the steel industry. POSCO chairman Cho
The South Korean government held the sixth Ministerial Meeting for Innovative Growth in Seoul on September 27 and released a set of deregulatory measures.The package includes the opening of duty-free shops in the arrival halls of international airports. As a pilot project, a duty-free shop will open
The National Policy Committee of the National Assembly of South Korea passed a bill on direct bank establishment and management on September 19. The bill is expected to be passed at a plenary session scheduled for September 20, and then President Moon Jae-in’s request for financial innovation based
The South Korean government announced on July 19 that its approval periods applied to new medical devices will be significantly shortened to benefit both their producers and consumers. In addition, the government is going to adopt a negative regulatory approach when it comes to medical devices and t
South Korean biotech and healthcare companies are rapidly expanding their business in Japan. For example, Macrogen recently established Macrogen Japan in Kyoto to provide a genome analysis service in the local market, which is expected to show a rapid growth led by the Japan Agency for Medical Resea
The five major securities companies that have been designated as investment banks will receive a foreign exchange credit line of up to 10 percent of equity capital.This means that they are allowed to provide offshore business loans and payment guarantees like banks, which constitutes the Korean gove
The Incheon Free Economic Zone (IFEZ) was designated as the first free economic zone in Korea in August 2003, and it is scheduled to be completed in 2020. With a population of two billion just a three-hour flight away, the zone is aiming to become the best business city in Northeast Asia.The project
President Park Geun-hye said that excessive regulations in the housing market that were introduced during the bubble stage should be eased to revitalize the market.“The housing market is where the general public can feel the recovery of the national economy first,” she remarked at the secretary meet