▶주메뉴 바로가기
▶본문 바로가기
Individual shares to be taxed separately, ending decadesold estate-based system South Korea is planning to overhaul its inheritance tax system in 2028, shifting from a tax on entire estates to a levy on each inheritor's individual share. The Ministry of Economy and Finance announced the plan on Wednesday, aiming to introduce the long-discussed "inheritance acquisition system." This marks the first major revision to Korea's inheritance tax system in 75 years. Under the current system, taxes are l
A US livestock industry group has denounced South Korea’s ban on importing US beef from cattle older than 30 months, labeling it an "unfair trade practice" and urging President Donald Trump’s administration to push for its removal. On Wednesday, the Office of the United States Trade Representative submitted an opinion letter addressing unfair trade practices by US trading partners, drafted by the National Cattlemen’s Beef Association. In the letter’s section on Korea, the NCBA acknowledged that
The National Tax Service of Korea held the 24th Korea-Vietnam Bilateral Commissioners’ Meeting in Hanoi on Tuesday, in collaboration with the General Department of Taxation of Vietnam. The meeting aimed to address tax-related challenges faced by Korean companies operating in Vietnam. Vietnam is Korea’s third-largest trading partner, with a trade volume of $86.8 billion, making it a key investment destination for multinational companies, including Korean firms. This bilateral meeting, first estab
Samsung in search of lobbying experts with strong ties to Trump With US President Donald Trump escalating threats of tariffs and trade restrictions, South Korean conglomerates are rushing to revamp their Washington offices to establish direct connections with the new administration. Samsung Electronics, the world's leading smartphone and semiconductor maker, is considering appointing a new head for its US office and is actively seeking experts with strong ties to Trump. "We are actively looking
Korea's national pension fund adopts new porfolio system to enhance investment flexibility With 1,200 trillion won ($820 billion) in assets under management, South Korea's National Pension Service plans to intensify its focus on global and alternative investments to drive higher returns. The newly adopted "reference portfolio" system is expected to accelerate this shift by increasing flexibility in asset allocation. "The NPS is steadily increasing its allocation to global and alternative investm
Acting President Choi Sang-mok said Tuesday that South Korea and the US will soon enter into detailed negotiations on new US tariffs, as the country's economy is likely to be directly impacted by President Donald Trump's tariffs. Choi noted that Trump threatened to exert all-out pressure on Korea in a recent speech to the US Congress, labeling the Korea-US trade relationship as "unfair" and calling for the revocation of federal subsidies promised to semiconductor companies. “The arrow of Trump's
Washington touts tariff wins based on reports of global firms considering bolstering production in US The White House has listed Samsung, LG and Hyundai Motor Company as examples of US President Donald Trump’s tariffs' success, promoting Washington’s America-first policy to impose 25 percent tariffs on Canada and Mexico and upcoming tariffs on other countries that may include South Korea. “President Donald J. Trump’s tariffs are already working as more and more companies look at ‘expanding their
Opposition leader’s state-owned tech proposal faces reality check South Korean opposition leader Lee Jae-myung’s recent proposal to establish a big tech company akin to Nvidia, but one that is state-backed and profit would be distributed among citizens, has sparked a heated debate among business and political circles here. “If a company like Nvidia were to be established (in Korea), with 70 percent of shares privately owned and 30 percent distributed among citizens, wouldn’t a society emerge tha
South Korean internet banking company Kbank announced Tuesday that it achieved a record-high net income of 128.1 billion won ($98.54 million) in 2024, a tenfold increase from 2023 and its highest annual profit to date. The surge in earnings was driven by a sharp increase in the number of customers, with 3.21 million new users joining in 2024, bringing the total to 12.74 million. This marks the largest annual growth since the bank’s launch in 2017. Kbank’s total deposits rose 49.8 percent on-year
South Korea’s overall economic freedom ranking fell to 17th from 14th in this year’s Heritage Foundation Index of Economic Freedom, with its lowest score in the labor market category, where it ranked 100th. According to the Korea Enterprises Federation on Monday, the 2025 Index of Economic Freedom, published by the conservative US think tank the Heritage Foundation, gave South Korea an overall score of 74 out of 100 — an increase from 73.1 the previous year. However, the country dropped three sp
HanmiGlobal ranks 8th in global CM/PM sales
Hyundai Mobis wins cybersecurity certification in Europe
Hyundai Motor, EcoPro BM to develop LFP battery tech
Posco International joins global efforts for biodiversity
CJ's Miky Lee honored with Global Citizen Award
Incheon Airport tops ACI ratings for 3rd year in row
June 5, 2025
March 12, 2025
March 12, 2025
March 12, 2025
March 12, 2025
March 11, 2025
March 11, 2025
March 11, 2025
March 11, 2025
March 11, 2025
March 10, 2025
