SEOUL, Jul. 21 (Korea Bizwire) — South Korean law enforcement agencies have revealed that 108 colleges entered into illicit agreements credit card companies, and received rebates for giving them exclusive rights to processing tuition payments by credit card. Financial authorities are considering imposing administrative sanctions on the card companies for their improper transactions. The Southern Gyeonggi Provincial [...]
SEOUL, Jul. 20 (Korea Bizwire) — On July 27, Kakao Bank will join K Bank as one of the first two Korean digital banks. The company is currently running its final tests before the official launch of its online service. Kakao Bank brings an immense presence to the digital bank landscape by virtue of its [...]
SEOUL, Jul. 20 (Korea Bizwire) — On July 19, President Moon Jae-in announced his administration’s new five-year plan for the country. Included in the blueprint were a host of policy modifications for rural and coastal areas. Beginning next year, ‘100 Won Taxi’ services will be offered throughout agricultural regions nationwide. 100 Won Taxis will take [...]
SEOUL, Jul. 20 (Korea Bizwire) — In response to the discovery of an animal believed to be infected with mad cow disease, the first discovery in the U.S. in five years, the Ministry of Agriculture, Food and Rural Affairs convened an emergency meeting with related agencies on July 19. According to the Ministry, the U.S. [...]
SEOUL, Jul. 20 (Korea Bizwire) — The South Korean government has decided to create a special task force that will report directly to the president to deal with heavy-handed practices committed by large corporations to the detriment of medium and small-sized businesses. The establishment of the “Euljiro Committee”, and the decision for President Moon to [...]
SEOUL, Jul. 19 (Korea Bizwire) — In a victory for animal lovers everywhere, the first legal proceedings of their kind in South Korea succeeded in the release of illegally captured Indo-Pacific bottlenose dolphins native to the seas of Jeju Island. The public’s attention was first drawn to the plight of illegally captured bottlenose dolphins when Jeju’s [...]
SEOUL, Jul. 19 (Korea Bizwire) — The labor union representing the employees of Hyundai Motor Company decided yesterday not to go on strike before the summer holiday season. Instead, it will focus on pushing through negotiations with Hyundai. The union is believed to have stated that “instead of going on strike or taking an antagonistic position [...]
SEOUL, Jul. 19 (Korea Bizwire) — South Korea’s leading online search company Naver announced that as of today, it will lift the 200-character limit put in place for “Papago”, its artificial intelligence powered translation service. By doing so, Naver has decided to challenge Google head on for supremacy in the Korean translation market. As the two [...]
SEOUL, Jul. 18 (Korea Bizwire) — The Ministry of Trade, Industry and Energy conducted its first patrols of major commercial districts yesterday as part of its efforts to regulate energy use. The patrols were held in collaboration with local authorities from 18 districts nationwide. Here’s a typical example of what a typical patrol looks like: in [...]
SEOUL, Jul. 18 (Korea Bizwire) — Gijang District’s ceramics village is slated to open a number of attractions based on Hans Christian Andersen’s fairy tales by the year 2020. Yesterday, Gijang District announced that it will build an Andersen Fairy Tale Village, Andersen Town, Movie Forest and Film Experience Sector. The entire establishment will be built on [...]