The ruling People Power Party has proposed a package of two bills to strengthen the country’s semiconductor industry with key countries intensifying competition to stay ahead in this important tech sector. One of the proposed bills is aimed at raising the tax deduction rate to a range between 20-30 percent, depending on the size of companies, up from the current 6-16 percent range. It also inten...

South Korea posted a trade deficit for the fourth consecutive month this week. It failed again to escape from a trade deficit in figures for July, as imports increased more than exports did, due to high energy prices. According to the Ministry of Trade, Industry and Energy, exports rose 9.4 percent year-over-year to $60.7 billion last month, but they were outpaced by imports that expanded 21.8 ...

Overhauling South Korea’s education system is an extremely difficult task as it involves many stakeholders and potentially explosive issues in a nation where hyper-competition among parents and students is the norm. It is no wonder then that the government’s plan, abruptly announced Friday, to lower the school starting age from the current 6 to 5, starting as early as 2025, is touching off a fir...