1. Latest economic trends
In the first quarter of 2014, the real GDP grew by 0.9% compared to the previous quarter and 3.9% year-on-year. All industry production in Apr. 2014 was 0.5% less than the previous month’s due to the sluggish service industry. In May, exports decreased by 0.9% compared to the same month of the previous year to 47.88 billion dollars because of reduced operation days and sluggish exports to Asian countries including China, and imports grew by 0.3% to 42.53 billion dollars. In addition, consumer prices in May grew by 0.2% from the previous month and by 1.7% compared to the same month of the previous year. The number of employed persons in May increased by 413,000 (1.6%) compared to the same month of the previous year to 25.811 million.

2. Venture capital market trends and implications from overseas policy cases
To promote investment through nurturing venture companies and to create new jobs, financial support policies differentiated by business growth stage are required so that promising venture companies with technological competitiveness can settle down in the market. To successfully nurture venture companies that can develop new growth areas and create new jobs, there should be stronger investment finance policies by the government for promising venture companies in their early stage of business. Korea Fund of Funds, whose role is to reinvigorate investment in SMEs and venture companies, should provide more investment support in the companies’ early stage.

3. Comparison of public sector debt between the administration and the Bank of Korea
There have been numerous arguments about the size of the Korean government’s debt in the administration, the political parties, academia, and the media over the last decade. To close the arguments, the administration is announcing finance statistics related to government debt in government debt on a cash-basis (D1), general government liability (D2), the debt in the national financial statement, and public sector debt (D3). Although the administration and Bank of Korea were in alignment on the scope of the public sector, there was a 206.9 trillion KW difference between their public sector debt figures at the end of 2012. While the administration’s public sector debt (D3) was 821.1 trillion won, that of the Bank of Korea was 1,028 trillion KW. Their gap in the statistical amounts is the result of different purposes and methods of their statistics producing processes. To prevent any confusion caused by an overstatement of debt, the size of public sector debt should be accurately explained. Also, diverse finance statistics should be actively utilized.

4. National tax income in Jan.~Apr. 2014
In Jan.~Apr. 2014, the accumulated national tax income increased by 0.9 trillion won compared to the same period of the previous year (73.7 trillion) to 74.6 trillion Won.
In Apr. 2014, the national tax income was 25.8 trillion Won, down 0.8 trillion won from the same month of the previous year (26.6 trillion Won).
In Jan.~Apr. 2014, the actual tax income was 34.4% of the target, which is 2.0%p lower than the same period of the previous year (36.5%).
The ratio of actual accumulated national tax income against the target in Jan.~Apr. 2014 was the lowest (34.5%) in the last 10 years.