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Won to regain ground against dollar until tapering steps are taken: economists

Won to regain ground against dollar until tapering steps are taken: economists
koreatimes.co.kr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreatimes.co.kr Daily Mail and Mail on Sunday newspapers.

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Fear of mass corporate outflow, job loss escalating in Korea

Fear of mass corporate outflow, job loss escalating in Korea
Posted : 2021-06-01 15:39
Updated : 2021-06-01 16:48
Job seekers gather at a Seoul employment welfare center before the beginning of a briefing on unemployment allowances in this July 15, 2020 file photo. Yonhap
By Lee Min-hyung
Major Korean conglomerates big investment plans for the United States are prompting concerns over the job market here, which critics argue may end up raising the youth unemployment rate unless the government applies appropriate and required measures against possible mass corporate outflow.
The country s top-four conglomerates ― Samsung, SK, Hyundai and LG ― are planning to invest up to 44 trillion won ($39.79 billion) in producing semiconductors, batteries and electric vehicles in the world s largest economy. The announcement was made on the sidelines of President Moon Jae-in s first face-to-face summit with U.S. President Joe Biden at the White House last week. ....

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Korea's top 4 groups eyeing greater presence in US market

Korea s top 4 groups eyeing greater presence in US market ....

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President vows to focus on overcoming economic inequality

President vows to focus on overcoming economic inequality
Posted : 2021-05-10 16:46
Experts advise gov t to drop blind optimism
By Lee Min-hyung
President Moon Jae-in vowed Monday that he will try his best to alleviate virus-induced economic inequality during his remaining year in office.
We will do everything possible to recover jobs and narrow the gap and inequalities caused by COVID-19, he said in a nationally televised press conference. We will ensure that rapid economic recovery will lead to the restoration of livelihoods.
President Moon also said the economy is on a solid track towards recovery and pledged to achieve a stronger post-coronavirus rebound. The South Korean leader targeted 4 percent economic growth this year. ....

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Samsung heirs to pay $10b in tax, donate Monet, Picasso works

Samsung heirs to pay $10b in tax, donate Monet, Picasso works
National
April 29, 2021
SEOUL: The heirs to South Korea´s Samsung group announced their plans to pay more than $10 billion in death duties Wednesday one of the world´s biggest-ever inheritance tax settlements and donate an art trove including works by Monet and Picasso.
Lee Kun-hee, the late Samsung Electronics chairman, was the country´s richest man when he died last October at age 78 after being hospitalised for years, leaving an estimated 22 trillion won ($19.6 billion) in assets. South Korea has stringent inheritance tax laws and high rates, resulting in a hefty bill for the family, including Samsung Electronics vice chairman Lee Jae-yong, who is currently in jail for bribery, embezzlement and other offences. ....

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