Economy

Delivery date to be basis for 60-day payment deadline as retail standard contracts revisedRisk

Inspection clause moved after payment clause; costs not notified in advance cannot be charged

The Fair Trade Commission has clarified that the reference date for payment deadlines to suppliers of large retailers is the "date of product delivery." Whether an inspection has taken place is irrelevant. The commission is also cracking down on the practice of passing incidental costs on to suppliers without prior consultation.

By Hong Seong-min

Nov 13, 2026, 12:20 KST

AI confirmed at Ganghwa layer farm; 24-hour movement standstill in Seoul metropolitan areaRisk

A layer farm in Ganghwa County, Incheon, has tested positive for highly pathogenic avian influenza (AI). Poultry farm outbreaks this winter have risen to four, three of them at layer farms.

By Hong Seong-min

Nov 13, 2026, 08:06 KST

Seoul Metro debt tops 8 trillion won; daily interest 370 million wonSignal

Seoul Metro pays 370 million won in interest every day, equivalent to about 140 billion won a year. With improving its financial structure urgent, its union has announced a general strike for the 25th.

By Hong Sung-min

Nov 12, 2026, 13:10 KST

Bill for direct election of NACF chairman by members clears standing committeeGovernance

A bill that extends the right to vote for the chairman of the National Agricultural Cooperative Federation (NACF) from association heads to all members has cleared a National Assembly standing committee. About 1.87 million members would gain the right to vote. The bill also spins off the cooperative audit function into a separate entity and widens the scope of members' information disclosure requests. The aim is to increase member participation and internal checks amid repeated cases of vote buying and misconduct.

By Hong Seong-min

Nov 12, 2026, 09:40 KST

Lottery commission demands 30 million won penalty and personnel action against Donghaeng LotteryRisk

The Lottery Commission under the Ministry of Planning and Budget imposed a 30 million won penalty for breach on Donghaeng Lottery, the commissioned operator, and demanded personnel action against those responsible, citing violations of its obligations over the placement structure of first-prize tickets in the Triple Luck electronic lottery.

By Kim Seong-hyeon

Oct 27, 2026, 12:42 KST

Economy

Delivery date to be basis for 60-day payment deadline as retail standard contracts revisedRisk

AI confirmed at Ganghwa layer farm; 24-hour movement standstill in Seoul metropolitan areaRisk

Seoul Metro debt tops 8 trillion won; daily interest 370 million wonSignal

Bill for direct election of NACF chairman by members clears standing committeeGovernance

Lottery commission demands 30 million won penalty and personnel action against Donghaeng LotteryRisk

Delivery date to be basis for 60-day payment deadline as retail standard contracts revised

AI confirmed at Ganghwa layer farm; 24-hour movement standstill in Seoul metropolitan area

Seoul Metro debt tops 8 trillion won; daily interest 370 million won

Jan-Sept managed fiscal deficit at 32 trillion won, smallest in 8 years

Pohang, Seosan employment crisis preemptive response zones extended through 2027

Bill for direct election of NACF chairman by members clears standing committee

Next year's economic growth strategy to focus on easing polarization and potential growth rate

Youth employment rate hits six-year low as total employment rises for fifth month

Fuel tax cut extended two more months through end of January

7,063 firms with 0-1 employees win 1.3862 trillion won in bids

“Resting” population at 2.55 million, falls for first time in four years

Real GDI up 18.8%, biggest since 1977

Board of Audit blames omitted tax law changes for revenue shortfall

Lottery commission demands 30 million won penalty and personnel action against Donghaeng Lottery

Q3 real GDP grows 1%, triple the BOK forecast

Consumer sentiment index falls for first time in a month to 105.4

Youth employment quality index falls from 101.1 to 94.7

Gyeonggi Governor Choo Mi-ae: "Fire service finances must be put on a sound footing"

Choo Mi-ae: "The fiscal burden still remains with local governments"

“I Live Alone” staging allegations: “Deceived the public,” lawmaker says at audit