경제소식 (Economic News)

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작성자 까마 (121.♡.87.158) 댓글 0건 조회 92회 작성일 22-11-04 13:14

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[KOREAN ECONOMIC NEWS] Good morning everyone I am  Rumi Dhar from Kama Group.
Here I have important KOREAN economic news to share with you which is as mentioned
below.

South Korea plans to provide a wide array of support to local shippers and venture companies
to add vitality to the weak investment sentiment amid the looming global recession, the
finance minister said Friday.

"Recently, external and internal uncertainties have been rising due to the growing concerns
over a global slump and expanding volatility in the financial market," Finance Minister Choo
Kyung-ho said during an emergency meeting with economy-related ministers.

"The South Korean economy is expected to face a complex crisis for a considerable period,
" the minister added. "The government will spare no efforts to secure export engines to take
a new leap forward."

To cope with the challenges, Choo said the country plans to allocate some 3 trillion won
($2.1 billion) to support the shipping industry, which recently has been suffering from falling
freight charges.

The Shanghai Containerized Freight Index, a barometer of global freight rates, came to
1,698 in October, sharply down from 5,110 tallied in January, according to the Ministry of
Economy and Finance.

South Korea plans to support the development, as well as environment-friendly and digital
technologies, in the shipping industry, Choo said.

Such measures are expected to increase the combined annual sales of local shippers to 58
trillion won in 2027, rising sharply from 50 trillion won in 2021, the government data showed.

The country, meanwhile, will expand tax incentives on startups to help attract more investors
as well, Choo added.

"Responding to the contraction of investors' sentiment in the venture industry on expanding
uncertainties from home and abroad, we plan to revamp the role of policy funds," the minister
said.

The country plans to increase the amount of venture funds raised here annually to 8 trillion
won over the 2022-2026 period, up from 6 trillion won tallied in the past five years.





Read more at: https://www.koreaherald.com/view.php?ud=20221104000113

KAMA GROUP
New Delhi
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