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Korea Expecting Massive Drop in Insurance Payouts from Autonomous Vehicles

Korea Expecting Massive Drop in Insurance Payouts from Autonomous Vehicles

SEOUL, Sept. 26 (Korea Bizwire) – Amid rapid automotive innovation that has promoted enhanced driving safety, car insurance may gradually become nonessential. According to a KIDI report released Monday, if 50 percent of domestic vehicles are equipped with level 1 function-specific automation (NHTSA), including autonomous emergency and autonomous reverse braking technologies, annual insurance payouts will

Chinese Tourists Can Now Use Smartphones to Pay Transport Fares in Korea

Chinese Tourists Can Now Use Smartphones to Pay Transport Fares in Korea

SEOUL, Sept. 26 (Korea Biziwre) – Millions of Chinese visitors will now be able to use their smartphones to pay for transit in Korea.  The Seoul Metropolitan government announced Monday the official launch of a mobile pay system entitled ‘UnionPay Mobile T-Money’ for public transportation. It is named after the Shanghai-based financial services corporation UnionPay,

Broadcasters to Impose Stronger Sanctions against Gender Inequality

Broadcasters to Impose Stronger Sanctions against Gender Inequality

SEOUL, Sept. 26 (Korea Bizwire) – The Korea Communications Standards Commission (KCSC) announced Sunday that will be revising its regulations on broadcasting deliberation in an effort to promote gender equality on television programs and for online video content. The amendment comes as a measure to combat Korea’s recently-expanding gender hatred culture, and will ban all

Korean Presidential Residence Vulnerable to Drone Attacks

Korean Presidential Residence Vulnerable to Drone Attacks

SEOUL, Sept. 26 (Korea Bizwire) – Recent military data has shown that with the increasing popularity of drones, their presence in the no-fly zone (P73A) covering Cheong Wa Dae is now threatening the security of one of Korea’s most important government facilities. Cheong Wa Dae (the Blue House), the equivalent of the White House in the

Government to Bolster Support Packages for Hanjin’s Refugees at Sea

Government to Bolster Support Packages for Hanjin’s Refugees at Sea

SEJONG, Sept. 26 (Korea Bizwire) – The Korean government decided Sunday to reinforce its supply of support packages (food and daily necessities) to Hanjin Shipping employees still stranded at sea following the bankruptcy of the shipping giant.  As of Sunday, there were 59 Hanjin-owned vessels at sea, with 518 Korean and 720 overseas employees on

Prosecutors Seek Warrant to Arrest Lotte Group Chairman over Corruption

Prosecutors Seek Warrant to Arrest Lotte Group Chairman over Corruption

SEOUL, Sept. 26 (Korea Bizwire) – A warrant is being sought to formally arrest the chief of the embattled South Korean retail giant Lotte, prosecutors said Monday, as the high-profile corruption probe into the country’s fifth-largest conglomerate nears its conclusion.  The Seoul Central District Prosecutors’ Office submitted the request to a local court to detain

Single, Two-Member Households to Become Majority of Seoul Population: Report

Single, Two-Member Households to Become Majority of Seoul Population: Report

SEOUL, Sept. 26 (Korea Bizwire) – Households comprised of one or two people will account for over 60 percent of Seoul’s total population by 2040, a report showed Monday.  Byeon Mi-ri, chief of the Global Future Research Center under the Seoul Institute, said 30 percent of homes in the capital city will be made up

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