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[ANALYSIS] Discussion on greater support for SMEs deepens fiscal woes

[ANALYSIS] Discussion on greater support for SMEs deepens fiscal woes
Posted : 2021-05-16 16:06
By Lee Kyung-min
Korea s fiscal soundness is expected to deteriorate further, following a legislative move seeking greater financial assistance for small- and medium-sized enterprises (SMEs) and across-the-board one-day paid leave for people receiving vaccinations against COVID-19.
The Ministry of Economy and Finance says trillions of won needed for each scheme will lead to a significant increase in the country s debt, already on a steep rise over the past year amid expansionary fiscal policies maintained to weather the global health crisis.
Another round of debt financing ― the government s issuing of bonds to raise money ― will hike the country s debt-to-GDP ratio to an all-time high of nearly 50 percent this year and further to 60 percent in 2024, putting Korea s long-established track record of fiscal discipline to the test. ....

Soult Ukpyolsi , South Korea , National Assembly Health , Ministry Of Economy , National Assembly , Welfare Committee , Seoul National University , Democratic Party Of Korea , Startups Committee , Korea Development Institute , National Assembly Trade , Democratic Party , President Moon Jae In , National University , Kim So Young , தெற்கு கொரியா , தேசிய சட்டசபை ஆரோக்கியம் , அமைச்சகம் ஆஃப் பொருளாதாரம் , தேசிய சட்டசபை , நலன்புரி குழு , சியோல் தேசிய பல்கலைக்கழகம் , ஜனநாயக கட்சி ஆஃப் கொரியா , தொடக்கங்கள் குழு , கொரியா வளர்ச்சி நிறுவனம் , தேசிய சட்டசபை வர்த்தகம் , ஜனநாயக கட்சி ,

South Korea's Kangwon Land appoints new CEO

South Korea's Kangwon Land appoints new CEO
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Soult Ukpyolsi , South Korea , Kangwon Do , Ministry Of Knowledge Economy , Startups Committee Of The National Assembly , Kangwon Land Inc , Ministry Of Public Administration , Vice Minister , Public Administration , Lee Sam Geol , Kangwon Land , Moon Tae Gon , North Gyeongsang Province , Startups Committee , National Assembly , தெற்கு கொரியா , அமைச்சகம் ஆஃப் அறிவு பொருளாதாரம் , துணை அமைச்சர் , நிலா டே கோன் , தொடக்கங்கள் குழு , தேசிய சட்டசபை ,

Possible higher tax bill for Kangwon Land Casino

February 24, 2021
In South Korea and an influential committee of the county’s National Assembly has reportedly recommended a legislative revision that could see Kangwon Land Casino obliged to pay a higher rate of tax in exchange for a 20-year extension to its license.
According to a report from Inside Asian Gaming, the Trade, Industry, Energy, SMEs and Startups Committee endorsed an amendment to the nation’s Special Act on the Assistance to the Development of Abandoned Mine Areas yesterday that would require the venue to hand over 13% of its gross gaming revenues in preference to the 25% of profit before tax it is currently compelled to surrender. The source detailed that this change would subsequently be sweetened by extending the rural property’s casino license, which is set to expire in about three years’ time, until the end of 2043. ....

Kangwon Do , South Korea , Jp Morgan , National Assembly , Startups Committee , Development Of Abandoned Mine Areas , Kangwon Land Incorporated , Kangwon Land Casino , Inside Asian Gaming , Special Act , Abandoned Mine Areas , Gangwon Province , தெற்கு கொரியா , ஜ்ப் மோர்கன் , தேசிய சட்டசபை , தொடக்கங்கள் குழு , வளர்ச்சி ஆஃப் கைவிடப்பட்ட என்னுடையது பகுதிகள் , உள்ளே ஆசிய கேமிங் , சிறப்பு நாடகம் , கைவிடப்பட்ட என்னுடையது பகுதிகள் , கேங்வோன் மாகாணம் ,

Korea baffled by continued brain drain

Korea baffled by continued brain drain
Posted : 2021-02-21 16:24
Updated : 2021-02-21 16:52
Rep. Lee Joo-hwan of People Power Party speaks during the government audit of the trade and SMEs ministry at the National Assembly, Oct. 7. Yonhap
By Lee Kyung-min
The decrease in highly educated foreign talent in Korea continues to far outpace the number of their Korean counterparts leaving for advanced countries, fanning concerns that the Asia s fourth-largest economy is increasingly being shunned by the competent workforce crucial to bolster national and corporate competitiveness.
The brain drain that is pronounced in the science and information technology (IT) sectors will only accelerate since no immediate improvement is expected concerning administrative inefficiencies defined by time-consuming paperwork compounded by low salaries and poor job security. ....

South Korea , Korea Institute Of Science Technology Evaluation , Startups Committee , National Assembly , People Power Party , Investment Promotion Agency , Korea Economic Research Institute , Ministry Of Science , Lee Joo Hwan , Korea Trade Investment Promotion Agency , Korea Institute , Technology Evaluation , Fourth Industrial Revolution , National Assembly Trade , Brain Drain , தெற்கு கொரியா , கொரியா நிறுவனம் ஆஃப் அறிவியல் தொழில்நுட்பம் மதிப்பீடு , தொடக்கங்கள் குழு , தேசிய சட்டசபை , மக்கள் பவர் கட்சி , கொரியா பொருளாதார ஆராய்ச்சி நிறுவனம் , அமைச்சகம் ஆஃப் அறிவியல் , லீ ஜூ ஹ்வ்யாந் , கொரியா நிறுவனம் , தொழில்நுட்பம் மதிப்பீடு , நான்காவது தொழில்துறை புரட்சி ,

Korean firms' RE100 adrift amid KEPCO's power monopoly

Korean firms RE100 adrift amid KEPCO s power monopoly
Posted : 2020-12-14 16:22
By Nam Hyun-woo
Korean firms plans to join the RE100 campaign, meaning running their companies on 100 percent renewable energy, have been stalled as politicians have failed to make progress on introducing rules ending the state-run Korea Electric Power Corp. s (KEPCO) monopoly over domestic power distribution.
Vendors and suppliers to global companies are facing growing demand to join the RE100 campaign, but their efforts are not picking up speed due to difficulties in securing electricity generated only from renewable sources because KEPCO collects electricity generated by its subsidiaries and independent power companies, and sells it as a single source. ....

South Korea , Lee Chul Gyu , Korea Electric Power Corp , Samsung Electronics Executive Vice , Korea Power Exchange , National Assembly , During The National Assembly , Climate Group , Democratic Party Of Korea , Startups Committee , People Power Party , Samsung Electronics , China Jiangsu Runfeng New Energy , Korea Electric Power , Electric Utility Act , Kim Sung Whan , Democratic Party , Assembly Trade , Lee Joo Hwan , Jiangsu Runfeng New Energy , தெற்கு கொரியா , லீ சுல் க்யூ , கொரியா மின்சார பவர் கார்ப் , சாம்சங் மின்னணுவியல் நிர்வாகி துணை , கொரியா பவர் பரிமாற்றம் , தேசிய சட்டசபை ,