The South Korean government seeks to boost the services sector through tax breaks in an effort to increase jobs amid high youth unemployment.The Finance Ministry said Tuesday that it seeks to create 250,000 jobs through such fiscal measures aimed at increasing productivity in the services industry. The government aims to uplift the value of its services sector on par with the average of the Organization for Economic Cooperation and Development in five years. This is also in line with efforts to

July 5, 2016

[THE INVESTOR] Canon, Sony and Nikon may spring to mind when people think of consumer digital camera brands, while Arri and Panavision would be the most sought-after motion picture cameras for filmmakers.In the world of high tech industries such as health care, displays and semiconductors, a highly sophisticated camera is needed to spot the tiniest flaws in assembly lines or spot health irregularities inside human bodies.This is where Vieworks comes in to lend a hand through its digital imaging

July 4, 2016

Canon, Sony and Nikon may spring to mind when people think of consumer digital camera brands, while Arri and Panavision would be the most sought-after motion picture cameras for filmmakers.In the world of high tech industries such as health care, displays and semiconductors, a highly sophisticated camera is needed to spot the tiniest flaws in assembly lines or spot health irregularities inside human bodies. High-performance industrial cameras by Vieworks.(Vieworks)This is where Vieworks comes in

July 4, 2016

[THE INVESTOR] South Korea will seek to boost debt issues of small and medium-sized enterprises with credit ratings of below “A” through increased investor protection and opening up new channels for debt financing, the top financial regulator said July 1.This comes as investors are becoming more risk-averse, investing only in high-grade bonds issued by Korean conglomerates amid decreasing market confidence and a global slowdown.With its measures, the Financial Services Commission seeks to reinvi

July 1, 2016

South Korea will seek to boost debt issues of small and medium-sized enterprises with credit ratings of below “A” through increased investor protection and opening up new channels for debt financing, the Financial Services Commission said Friday.This comes as investors are becoming more risk-averse, investing only in high-grade bonds issued by Korean conglomerates amid decreasing market confidence and a global slowdown.With its measures, the FSC seeks to reinvigorate debt financing of small busi

July 1, 2016

The South Korean government will designate shipbuilding as a sector that needs “special state assistance” with the Finance Ministry and Labor Ministry providing aid to employees facing job losses due to debt restructuring.Finance Minister Yoo Il-ho said Thursday that the government will seek to provide financial relief to those who lose their jobs in the wake of corporate restructuring, and help them receive proper training and education so they can find new jobs. Finance Minister Yoo Il-ho (Yon

June 30, 2016

[THE INVESTOR] The South Korean government will designate shipbuilding as a sector that needs “special state assistance” with the Finance Ministry and Labor Ministry providing aid to employees facing job losses due to debt restructuring.Finance Minister Yoo Il-ho said Thursday that the government will seek to provide financial relief to those who lose their jobs in the wake of corporate restructuring, and help them receive proper training and education so they can find new jobs.The three shippin

June 30, 2016

The South Korean government will designate shipbuilding as a sector that needs “special state assistance” with the Finance Ministry and Labor Ministry providing aid to employees facing job losses due to debt restructuring.Finance Minister Yoo Il-ho said Thursday that the government will seek to provide financial relief to those who lose their jobs in the wake of corporate restructuring, and help them receive proper training and education so they can find new jobs.Shipbuilding employees in region

June 30, 2016

[THE INVESTOR] Seoul stocks ended higher Wednesday as foreign investors returned to their buying mode with concerns over Brexit easing amid expansionary measures worldwide.The benchmark KOSPI and the Korean currency gained along with the British pound after days of volatility since the U.K.’s vote to leave the European Union, as the market worldwide sees Brexit more as a political crisis than a financial crisis.The benchmark equity index closed at 1956.36 up 1.04 percent on Wednesday, with the w

June 29, 2016

Seoul stocks ended higher Wednesday as foreign investors returned to their buying mode with concerns over Brexit easing amid expansionary measures worldwide.The benchmark KOSPI and the Korean currency gained along with the British pound after days of volatility since the U.K.’s vote to leave the European Union, as the market worldwide sees Brexit more as a political crisis than a financial crisis. (Yonhap)The benchmark equity index closed at 1956.36 up 1.04 percent on Wednesday, with the won-dol

June 29, 2016

Growth forecast drops to 2.8 percent this year, despite expansionary policiesInvestor confidence was restored Tuesday with the market responding positively to the South Korean government’s plan for extra spending in the second half of this year to cushion the economy from internal and external shocks.Economic policymakers attend a news conference to announce the government's policy direction for the seond half of this year in Seoul on Tuesday. (Yonhap)The benchmark KOSPI edged up 0.49 percent at

June 28, 2016

Investor confidence was restored Tuesday with the market responding positively to the South Korean government’s plan for extra spending in the second half of this year to cushion the economy from internal and external shocks.The benchmark KOSPI edged up 0.49 percent at 1,936.22 on continued institutional buying, after opening with a loss following overnight selloffs on Wall Street. (Yonhap)But the Seoul equity index soon headed for an upswing as the Finance Ministry announced that it will aggres

June 28, 2016

[THE INVESTOR] Investor confidence was restored on June 28 with the market responding positively to the South Korean government’s plan for extra spending in the second half of this year to cushion the economy from internal and external shocks.The benchmark KOSPI edged up 0.49 percent at 1,936.22 on continued institutional buying, after opening with a loss following overnight selloffs on Wall Street. But the Seoul equity index soon headed for an upswing as the Finance Ministry announced that it w

June 28, 2016

[THE INVESTOR] The Korean financial market remained volatile on June 27 following the UK’s vote to leave the European Union last week, with the equity market opening with a loss on weakened sentiment.Brexit is expected to have a long-lasting impact on the global economy with Korean exports to the EU forecast to slow in the coming years, further weighing down investor confidence, hence, Korean President Park Geun-hye has called on her senior secretaries and financial authorities to increase monit

June 27, 2016

The British pound has fallen, along with the euro, Chinese yuan and, not to mention, the Korean won, while the dollar and Japanese yen strengthened following the U.K.’s vote to leave the European Union.The won-dollar exchange opened with a decrease of 0.2 won at 1,150 won last Friday, but weakened almost 30 won, closing at 1,179.9 won as the British voted in favor of exiting the EU, while the KOSPI lost more than 3 percent.Analysts forecast the won-dollar exchange to touch as high as 1,200 to 1,

June 26, 2016

The “Leave” outcome in the U.K. is expected to further overshadow the prospects of the Korean economy, which is already facing a slew of negative outlooks on employment, inflation and exports, analysts say.An exit from the European Union is likely to slow Korean exports to its free trading partner, as Korea and the U.K., as well as the EU, will have to renegotiate the terms of their trade pacts and tariffs separately, now that the world’s fifth-largest economy will have to start talks with the U

June 26, 2016

[THE INVESTOR] The British pound has fallen, along with the euro, Chinese yuan and not to mention the Korean won, while the dollar and Japanese yen strengthened following the U.K.’s vote to leave the European Union.The won-dollar exchange opened with a decrease of 0.2 won at 1,150 won last Friday, but climbed almost 30 won closing at 1,179.9 won as the British voted in favor of exiting the Union, while the KOSPI lost more than 3 percent.Analysts forecast the won-dollar exchange to touch as high

June 26, 2016

[THE INVESTOR] The “Leave” outcome in the U.K. is expected to further overshadow the prospects of the Korean economy, which is already faced with a slew of negative outlooks on employment, inflation and exports, analysts say.An exit from the European Union is likely to slow Korean exports to its free trading partner, as Korea and the U.K., as well as the EU, will have to renegotiate the terms of their trade pacts and tariffs separately, now that the world’s fifth-largest economy will have to sta

June 26, 2016

[THE INVESTOR] South Korea's Export-Import Bank unveiled a road map for overhaul on June 23, the same day Korea Development Bank released its own self-refom measures. Eximbank's plans include streamlining of the organization, cost cutting and asset sales to improve finances.The policy bank will pursue changes in its organization to be much more efficient yet competitive in the face of macroeconomic difficulties.  Export-Import Bank of Korea.This “innovation plan” comes as the country is facing s

June 23, 2016

[THE INVESTOR] Korea Development Bank, a state policy bank under fire for mismanagement of bailed-out companies, said on June 23 it would exit from its ownership of 46 companies this year, raising the count by 10 from its earlier plan. “From 2016 to 2018, we’ll be exiting from our investments in 132 nonfinancial companies,” the Seoul-based bank said in a statement. After the planned 46 sales this year, the auction process will begin for 44 companies in 2017 and for another 42 in 2018.  KDB chair

June 23, 2016