[THE INVESTOR] North Korea is pushing to embrace renewable energy such as solar and wind to address the country’s power shortage issues and make profit by selling tradable carbon emissions credits, according to a think tank’s report published on June 28.The country seeks to develop green energy and reduce greenhouse gases by ratifying laws related to environment protection and waste management, the study conducted by Hyundai Research Institute said. Currently, the North Korean government is carr

[THE INVESTOR] The Korean government will introduce measures to improve trade conditions during the second half of the year, the Ministry of Strategy and Finance said on June 28.The ministry said that the government will actively respond to regional trade pacts such as the Trans-Pacific Partnership, and take steps to maximize the benefits of existing bilateral free trade agreements. The government will also draw up a US$25 billion support package to aid Korean firms win contracts in Iran, and ra

[THE INVESTOR] Korea will try to attract Chinese universities to establish branches in Incheon and other areas, the Ministry of Strategy and Finance revealed.The measure was included in the economic policies announced on June 28. In addition, the government will increase the number of Korean language exams held in China each year, and roll out other means to lower the barrier for Chinese students coming to Korean universities. At present, Korean language examinations are held twice a year in Chi

[THE INVESTOR] The following are some of the key economic policy measures planned for the second half of the year:General economic stimulus - Spend a total of 20 trillion won (US$16.9 billion), including 10 trillion won, in supplementary budget, to maintain the expansionary fiscal mode- Increase financial benefits to facilitate environment-friendly consumption and investment- Minimize the impact of corporate restructuring by supporting jobless workers and offering aid to provinces where companie

[THE INVESTOR] President Park Geun-hye on June 28 urged the National Assembly to pass the government’s plan for an extra budget without delay, stressing it is aimed at supporting workers who could lose their jobs amid the restructuring of ailing shipping and shipbuilding industries.During a meeting with economy-related ministers, she stressed that given South Korea’s strong economic fundamentals and relatively small bilateral trade with Britain, the impact of Brexit would be “limited.”“To suppor

[THE INVESTOR] The majority of experts assess the Korean economy to have slipped since last year, and consider China’s slowdown as the most critical factor, a government survey showed on June 28. According to a survey that asked 338 experts, 75.4 percent said that the country’s economy has become worse this year compared to 2015. Regarding the biggest external risk the Korean economy is facing, 46.4 percent chose China’s slowdown, while 35.5 percent said that slowing global trade posed the bigge

[THE INVESTOR] The government will overhaul foreign worker polices by the end of the year to attract highly trained foreign talent, while suppressing the influx of untrained workers, the Ministry of Strategy and Finance said on June 28. As part of the measures, the government plans to introduce a special program exempting visa requirements for highly trained foreign workers. The Ministry of Strategy and FinanceAt present, foreign professional need graduate degrees, or have a bachelor’s degree wi

[INVESTOR] South Korea slashed its 2016 economic growth outlook by 0.3 percentage point to 2.8 percent, joining other private institutions that have already made downward revisions of their own growth estimates.The Finance Minstry’s latest forecast is on par with those made in April by the Bank of Korea, but is slightly higher than the 2.7 percent estimate by the International Monetary Fund.In 2015, the South Korean economy expanded 2.6 percent annually, decelerating from the previous year’s 3.3