The Korean government needs to ease regulations to reinvigorate the startup ecosystem, startup promotion organizations said in a policy recommendation report released on Aug. 20The report says that while Korea’s startup investment environment has improved significantly, high regulatory barriers impe

Major South Korean companies’ sales and operating profits for next year are forecast to decrease 2.8 percent and 1.9 percent due to Japan’s export curbs, respectively. Especially, general machinery manufacturers’ sales are estimated to fall more than 10 percent and petroleum product and semiconducto

While six months have passed since an agreement was reached to extend the unit period of the flexible working hour system, the related bill had not passed the National Assembly, putting companies on edge.Samsung Electronics Service Co. had to use 500 technical instructors for air conditioner repairs

South Korea’s household debt extended by deposit banks and non-banking savings institutions increased 15.40 trillion won (US$12.73 billion) in the second quarter of this year from a year earlier. The balance of household debt is estimated at more than 1,467.30 trillion won (US$1.21 trillion) as of t

The South Korean government excluded Japan from its trade whitelist on Aug. 12 and limited knowledge and technology exchanges with Japan at the same time. This means case-by-case screening is now a must for exports of technologies and techniques that can be used for military purposes and joint resea

Mass rallies in Hong Kong are adding to the uncertainties of the South Korean economy along with the ongoing trade disputes between the United States and China and Japan's economic retaliation against South Korea. The rallies are being mentioned as a potential factor that can lead to an all-out

The World Trade Organization (WTO) said on Aug. 18 that South Korea and Japan have been engaged in six WTO disputes and dispute settlement procedures are underway for half of them after Japan took legal proceedings. The WTO added that South Korea won the three finished cases.Back in June 2016, Japan

The Ministry of Science and ICT entrusted a project to the Korea Legislation Research Institute with regard to the current status of digital taxes such as the so-called YouTube tax and whether the taxes are applicable to the South Korean market. The South Korean government is planning to compel over

Free trade agreements between South Korea and five Central American countries take effect one after another starting from Oct. 1 this year.The Ministry of Trade, Industry and Energy of South Korea announced on Aug. 13 that South Korea’s domestic procedures for the implementation of the FTAs were com

South Korea’s credit default swap (CDS) premium is rising again amid the ongoing trade disputes between the United States and China and between South Korea and Japan. Although it is not at a critical level yet, South Korea’s sovereign default risk may rise in the second half if the disputes continue

The Associated Press said based on a report from the U.N. Security Council Sanctions Committee on North Korea that North Korea had carried out at least 35 hacking attacks against 17 countries from December 2015 to May this year to take approximately US$2 billion, those cyber hacking attacks include

Liberty Korea Party leader Hwang Kyo-ahn said on Aug. 12 that the South Korean government has to take an effective measure to provide against North Korea’s nuclear weapons. The measure he implied is nuclear armament. With the North having launched a series of missiles, the party is advocating redepl

South Korea has dropped Japan from its list of preferred trading partners on Aug. 12 in response to Tokyo’s recent decision to exclude Seoul from its trade whitelist.In this regard, critics pointed out that the South Korean government should first seek to find a diplomatic solution through communica

The Ministry of Trade, Industry and Energy of South Korea revised its export and import licensing system on Aug. 12, excluding Japan from its trade white list 10 days after Japan took the same measure against South Korea.According to the revised rules, simplified export procedures are no longer appl

The Mainichi Shimbun reported on Aug. 9 that the Japanese government permitted the export of photoresists to South Korea in about one month after its export restrictions targeting South Korea and the permission implies that the government admitted its miscalculation about the possible repercussions

South Korea and the Philippines initiate their third round of FTA negotiations in Busan City on Aug. 12.The Ministry of Trade, Industry and Energy of South Korea announced on Aug. 11 that the negotiations, which will continue for three days, will cover goods and services, investment, economic and te

International credit rating agency Fitch Ratings maintained South Korea’s sovereign credit rating at "AA-" with a stable rating outlook on Aug. 9.“South Korea’s robust fiscal conditions, stable macroeconomic performance and sound fiscal management are more than offsetting mid-term structural challen

The Japanese government has issued an export permit regarding semiconductor material shipment to Samsung Electronics in about one month after the implementation of its export restrictions targeting the three semiconductor materials of hydrogen fluoride, photoresist and fluorine polyimide.The export

Marc Knapper, Acting Deputy Assistant Secretary of State for Japan and Korea, remarked on Aug. 7 that the United States will remain involved in the ongoing trade disputes between South Korea and Japan and it is prepared to promote dialogues between the two countries. He also mentioned that some soul

South Korea's fiscal soundness is rapidly deteriorating, with the government's budget balance suffering a record deficit in the first half of this year. The ballooning deficit was the result of the government's expanded spending on various welfare policies despite a slowdown in tax reven