Tag: Ministry of Economy and Finance

Ministry of Economy and Finance

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Finance Ministry, BOK vow to respond to won's volatility in rare joint statement

Strong verbal response comes after dollar-won exchange rate surges past 1,550 for the first time since 2008.

2026.6.8

The Ministry of Economy and Finance office inside the government complex in Sejong is seen on Jan. 6. [YONHAP]

Gov't to tighten monitoring of tariff-rate quota to prevent abuse by importers

The government on Wednesday announced plans to strengthen monitoring, including imposing additional duties on violators, to prevent importers from exploiting the country's tariff-rate quota system.

2026.3.18

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Gov't to provide temporary tax benefits to investors investing back home

The government will introduce a temporary tax incentive for retail investors who sell overseas stocks this year and reinvest the proceeds in domestic assets, the Ministry of Economy and Finance said Tuesday.

2026.1.20

Undisbursed defense budget for 2025 to be executed this week: Ministry

The Ministry of Economy and Finance said Tuesday that portions of last year's defense budget that were not disbursed by the end of 2025 will be executed as swiftly as possible.

2026.1.6

Ministry of Economy and Finance's headquarters in the central administrative city of Sejong [MINISTRY OF ECONOMY AND FINANCE]

Tax revenue rises $26.3 billion through November on improved corporate earnings

Korea's tax revenue increased by 37.9 trillion won ($26.3 billion) from a year earlier during the first 11 months of this year on improved corporate earnings and rising income tax, data showed on Wednesday.

2025.12.31

A sign indicating the Ministry of Economy and Finance's offices in the government complex in Sejong is seen in this file photo. [MINISTRY OF ECONOMY AND FINANCE]

Critics worry split could leave Finance Ministry 'just a tax agency'

The National Assembly passed a revision to a law on Friday that will split the Ministry of Economy and Finance into two separate entities, weakening the agency's role as a central policymaking control tower.

2025.9.29

Deputy Prime Minister and Minister of Economy and Finance Koo Yun Cheol presides over a policy meeting on restructuring in the petrochemical industry at Government Complex Seoul in Jongno District, central Seoul on Aug. 17. [YONHAP]

Korea, OECD co-host forum on corporate governance of state-owned enterprises

Korea co-hosted an international forum on the corporate governance of state-owned enterprises with the Organization for Economic Cooperation and Development (OECD) in Paris this week, the Ministry of Economy and Finance said Tuesday.

2025.9.23

Radishes are piled up at a large supermarket in Seoul on Sept. 14, three weeks before the Chuseok holidays. [YONHAP]

Gov't to supply record food stocks, expand discounts to stabilize prices ahead of Chuseok

The government said on Monday it will release a record 172,000 tons of major food items and expand discount programs worth 90 billion won ($64.5 million) to help stabilize living costs and boost household consumption ahead of the Chuseok holiday.

2025.9.15

The Ministry of Economy and Finance building in Sejong is pictured in this file photo. [YONHAP]

Korea logs 35.5 trillion won fiscal deficit in January-May period

Korea's fiscal deficit reached 35.5 trillion won in early 2023, with total revenue increasing significantly while expenditures grew modestly.

2025.7.10

Ministry of Economy and Finance [YONHAP]

Gov't, private sector discuss AI-powered drug development

The government held a consultative meeting with private sector stakeholders on Thursday to promote the use of AI in drug development in response to the intensifying global competition in the bio-health sector.

2025.5.15