Seoul, April 24 (IANS) The South Korean government will designate 10 cities to serve as major hubs for startup ecosystems by next year in a bid to promote balanced regional growth and create more jobs for young people, the finance ministry said on Friday. It will first designate four cities that house the country’s major science institutes — Daejeon, Daegu, Gwangju and UIsan — as startup hubs this year, and name six more cities outside of the greater Seoul area with such potential next year, a…
Latest Ministry of Finance and Economy News & Updates
Seoul, April 17 (IANS) Escalating geopolitical tensions linked to the prolonged Middle East conflict are posing risks of inflation and greater downside pressure on the South Korean economy, the finance ministry here said on Friday.The Ministry of Finance and Economy made the assessment in its monthly economic report, known as the Green Book, heightening its warning from last month, when it noted only potential fallout, reports Yonhap news agency.”The economy has faced increasing downside risks d…
Seoul, April 3 (IANS) The government will take stern measures, including legal means, against malicious activities aimed at taking advantage of recent market volatility through the spread of fake news and rumours, a senior finance ministry official said on Friday.”Spreading unfounded fake news in a time of extraordinary crisis is a serious matter that can fuel market anxiety and undermine trust in policy,” Moon Ji-sung, deputy minister for international economic affairs, said while presiding ove…
Bandar Seri Begawan, March 30 (IANS) Indian High Commissioner to Brunei Ramu Abbagani held a meeting with Brunei’s Minister of Culture, Youth and Sports Dato Seri Setia Haji Nazmi Mohamad on Monday, discussing efforts to strengthen bilateral cooperation. In a statement shared on X, the Indian High Commission in Brunei said, “High Commissioner paid a courtesy call on Dato Seri Setia Haji Nazmi Mohamad, Minister of Culture, Youth and Sports, strengthening efforts in bilateral cooperation.”On…
Seoul, Dec 29 (IANS) South Korean President Lee Jae Myung said Monday that his nominee for budget minister needs to clarify her remarks in support of former President Yoon Suk Yeol’s failed martial law bid, a presidential spokesperson said. Lee Hye-hoon, a former three-term lawmaker from the conservative camp and a veteran economist, was named Sunday as the first minister of the soon-to-be-launched Ministry of Planning and Budget. The choice came as a surprise, as she had previously made comment…