[THE INVESTOR] The government will issue 1 trillion won (US$ 871.5 billion) in Treasury bills, the Ministry of Strategy and Finance announced on July 11. The T-bills will be issued in two equal batches on July 20 and July 27. Including the bills that will be issued later this month, the value of outstanding T-bills will stand at 4 trillion won. By Choi He-suk (cheesuk@heraldcorp.com)

[THE INVESTOR] South Korea’s July exports so far have plunged 21.6 percent from a year ago, fueling worries that exports will continue to spiral in the second half of the year. According to the Korea Customs Service, exports between July 1 and July 10 came in at about US$ 10.35 billion, down 21.6 percent compared to the same period last year. From Jan. 1 to July 10, the country’s exports dropped 10.5 percent from a year ago to come in at US$ 252.1 billion. Until June, South Korea’s monthly expor

A growing number of salaried workers are making extra money from means other than their main jobs, subjecting them to higher state health insurance payments, statistics from health authorities showed Monday.According to the statistics, 39,143 workers were ordered to pay more insurance money in 2015 because of the income they gained from business operations, dividends, leases and other non-job sources, numbers provided by the Ministry of Health and Welfare and the National Health Insurance Servic

South Korea's central bank is forecast to keep its key rate frozen in July, one month after sending it to a record low level to bolster growth in Asia's fourth-largest economy, a poll showed Monday.In a survey conducted by Yonhap Infomax, the financial news arm of Yonhap News Agency, all 12 economists polled predicted the Bank of Korea to assume a wait-and-see mode, partly to gauge the effect of its latest rate cut but also because of growing household debt."The central bank will likely wait to

The parliament agrees with the government that the current income tax exemptions need to be overhauled to create a stronger tax base, a report said Monday.The report by the National Assembly's committee on budget and accounts assessing the 2015 fiscal year noted how the proportion of non-taxpayers was increasing from broadened exemptions over the past years. According to the report, 48 percent of income earners did not pay taxes in 2015, about the same as the previous year.The non-tax paying pop

Stock assets owned by Samsung Electronics vice chairman Lee Jae-yong suffered the biggest decline among the country’s 50 richest people this year, according to Seoul-based corporate tracker Chaebul.com.Lee‘s stock assets were worth 6.39 trillion won as of this month, down about 20 percent from 7.61 trillion won in January. The sluggish performance of major Samsung affiliates was the primary cause of the fall. The stock assets of Lee’s two sisters -- Boo-jin, CEO of Hotel Shilla and Seo-hyeon, CE

The wealth of Korea's 50 richest people by stock assets fell sharply this year, mostly led by the three children of Samsung Group Chairman Lee Kun-hee due to the slumping equity of major affiliates, industry data showed Saturday. The combined equity value of the 50 wealthiest people was tallied at 151.43 trillion won (US$130.88 billion) as of Friday, wiping out 2.65 trillion won from Jan. 4, according to the data compiled by Seoul-based corporate tracker Chaebul.com.Lee Jae-yong, the vice chairm

Korean stocks are expected to remain in a tight range, though they may see upward movement on eased woes from Europe, local analysts said Saturday.The benchmark Korea Composite Stock Price Index  closed at 1,963.10 on Friday, down 1.2 percent from a week earlier.The index took off on an upbeat note at the start of the week after recovering from a near crash sparked by Britain's vote to leave the European Union in the previous week.Profit-taking behaviors later faced downward pressure, prompting

[THE INVESTOR] South Korea will prepare for the possible impact of UK’s departure from the European Union through stronger international cooperation and stable management of foreign reserves, Finance Minister Yoo Il-ho said on July 8.Speaking at a meeting of economy-related ministers in Seoul, Yoo, who also doubles as deputy prime minister for economic affairs, said that the government will maintain healthy foreign reserves, saying that it was the “last bastion” for Korean economy.Finance Minist

[THE INVESTOR] South Korea will review opening free trade agreement negotiations with the UK, and to work with the European Union to minimize the impact of Brexit, should the decision be finalized. These and other measures for responding to the fallout from UK’s June 24 referendum were discussed at the meeting of economy-related ministers held on July 8. Pixabay.comAt the meeting, the attending ministers said that the impact of the UK leaving the EU will be analyzed and that the government will

[THE INVESTOR] South Korean economy continues to be plagued by a sluggish labor market despite improving domestic spending, the Ministry of Strategy and Finance said in a report on July 8.According to the report, consumer spending is on the rise, but the rate at which employment is rising has dropped and industrial output has yet to recover fully.  Job fair sponsored by a South Korean companayThe ministry also said that UK’s departure from the European Union and other domestic and international

The South Korean economy continues to be on a downward slope due to a slump in exports and industrial production despite an apparent uptick in private consumption, a government report showed Friday."Consumption is showing some signs of recovery, but the production side has remained in the doldrums, with a slowdown in employment," the finance ministry said in its monthly economy assessment report called the "Green Book."The report is based on the latest economic indicators of such key factors as

The number of people paying the maximum for state-run health insurance, about 2.3 million won (1,990) a month, is increasing each year, health authorities said Friday, a sign that the number of rich people in South Korea is rising. Records from the Ministry of Health and Welfare and the National Health Insurance Service showed the number of the employed paying the maximum totaled 3,130 as of April, up from 2,508 in 2012. The number for the unemployed increased to 577 from 359.The employed group

For the second consecutive year, college graduates who are seeking jobs have picked the nation’s Internet portal giant Naver as the employer they most want to work for, according to a survey by Internet recruiting service Incruit on Thursday.Naver was followed by food giant CJ Cheiljedang, cosmetics maker AmorePacific and Samsung Electronics.Incruit officials said respondents seem to think that when it comes to job seeking, a company’s vision and job stability are more important than high wages.

[THE INVESTOR] South Korea’s growing underground economy may pose vulnerability to terrorism financing, according to experts. “The size of the Korea’s underground economy is large, about 30 percent of the total gross domestic product,” Kang Kyung-hoon, a professor at Dongguk University, said at a public hearing on the danger of money laundering in Korea, hosted by the Korea Institute of Finance on July 7.  “Terrorism funds have been rarely generated (in Korea), but the danger still persists.”The