In 1985, Daewoo International became the first Korean firm to open a branch office in Myanmar, which was then one of the poorest Southeast Asian countries with little to offer to investors.But it is here that the company now expects to harvest an average pre-tax profit of 300 billion won ($267 million) for the next 25 years, starting from the later half of this year.“Back in the old days, the key role of trading companies was to act as trade broker, connecting local firms to the global market,”

Commissioner explains tax agency’s policy goal to corporate executives

Korea ranked 21st for food security in a global survey of 105 countries, posting a score of 77.8 out of 100, according to the Korea Rural Economic Research Institute on Monday. The index was created by the U.K.-based Economist Intelligence Unit, using data on food affordability, availability, quality and safety of each country surveyed. The U.S. topped the index, securing a score of 89.5, followed by Denmark (88.1) and Norway (88.0). The survey, however, didn’t use food self-sufficiency data to

Financial authorities on Monday started to take preliminary applications for the “National Happiness Fund” recently set up to rescue individual credit defaulters.While the preliminary application process will continue until April 30, the authorities will screen applicants between May and October, said the Financial Services Commission. Eligible applicants should be in arrears for at least 180 weekdays and their debt should not exceed 100 million won ($88,500).Debtors are allowed to submit applic