Policy Issues

Number Subject Publisher Date
470 FSC Issues Preliminary MyData License to Kakao Pay NEW The authorities decided that Kakao Pay meets the financial, professional and other infrastructure-related requirements needed to operate a MyData business, including a minimum capital of KRW500 million, etc. It is expected that Kakao Pay will apply for a final license approval within May this year. Financial Service Commission 2021.05.12
469 Economically Active Population Survey in April 2021 NEW Economically active population and labor force participation rate Employed persons and employment to population ratio Unemployed persons and unemployment rate Economically inactive population Statistics Korea 2021.05.12
468 KDI Monthly Economic Trends 2021. 5   ■ Despite the continued spread of Covid-19, the Korean economy has recently shown a modest recovery centered around manufacturing. KDI 2021.05.10
467 Financial Authorities to Improve Rules on the Suspension of Licensing Review Process   The financial authorities introduced the measures to improve rules on the suspension of licensing review process for financial institutions. The measures are intended to increase predictability and minimize legal uncertainties for businesses. Financial Service Commission 2021.05.06
466 Monthly Industrial Statistics, March 2021   1. Production Trend 2. Consumption Trend 3. Investment Trend 4. Composite Economic Indexes Statistics Korea 2021.04.30
465 Economic Bulletin, May 2021   Mining and manufacturing production, services output and construction investment improved from the previous month in February. Retail sales and facility investment fell. KDI 2021.04.29
464 New Act and New Role: Recent Changes in Korea’s International Development Cooperation   In November 2020, the fully amended Framework Act on International Development Cooperation came into force. Since its first enactment in 2010, the Framework Act has functioned as a legal basis for the Korean ODA system, with this revision coming 10 years into its operation. The core contents of the revised Framework Act aim to further strengthen the authority and role of two major implementing ministries, that is, the MOFA and MOEF, and embassies in partner countries, centering on the Committee for International Development Cooperation (CIDC). It is hoped that Korea′s ODA will truly grow in its effectiveness as the CIDC becomes an ultimate decision-making body in the planning and budgeting process. KIEP 2021.04.28
463 Open Banking Services Available from Savings Banks   The FSC announced the availability of open banking services from savings banks from April 29, 2021. From next month, credit card companies are also expected to join open banking services. Financial Service Commission 2021.04.28
462 A New Look at the Korea-U.S. Alliance   This year, South Korea and the U.S. celebrate 139 years of diplomatic relations. Despite difficulties of various sorts and conflicts that were large and small, the South Korea-U.S. alliance made historical achievements and progress through trust, solidarity, cooperation, and companionship over the past 70 years, and the results are firmly shared by both countries. There are signs of tensions and anxieties in Northeast Asia, but it is important to believe that the two countries will be able to cope with these problems wisely and sensibly based on the alliance forged through blood, as they have done until now. CSIS 2021.04.27
461 Regional Economic Report (March 2021)   This report, a condensed English version of the Regional Economic Report published in Korean, summarizes recent developments in regional economic activity based on information gathered by the 15 regional branches of the Bank of Korea from businesses and other sources within each region between mid-January and early-March 2021. The contents of this report may not necessarily agree with the official statistics to be released later by the Bank of Korea and Statistics Korea. Bank of Korea 2021.04.26