N. Korea pushes clean energy development to earn currency

[THE INVESTOR] North Korea is pushing to embrace renewable energy such as solar and wind to address the country’s power shortage issues and make profit by selling tradable carbon emissions credits, according to a think tank’s report published on June 28.The country seeks to develop green energy and reduce greenhouse gases by ratifying laws related to environment protection and waste management, the study conducted by Hyundai Research Institute said. Currently, the North Korean government is carr

June 28, 2016

[H2 ECONOMIC POLICY] Gov’t to focus on boosting international trade in H2

[THE INVESTOR] The Korean government will introduce measures to improve trade conditions during the second half of the year, the Ministry of Strategy and Finance said on June 28.The ministry said that the government will actively respond to regional trade pacts such as the Trans-Pacific Partnership, and take steps to maximize the benefits of existing bilateral free trade agreements. The government will also draw up a US$25 billion support package to aid Korean firms win contracts in Iran, and ra

June 28, 2016

[H2 ECONOMIC POLICY] Korea to lure Chinese universities

[THE INVESTOR] Korea will try to attract Chinese universities to establish branches in Incheon and other areas, the Ministry of Strategy and Finance revealed.The measure was included in the economic policies announced on June 28. In addition, the government will increase the number of Korean language exams held in China each year, and roll out other means to lower the barrier for Chinese students coming to Korean universities. At present, Korean language examinations are held twice a year in Chi

June 28, 2016

[H2 ECONOMIC POLICY] South Korea‘s second-half economic policy road map

[THE INVESTOR] The following are some of the key economic policy measures planned for the second half of the year:General economic stimulus - Spend a total of 20 trillion won (US$16.9 billion), including 10 trillion won, in supplementary budget, to maintain the expansionary fiscal mode- Increase financial benefits to facilitate environment-friendly consumption and investment- Minimize the impact of corporate restructuring by supporting jobless workers and offering aid to provinces where companie

June 28, 2016

[H2 ECONOMIC POLICY] President Park urges parliament to pass extra budget plan

[THE INVESTOR] President Park Geun-hye on June 28 urged the National Assembly to pass the government’s plan for an extra budget without delay, stressing it is aimed at supporting workers who could lose their jobs amid the restructuring of ailing shipping and shipbuilding industries.During a meeting with economy-related ministers, she stressed that given South Korea’s strong economic fundamentals and relatively small bilateral trade with Britain, the impact of Brexit would be “limited.”“To suppor

June 28, 2016