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May, 6, 2016

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Business > Asia > Korea
After a debate stretching back more than 40 years, South Korea's parliament has approved a bill that will finally compel the country's influential clergy to pay taxes.
 
South Korea's economy grew at the fastest pace in more than five years in the third quarter, driven by a strong rebound in consumer spending, central bank data showed Thursday.
 
The landscape of Seoul's lucrative duty-free market, dominated by Lotte and Shilla as of now, is set for a major change following the bid for the expiring business licenses of three duty-free stores in the capital city.
 
South Korea's central bank on Thursday left its key interest rate unchanged at a record-low 1.5 percent for the fifth straight month ahead of a possible U.S. rate hike.
 
South Korea's economy expanded 2.6 percent in the July-September quarter from a year earlier, the fastest annual clip in three quarters, the Bank of Korea said Friday, showing a recovery from the Middle Eastern respiratory syndrome crisis that gripped the country in the summer.
 
South Korea's central bank on Thursday cut its economic growth forecast for the fourth time this year and left interest rates at a record low, as a lengthening export slump overshadowed a pick-up in domestic activity.
 
Bogged by risks from weakening profits and mainland China's economic slowdown, South Korean steelmakers are seeing higher-than-estimated annual sales in a niche sector to become a major growth engine -- premium auto steel sheets.
 
South Korea's central bank on Friday left its key interest rate unchanged at a record-low 1.5 percent, as it keeps an eye on the timing of a much-anticipated U.S. interest rate hike.
 
The brand competitiveness of South Koreans goods and services continued to improve in 2015 from a year ago, the state-run Korea Productivity Center said in a press release Monday.
 
South Korea said Tuesday it had reached agreement with Pyongyang on a wage hike for North Korean workers at their Kaesong joint economic zone, ending a six-month dispute.
 
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