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Ministry Of Strategy And Finance
The Ministry of Economy and Finance (MOEF; ) oversees the financial policies of the South Korean government. It publishes a monthly report on the national economy, known as the "Green Book." The current minister is Choi San-mok. The headquarters is in the Sejong Government Complex in Sejong City. According to Chapter 3 Article 19 of the Government Organisation Act, the Minister of Economy and Finance also acts as the Deputy Prime Minister, together with the Minister for Education. MOEF has enforcement functions as well. It oversees the National Tax Tribunal and the Financial Intelligence Unit. The ministry was formed in 1994 through the merger of the old Economic Planning Board (est. 1961) and Ministry of Finance (est. 1948). History 1948 Three years after gaining independence from Japan, the Korean government was set up and it established the Ministry of Finance and the Economic Planning Board. The Ministry of Finance took charge of designing tax, financial and monetary polic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of South Korea
The government of South Korea () is the national government of the Republic of Korea, created by the Constitution of South Korea as the executive, legislative and judicial authority of the republic. The president acts as the head of state and is the highest figure of executive authority in the country, followed by the prime minister and government ministers in decreasing order. The Executive and Legislative branches operate primarily at the national level, although various ministries in the executive branch also carry out local functions. Local governments are semi-autonomous and contain executive and legislative bodies of their own. The judicial branch operates at both the national and local levels. The South Korean government's structure is determined by the Constitution of the Republic of Korea. This document has been revised several times since its first promulgation in 1948 (for details, see History of South Korea). However, it has retained many broad characteristics; wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Complex Gwacheon
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The main types of modern political systems recognized are democracies, totalitarian regimes, and, sitting between these two, authoritarian regimes with a variety of hybrid regimes. Modern classification systems also include monarchies as a standalone entity or as a hybrid system of the main three. Historically prevalent for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Ministries
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. However ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Ministries Of South Korea
A government is the system or group of people governing an organized community, generally a State (polity), state. In the case of its broad associative definition, government normally consists of legislature, executive (government), executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 list of sovereign states, independent national governments and government agency, subsidiary organizations. The main types of modern political systems recognized are democracy, democracies, totalitarian regimes, and, sitting between these two, authoritarianism, authoritarian regimes with a variety of hybrid regimes. Modern classification systems also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Korea
The Bank of Korea (BOK; ) is the central bank of South Korea and issuer of South Korean won. It was established on 12 June 1950 in Seoul, South Korea. The bank's primary purpose is price stability. For that, the bank inflation targeting, targets inflation. The 2016–18 target is consumer price index, consumer price inflation of 2.0%. History 1950–1970 The Bank of Korea was established on under the Bank of Korea Act passed of , taking over assets and operations from the simultaneously liquidated Bank of Chōsen. It was given a wide range of functions in relation to monetary and financial policy, Banking regulation and supervision, banking supervision, and foreign exchange policy. The Korean War began only thirteen days after the bank was created, forcing the Head Office to relocate to Daejon, Daegu and Busan. It returned to Seoul after the Incheon landings. The bank's 89 boxes of silver and gold bullion was moved by the military to the Commander Fleet Activities Chinhae, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Supervisory Service (South Korea)
The Financial Supervisory Service (FSS) is South Korea's integrated financial regulator that examines and supervises financial institutions under the broad oversight of the Financial Services Commission (FSC), the government regulatory authority staffed by civil servants. History Financial Supervisory system in S. Korea prior to FSS Before the Financial Supervisory Service (FSS) was established, Korea's financial supervisory system was largely fragmented, with the banking, securities, insurance, and non-bank sectors individually managed and regulated by a separate agency. Furthermore, the authority of supervision was split between two governing entities, i.e. the supervisory agencies and the Ministry of Finance and Economy (formerly known as the Ministry of Finance; currently the Ministry of Strategy and Finance). Under this segregated supervisory system, the banking sector was overseen by the Bank of Korea and the ministry, the securities sector by the Securities Supervisory Boa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Commission (South Korea)
The Financial Services Commission (FSC), formerly Financial Supervisory Commission, is South Korean government's top financial regulator. It makes financial policies, and directs the Financial Supervisory Service. The Financial Supervisory Commission was established in 1998. With the start of Lee Myung-bak administration, the Commission was rearranged into the Financial Services Commission; the new one took over the policy-making authority from the Finance Ministry. As part of social responsibility, in 2014 the FSC Chairman Shin Je-yoo made plans to regulate the degree of innovativeness of banks requiring them to make the public the wages employees and executives in comparison to overall profit. This part of measured to encourage financial banks to create more value and jobs with an innovative management. It will see whether the banks are financing enough promising tech firms for going conservative practices and filling their social responsibility. See also * Korea Financia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Korea Financial Investment Association
The Korea Financial Investment Association (KOFIA; ) is a non-profit, self-regulatory organization (SRO) in South Korea, founded under the Financial Investment Services and Capital Markets Act. It was established on February 4, 2009 through the merger of the Korea Securities Dealers Association, the Korea Futures Association, and the Asset Management Association of Korea. Overview KOFIA's goals are to ensure fair business practices among members, the fair trading of securities and investor protection, and the development of the nation’s capital market and financial investment services industry. KOFIA performs five major functions: self-regulation, market management, upgrading the financial investment industry, the education and training of professionals, and fostering a sound investment culture. As the primary SRO, KOFIA oversees a wide spectrum of areas in the Korean financial investment industry. All securities, asset management and futures firms in Korea are KOFIA members and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of South Korea
The economy of South Korea is a highly developed mixed economy. By nominal GDP, the economy was worth (US$1.87 trillion). It has the 4th largest economy in Asia and the 13th largest in the world as of 2025. South Korea is notable for its rapid economic development from an underdeveloped nation to a developed, high-income country in a few decades. This economic growth has been described as the Miracle on the Han River, which has allowed it to join the OECD and the G20. It is included in the group of Next Eleven countries as having the potential to play a dominant role in the global economy by the middle of the 21st century. Among OECD members, South Korea has a highly efficient and strong social security system; social expenditure stood at roughly 15.5% of GDP. South Korea spends around 4.93% of GDP on advanced research and development across various sectors of the economy. South Korea's education system and the establishment of a motivated and educated populace were ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2012 South Korean Legislative Election
Legislative elections were held in South Korea on 11 April 2012. The election was won by the ruling Saenuri or New Frontier Party, which renewed its majority in the National Assembly, despite losing seats. The election was read as a bellwether for the presidential election to be held later in the year. The result confounded exit polls and media analysis, which had predicted a closer outcome. Background The South Korean National Assembly consists of 246 directly elected seats and 54 nationwide proportional representation seats chosen under an FPTP-PR parallel voting system. Proportional seats were only available to parties which one three percent of the national valid vote among seat-allocated parties and/or won five or more constituency seats. In South Korea's presidential system, the head of state controls the executive, but the loss of control in congress could have hampered President Lee's ability to govern alone. Political parties Four parties won seats in the 2012 elec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gyeonggi Province
Gyeonggi Province (, ) is the most populous province in South Korea. Seoul, the nation's largest city and capital, is in the heart of the area but has been separately administered as a provincial-level ''special city'' since 1946. Incheon, the nation's third-largest city, is on the coast of the province and has been similarly administered as a provincial-level ''metropolitan city'' since 1981. The three jurisdictions are collectively referred to as '' Sudogwon'' and cover , with a combined population of over 26 million - amounting to over half (50.25%) of the entire population of South Korea, and a third of the population of the Korean peninsula at the 2020 census. Etymology Its name, ''Gyeonggi'', means "京 (the capital) and 畿 (the surrounding area)". Thus, ''Gyeonggi Province'' can be translated as "Seoul and the surrounding areas of Seoul". History Gyeonggi Province has been a politically important area since 18 BCE, when Korea was divided into three nations durin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gwacheon
Gwacheon (; ) is a Administrative divisions of South Korea, city in Gyeonggi Province, South Korea. It lies close to Seoul in the heart of the Seoul National Capital Area, and also lies just east of Anyang, Gyeonggi, Anyang. Seoul Subway Line 4 passes through the city. Various attractions usually associated with Seoul, including Seoul Grand Park, National Museum of Contemporary Art (South Korea), National Museum of Contemporary Art, Seoul Land, Gwacheon National Science Museum, and Seoul Race Park are actually located in Gwacheon or its immediate jurisdiction. It is also home to a major administrative center of the Korean government. History Early history In 475 CE, the land that would one day become Gwacheon was a part of Yulmok-Administrative divisions of South Korea#Gun (County), gun, a county of the Korean Peninsula's Goguryeo dynasty. Later, in 757, Unified Silla dubbed the area Yuljin-gun, a county of Hansan-ju, and the Goryeo dynasty renamed it Gwaju in 940. From 990 to 99 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
