FINANCE MINISTRY OF S. KOREA TO REMOVE TARIFF ON FEW IMPORTED GRAINS

Highlights –

• Finance Ministry of S. Korea to remove tariff on few imported grains.
• S. Korea will import edible corm and some grains without tariff until the end of the year.
• The country currently levies a 3 percent tariff duty on impo...

LAND MINISTER LIKELY TO STEP DOWN OVER LH EMPLOYEES LAND PURCHASES

Highlights –

• Land Minister likely to step down over LH Employees land purchases.
• The land minister is said to come up with measures to prevent employees with speculative land purchases.
• LH employees bought lands in two cities that hav...

S. KOREAN GOVT. ANNOUNCES TO MAKE EFFORTS TO CREATE MORE JOBS BY 2025

Highlights –

• S. Korean govt. announces to make efforts to create more jobs by 2025.
• The country’s finance minister Hong Nam Ki revealed a road map on developing the service industry.
• The ministry plans to resume the distribution...

S. KOREAN FINANCE MINISTRY LIKELY TO SUBMIT EXTRA BUDGET PROSPOSAL

Highlights –

• S. Korean finance ministry likely to submit an extra budget proposal.
• Finance Minister Hong Nam Ki has instructed officials to do the same by next week.
• The govt. and the ruling Democratic Party may surpass the budget by ...

S. KOREAN GOVT. LIKELY TO EXPAND EMERGENCY RELIEF FUNDS FOR THE 4TH TIME

Highlights –

• S. Korean govt. likely to expand emergency relief funds for the 4th time.
• The emergency relief funds would include merchants whose yearly sales are more than $364,000.
• The country’s ruling Democratic Party (DP) and ...

S. KOREA FINANCE MINISTER ANNOUNCES PUBLIC INSTITUTIONS TO HIRE MORE NEW EMPLOYEES

Highlights –

• S. Korea Finance Minister announces public institutions to hire more new employees.
• The country’s public institutions in 2021 plan to hire more than 26,000 new employees.
• The minister said that the public sector wil...

SOUTH KOREA GOVT. PLANS TO PROVIDE EMERGENCY HANDOUTS TO SMALL BUSINESS OWNERS

Highlights –

• South Korea govt. plans to provide emergency handouts to small business owners.
• The government plans to do so by early February, around the Lunar New Year holiday.
• The government will provide US$8.6 billion in relief fund...

SOUTH KOREAN GOVERNMENT AIDS VARIOUS BUSINESS ACTIVITIES AMID COVID-19 OUTBREAK

Highlights –

• Emergency funds for various business activities
• Low interest rate on loans
• No layoffs of staff, rather to be subsidized

Due to the ongoing spread of COVID-19 and business activities facing a steep loss, ...