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money ministry

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Finance Minister Koo Yun-cheol speaks during a meeting of the interministerial task force on special management of consumer prices in Sejong on May 7. [NEWS1]

Gov't to extend ban on petroleum hoarding for another 2 months amid prolonged Iran war

The government will extend its ban on hoarding petroleum products for another two months amid continued supply concerns stemming from the Iran war, Finance Minister Koo Yun-cheol said Thursday.

2026.5.7

Korean Finance Minister Koo Yun-cheol, left, shakes hands with Uzbek President Shavkat Mirziyoyev in Samarkand, Uzbekistan, on May 3. [MINISTRY OF FINANCE AND ECONOMY]

Korean finance minister and Uzbek president discuss cooperation in critical minerals and infrastructure

Korean Finance Minister Koo Yun-cheol and Uzbek President Shavkat Mirziyoyev discussed ways to strengthen cooperation in critical minerals and infrastructure, Seoul's finance ministry said Tuesday.

2026.5.5

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Finance Minister Koo Yun-cheol speaks during an interministerial meeting held at the central government complex in Seoul on April 23. [NEWS1]

Government plans to increase, diversify Korea's startup ecosystems to promote balanced growth

The government will designate 10 cities to serve as major hubs for startup ecosystems by next year in a bid to promote balanced regional growth and create more jobs for young people, the Ministry of Finance and Economy said Friday.

2026.4.24

Shin Hyun-song, the new governor of the Bank of Korea (BOK), delivers his inaugural address at the central bank in Jung District, central Seoul, on April 21. Shin signaled a more flexible approach to monetary policy in the speech amid geopolitical uncertainty in the Middle East. [BOK]

BOK chief, finance minister vow enhanced policy coordination amid ongoing Middle East crisis

The new governor of the Bank of Korea (BOK), Shin Hyun-song, and Finance Minister Koo Yun-cheol agreed Thursday to strengthen policy coordination amid heightened market volatility stemming from the ongoing Middle East crisis, the central bank said.

2026.4.23

First Vice Finance Minister Lee Hyoung-il speaks during a meeting at the government complex in Jongno District, central Seoul, on Feb. 23. [NEWS1]

Finance Ministry discusses tariffs' restricted influence on financial markets

Korea's top financial authorities said Monday the U.S. Supreme Court's decision on tariffs had only a "limited" impact on global financial markets, noting that sector-specific duties on automobiles and steel remain in place.

2026.2.23

Korea's economic recovery continuing despite uncertainties, says Finance Ministry

Korea's economy continues to be on the path to recovery, supported by stronger domestic demand and a solid performance in the semiconductor sector, despite ongoing uncertainties, the Finance Ministry said Friday.

2026.2.13

A driver refuels a car at a gas station in Seoul on Dec. 31, 2025. [YONHAP]

Gov't to extend fuel tax cut by another 2 months until April

Korea will extend its temporary fuel tax cut for an additional two months through the end of April in a bid to ease the financial burden on consumers amid ongoing volatility in global oil prices, the Finance Ministry said Thursday.

2026.2.12

Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol, second from left, Vice Minister Lee Hyung-il, second from right, and Lim Kwang-hyun, commissioner of the National Tax Service, left, cheer during a signboard unveiling ceremony for the Ministry of Economy and Finance at the Government Complex Sejong on Jan. 2. [YONHAP]

Finance Ministry divided into two separate bodies in gov't reorganization

The finance ministry was formally divided into two separate ministries on Friday, with a newly established body taking over the government's budget planning functions.

2026.1.2

The Ministry of Economy and Finance's headquarters in the central administrative city of Sejong [MINISTRY OF ECONOMY AND FINANCE]

Gov't to issue $1.39 billion in Treasury bonds for retail investors in 2026

The Finance Ministry said on Tuesday it will issue 2 trillion won ($1.39 billion) in government bonds for individual investors next year.

2025.12.30

Trains are seen parked at a lot in Guro District, southern Seoul, on Dec. 22. [YONHAP]

11th-hour deal keeps trains running as rail workers' union, Finance Ministry come to agreement

A nationwide rail workers' strike was averted on Tuesday after the Ministry of Economy and Finance approved a plan to raise performance-based bonuses for the Korea Railroad Corporation, effectively ending the standoff without service disruptions.

2025.12.23