Economy
Macroeconomics
'Rollback' of 1.2 Billion Won Comprehensive Real Estate Tax Deduction for Non-Resident Single-Home Owners… ISA Reform Withdrawn
The government has decided to withdraw its plan to lower the basic exemption amount for the Comprehensive Real Estate Tax for non-resident single-homeowners to 900 million won starting next year and t…
Macroeconomics
Phrase ‘interest rate hike stance’ omitted… Bank of Korea eases pace after consecutive hikes
The Bank of Korea, which has raised the benchmark interest rate twice in a row, is expected to begin “slowing the pace” of hikes going forward. Since the central bank raised the benchmark rate to 3% t…
Macroeconomics
"They just tossed a few armored vehicles our way and called it a day… 'Russia stole my tax money'"
The T-80U tanks and BMP-3 armored vehicles operated by the South Korean Army, as well as the Air Force’s Ka-32 helicopters, have one thing in common: they were not purchased with money, but were provi…
Macroeconomics
Nine out of Ten Seniors Receive Pensions, but More Than Half Receive Less Than 500,000 Won a Month
While more than 9 out of 10 people aged 65 or older receive a pension, it has been revealed that half of them receive less than 500,000 won per month. Although the average monthly pension payment has …
Macroeconomics
Rejected by Banks, They Turn to Companies… “Please Lend Us Even 50 Million Won”
Amid the government’s tightening of lending policies, it has become extremely difficult—almost “like trying to pluck a star from the sky”—for individuals to secure loans, not just for housing-related …
Macroeconomics
Top 10 Companies Account for 55% of Exports… 'Unprecedented Concentration'
The phenomenon of “unprecedented concentration”—in which just 10 companies account for more than half of South Korea’s exports—is intensifying. Following the first quarter, when trade concentration ex…
Macroeconomics
Even if You Lose 100 Million Won, You’ll Owe Tax on Cryptocurrency If You Make 10 Million Won the Next Year… A Closer Look at the Tax Rules
The Democratic Party of Korea and the Ministry of Economy and Finance have agreed to implement taxation on digital assets (virtual assets) as originally proposed starting next January. With the Nation…
Macroeconomics
[Exclusive] Advisory Panel on 'Top-Secret' Cryptocurrency Taxation Guidelines Meets on the 24th… Even Signed a Memorandum
Tax authorities will hold the first meeting of the “Advisory Committee for the Enactment of the Notice” on the 24th of this month, aiming to enact a notice on the taxation of digital assets (virtual a…
Macroeconomics
South Korea’s Economy Driven by ‘Semiconductor Engine’… IB Forecasts Average Growth Rate of 3.2% for This Year
As the semiconductor “super cycle” continues amid expanding investment in artificial intelligence (AI), overseas institutions are raising their growth forecasts for the South Korean economy. With expo…
Macroeconomics
Central Banks Snapping Up Gold—Why?…The Bank of Korea’s Reserves Stand at
Central banks around the world are snapping up gold. They purchased nearly 290 metric tons of gold in the second quarter alone, marking the largest second-quarter purchase volume on record. Analysts s…