The Korea Electric Power Corporation (KEPCO) will sell or transfer its overseas resource development projects to other energy corporations in the public sector. The company has invested 1.6 trillion won (US$1.44 billion) in the projects over the last five years.According to the Ministry of Strategy

A cargo ship that departed from Rajin Port in North Korea with Russian coal as a part of the Rajin-Khasan Project arrived off the shore of Pohang. The bulk carrier, borrowed by Hyundai Merchant Marine, left the North Korean port at 9:30 p.m. on Nov. 27 and arrived at its destination at 6:00 a.m. on

Kyungnam University's Institute for Far Eastern Studies has predicted that North Korea will launch a new economic policy on or around its Workers Party anniversary on October 10, 2015.“Pyongyang is likely to try to address its problems associated with the livelihood of the people in an effort to sol

Russia is making an aggressive proposition to South Korea for capital attraction and joint investment in North Korea.According to the government, Russian Deputy Prime Minister Yuri Trutnev is scheduled to visit Seoul early next month to ask for its investment in the Far East region of Russia and joi

It has been found that Korean consumers pay up to 10 times more expensive prices for the same products than non-Korean consumers do. According to the Seoul Economic Daily, this was confirmed with 35 products in the six categories of food and pharmaceuticals, fashion goods and accessories, consumer e

Women are still quitting their jobs in Korea because of childbirth and childcare, despite many government policies such as free child care to reduce this social phenomenon. In particular, women ending their careers because of child care was most common for women in their 30s, the age of the most act

The Ministry of Trade, Industry and Energy announced on Nov. 25 that it had a high-level meeting for the implementation of the KORUS FTA in Washington D.C. on Nov. 24 (local time), along with an Offshore Processing Zone Committee meeting and a Service & Investment Committee meeting to discuss pendin

Seoul City announced on Nov. 24 that it will launch the world’s first mobile charging service for electric vehicles next month. The service is supplied by Powercube, a Korean company with international patents in this field.The municipal government is going to work with the Ministry of Environment a

Japan is trying hard to keep China in check by means of its alliance with the United States, while South Korea is engaged in a hedging strategy between the U.S. and China to not suffer losses. “It seems that South Korea and Japan are responding in different ways to China’s acts and remarks,” the US-

Korea has become a net international asset country for the first time in history. According to the Bank of Korea’s tentative International Investment Position for September released on Nov. 20, Korea recorded a record-high overseas investment of US$1.0515 trillion as of the end of September, increas

National Pension Service Chairman Choi Kwang said on Nov. 20 that his organization is working to diversify its investment destinations around the world.“The national pension will reach US$1 trillion within 10 years and US$2 trillion within 30 years,” he remarked, adding, “Under the circumstances, we

The Ministry of Strategy and Finance announced on Nov. 20 that 21 countries, including Korea, agreed to finance US$9.4 billion combined at the Green Climate Fund (GCF) Donor Conference held in Berlin, Germany. This means the preparation of the financial resources has been completed four years after

South Korea was chosen as one of three countries with the lowest fertility rates. On the other hand, the contraception penetration rate, life expectancy of women, and enrollment of girls in elementary and middle schools were at fairly high ranks.According to the Korean edition of the UNFPA Report of

The current debt burden on Korean households is heavier than that on American households during the sub-prime mortgage crisis of 2008. In particular, the burden on low-income households has been found to be extreme, with the bottom 20 percent of families paying approximately 70 percent of their inco

The life expectancy of South Koreans has gradually increased to join the middle ranks among OECD nations, but the country still ranks low in preparation for later life.According to the OECD on Nov. 17, Koreans’ average life expectancy was 81.3 years in 2012, ranking 13th among 32 OECD members.Japan

The Fair Trade Commission announced on Nov. 17 that any listed or non-listed subsidiary of a conglomerate in which the owner’s family has at least 20 percent of the shares has to disclose its transactions with the family and other subsidiaries down the road.As a part of the cross shareholding disclo

South Korea's per capita GDP will overtake that of Japan by exceeding US$40,000 in 2019, said a report.According to the report titled “per capita GDP Will Surpass Japan in Five Years” published on Nov. 16 by researcher Kang Jung-gu of the LG Economic Research Institute, this year's difference betwee

Korea and New Zealand have concluded their FTA negotiations. At present, the two countries have finished the drafting of the agreement document and are going to sign it provisionally within this year after legal review. Then, the deal will officially be signed early next year, and become effective t

While the Green Climate Fund (GCF), which was launched in Korea in December last year, is suffering from a shortage of funds, developed countries including the U.S. and Japan express intentions to donate.On Oct. 23 (local time), President Park Geun-hye said that she will support the GCF at the U.N.

It has been found in the Strategy and Finance Ministry’s budget plan for next year that the Ministry has earmarked 8.9993 trillion won (US$8.2055 billion) as the interest to be paid on the Public Capital Management Fund deposit.The amount is equivalent to 4 percent of Korea’s total national tax inco