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S. Korea eyes extra budget of less than 7 tln won: finance minister

S. Korea eyes extra budget of less than 7 tln won: finance minister

South Korea’s finance minister said Wednesday he expects to introduce a supplementary budget worth less than 7 trillion won (US$6.1 billion) to boost domestic demand and create jobs. Finance Minister Hong Nam-ki told reporters that the size of the extra budget has not been confirmed yet, but he expects that the size “would not exceed […]

IMF team voices concerns about pace of S. Korea’s minimum wage hikes

IMF team voices concerns about pace of S. Korea’s minimum wage hikes

A team from the International Monetary Fund (IMF) on Monday expressed concerns over the pace of minimum wage hikes in South Korea, the Ministry of Economy and Finance said. The delegation led by Tarhan Feyzioglu, Korea mission chief at the IMF, shared the concerns in a meeting with Finance Minister Hong Nam-ki as part of […]

“Young, old generations do not understand each other”

“Young, old generations do not understand each other”

Complaints and conflicts are piling up between the young and old as Korea is rapidly becoming an aging society, which leaves the young working class with a heavier economic burden to take care of elderly citizens.  “The rapidly ageing population and low birthrate have put our society at risk, inevitably landing the younger generations a […]

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