[THE INVESTOR] South Korean presidential office is closely monitoring trade with China for possible economic reprisal from China over the deployment of Terminal High Altitude Area Defense system. Speaking to reporters at the presidential office, chief presidential economic advisor Kang Seok-hoon, said that the government is “closely monitoring the situation” in response to questions regarding possible economic retaliation from China. Since Seoul and Washington announced the decision to deploy TH

[THE INVESTOR] South Korea’s economic growth rate will come in at 2.5 percent this year, at drop further in 2017, a think tank projected on July 12. In its second half outlook report, the LG Economic Research Institute projected a growth of 2.1 percent for the final stretch of the year, bringing the annual average to 2.5 percent. For 2017, LGERI projected a growth rate of 2.3 percent. The government’s economic growth rate projection for 2016 is 2.8 percent. The report forecast that dropping expo

[THE INVESTOR] South Korea’s economic growth rate will drop to about 2.5 percent without supplementary budget, Finance Minister Yoo Il-ho said on July 12.Speaking to the parliamentary Special Committee on Budget and Accounts, Yoo, who doubles as deputy prime minister for economic affairs, said that if the government is not granted the supplementary budget, the country’s growth rate will hover around 2.5 percent.Finance Minister Yoo Il-hoHe said that the ministry will submit the supplementary bud

[THE INVESTOR] South Korean government’s tax revenues for the first five months of the year has increased by 19 trillion won (US$ 16.50 billion) from a year ago, boosted by improvements in consumer spending and the property market. According to data released by the Minister of Strategy and Finance, the government collected 112.7 trillion won in taxes during the first five months of the year. In comparison, the figure for the same period last year was 93.7 trillion won. The Finance Ministry said