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Earned Income Tax Revenue to Top W30Tln for the First Time

Salaried workers in South Korea are paying a record amount of income tax.According to a new government budget report, earned income tax revenue is expected to top 30 trillion won this year for the first time ever.Overall income tax revenue is also expe...
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Prosecution Raids DAPA Over Alleged Leak of Military Secrets

The prosecution has raided the country's arms procurement agency as part of its probe into allegations that military secrets were leaked by an employee.The Seoul Central District Prosecutors' Office on Tuesday searched the office of an employee at the ...
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KOSPI, KOSDAQ Rise Taking Cues from Wall Street

Following a rally on Wall Street overnight, the benchmark Korea Composite Stock Price Index(KOSPI) on Wednesday jumped 12-point-12 points, or zero-point-62 percent, to close at one-thousand-979-point-65.The tech-heavy KOSDAQ surged ten-point-four point...
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Ahn Cheol-soo Calls for President’s Resignation

Former Chairman Ahn Cheol-soo of the minor opposition People's Party has called on President Park Geun-hye to resign. Ahn delivered the demand in a news conference on Wednesday, saying that Park has already been let go of her qualification as president...
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Prosecutors Cast Suspicions on Park’s Meeting with SK Chief

It has been made known that President Park Geun-hye held another closed-door meeting with a business leader earlier this year after holding talks with seven conglomerate chiefs last year.Amid suspicions that the president could have exerted pressure on...
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Ahn Cheol-soo Hails Moon’s Decision to Fight for Park’s Resignation

Former Chairman Ahn Cheol-soo of the minor opposition People's Party has welcomed a former opposition chief's decision to participate in a nationwide campaign to push for President Park Geun-hye's resignation.Ahn on Tuesday hailed the announcement by f...
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This Year’s Rice Production Slips 3% from 2015

Heavy rain has put a damper on South Korean rice production this year.Statistics Korea said Tuesday the country produced 130-thousand fewer tons of rice this year than at the same time last year. That's a drop of about three percent.However, the longe...
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European Commission, Turkmenistan mull energy co-op

Turkmen and the European Commission officials during a meeting in Brussels stressed the importance of the work under the Ashgabat Declaration meant for development of energy cooperation between Turkmenistan, Azerbaijan, Turkey and the EU.The meeting pa...
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Working-level TF on Dealing with Next US Gov’t Trade Policies Launches

A working-level unit made up of government officials and private groups was launched on Monday tasked with actively dealing with trade policies of the incoming U.S. administration.At the group's first meeting in Seoul, Second Vice Trade Minister Woo Ta...
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