Framework Act on Cooperatives to Take Effect from December 2012The Ministry of Strategy and Finance announced on January 26 that the Framework Act on Cooperatives, passed at the National Assembly on December 29, 2011, will be enforced from December 2012. The act is expected to help boost Korea’s real economy, as it will encourage the establishment of small businesses and contribute to job creatio..
The Korean economy is expected to grow about 5% in 2012 as the global economy recovers and domestic demand increases. Consumption, facility investment, construction investment and exports are all forecast to rise. The government is focusing on creating one of the world’s leading economies while strengthening the fundamentals for sustainable growth. Please refer to the attached PDF file.