Korea Joongang Daily
Korea JoongAng Daily

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.

2026-03-18

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.

2026-01-20

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.

2026-01-06

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

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.

2025-09-29

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.

2025-09-23

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.

2025-09-15

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.

2025-07-10

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.

2025-05-15

Korea to inject $2B in emergency aid for tariff-hit auto industry

The government is putting together a 3 trillion won relief package for the auto industry as it grapples with the impact of U.S. President Donald Trump's 25 percent tariffs.

2025-04-06