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Over 1000 financially vulnerable Koreans apply for new emergency government loans

On Tuesday morning, a man in his 60s sighed as he pressed the button for the elevator in front of the Korea Inclusive Finance Agency in Seoul. Looking exhausted, he was holding several documents received during a consultation with the agency. He had just applied for an emergency loan offered by the government. ....

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Move to revise anti-corruption law gives rise to differing opinions

Opinions have been divided over the possibility of raising the price cap for meals under the country s anti-corruption law, after the presidential office said it was considering raising the limit from the current 30,000 won ($23) to 50,000 won. The so-called Kim Young-ran Act, which came into effect in 2016, prohibits public officials, private school teachers and journalists from being treated to meals that cost more than 30,000 won or receiving gifts priced over 50,000 won. ....

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Specter of bankruptcy looms over builders

Domestic builders are facing growing concerns over the possibility of a series of bankruptcies amid worsening investor sentiment in the wake of the recent slump in the real estate market, according to industry officials, Thursday. Late last month, Wooseok Construction, a medium-sized builder based in South Chungcheong Province, failed to repay its debt in time. If the company fails to make the payment again, it will be forced into bankruptcy. ....

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