Tag - finance

Finance minister vows efforts to contain Brexit uncertainties

Korea’s finance minister pledged all-out efforts Monday to minimize the fallout from Britain’s recent decision to leave the European Union. “The government will thoroughly manage risks so as to help limit an increase in uncertainties sparked by Britain’s exit from the EU,” Yoo Il-ho told a joint press conference where he was joined by other ranking officials in announcing the direction of the government’s economic policy for the latter half of the year. he finance minister said Britain’s exit, known as [...]


Ratio of income tax revenue to GDP rising fast: report

South Korea’s ratio of income tax revenue to gross domestic product has been rising at a fast pace over the past years due largely to the increased number of taxpayers, a report showed Monday. The country’s revenue from earned income and global income taxes came to 36.8 trillion won ($31.4 billion) in 2014, accounting for 2.48 percent of the overall tax revenue of 1,485.1 trillion won, according to the report based on data from the finance ministry and the National [...]