27th May 2016
Just months before South Korea implements its strictest-ever law against corruption and bribery, a backlash is brewing among critics who argue that tough limits on accepting meals and gifts may weigh on the economy. The anti-corruption law taking effect in September aims to end a wide-spread practice of pampering public… Read More
23rd May 2016
South Korea has tightened the screw on North Korea by slapping tougher unilateral sanctions over the North’s recent nuclear and missile tests, adding to its punitive actions taken in 2010 in response to the North’s attacks. On May 24, 2010, Seoul slapped comprehensive sanctions on North Korea to punish it… Read More
17th May 2016
South Korean President Park Geun-hye visited Iran earlier this month, pledging to forge ahead and establish a new era of relations with Tehran built on closer economic cooperation. During the three-day visit, Park and Iranian President Hassan Rouhani agreed to 30 joint economic projects, totaling more than $37.1 billion. The two sides also agreed to more than 50 memorandums of understanding dealing with everything from infrastructure cooperation and joint energy ventures to work on medical and health care projects. Read More
11th April 2016
Tax authorities in Seoul have slapped Hyundai Heavy Industries with an additional tax of 120 billion won ($104 million), the shipbuilder confirmed Monday. Read More