South Korea’s potential growth rate has declined for decades, reflecting the nation’s aging society, slowing capital accumulation and changing job market, a think tank report showed Wednesday.
Social distancing, minimum wage hike drive small businesses to brink
Posted : 2021-07-17 09:12
Updated : 2021-07-17 09:12
Only three customers dine at a restaurant in Incheon on July 12, the first day of the Level 4 social distancing measures. Yonhap
By Yoon Ja-young
With the COVID-19 pandemic continuing for more than a year now, there seems to be no way out for small business owners. The recent re-imposition of strengthened social distancing measures amid a fourth wave of the pandemic, and the increase in the minimum wage, are adding to their concerns. Most of the evening customers used to come in groups of three or four. I have been maintaining the business thanks to our loyal customers, but I don t think things will be sustainable if the Level 4 distancing measures continue, said Ji who runs a restaurant on Yeouido, Seoul.
MSCI asked to include Korea in developed market index
Posted : 2021-05-05 16:37
By Park Jae-hyuk
Morgan Stanley Capital International (MSCI) received an official request from Korean businesses to upgrade the domestic equity market to developed from emerging in its forthcoming market classification next month.
The Federation of Korean Industries (FKI) said Wednesday it sent a statement to the global index provider a day earlier providing reasons why Korea should be included in the MSCI s developed market index. It emphasized it is inappropriate to maintain Korea as an emerging market, considering the size of the country s economy and its globalized stock market.