Exec. Director Choi Hee-nam of the International Monetary Fund(IMF)(Photo:IMF) Executive Director Choi Hee-nam of the International Monetary Fund (IMF), in a column he contributed to the Korea Economic Daily’s Sept. 26 issue, entitled, “Glass Ceiling, Is Not To Be Broken, But Removed,” pointed o…

South Korean President Moon Jae-in delivers his maiden speech at the UN General Assembly in New York on Sept. 21. How can North Korean leader Kim Jong-un’s nuclear arms ambitions be stopped? Is it possible that the United Nations Security Council’s strongest-ever sanctions against North Korea for…

Chairman Choi Jong-ku of the Financial Services Commission (FSC) will try to cut the maximum interest rate on defaulted loans, now standing at 14 percent per year. He also plans to make insurance firms to make payments to those who have yet to see any money and penalize those who fix the share pri…

Kia Motors, Samsung Electronics and Kumho Tire, the Big Three companies that have served as the pillars of the economy of Gwangju Metropolitan City for the past 40 years, have fallen upon hard times. Kia Motor’s Gwangju plant, producing the Soul, Sportage and Bongo models, are seeing a decline in…

The Global Green Hub Korea 2017 (GGHK 2017) that took place from Sept. 4 to 5 at the Songdo Convensia in Incheon attracted about 200 officials of 143 foreign project owners from 41 countries and roughly 500 Korean company officials.  The 10th GGKH exhibition was hosted by the Ministry of Env…

Korea Electronics Technology Institute (KETI) has been selected to oversee a state-financed AI flagship project this year by the Ministry of Science, ICT and Future Planning (MSIT). The project calls for investments worth a combined 70 billion won over five years until 2020 into the development o…

Chairman Kim Byung-won of the National Agricultural Cooperatives Federation(NACF) holds the Korea Reform Management Award for 2017 he won in line at the 19th Korea Reform Related Academics Integrated Conference held at the Gwangju Kim Dae-jung Convention Center in Gwangju, South Jeolla Province, Aug…

The government’s 2018 budget calls for a 7.1 percent increase in spending to 429 trillion won, aligning it with President Moon Jae-in’s economic initiatives of focusing on income-led growth and creating jobs. The budget increase is higher than the government’s economic growth forecast of 4.5 pe…

Gwangju Mayor Yoon Jang-hyun said Gwangju Metropolitan City will strive to come up with their own steps to create jobs and foster the development of the eco-friendly auto, new energy and cultural content industries to cope with the advent of the 4th Industrial Revolution. Mayor Yoon of the Gwanju…