SEOUL, Oct. 23 (Korea Bizwire) – New passenger cars and small commercial vehicles in South Korea will be required to be equipped with pedal misuse prevention systems starting in 2029, a move aimed at reducing accidents caused by unintended accelerations, the transport ministry said Thursday. Under the government’s plan to revise the country’s automobile safety [...]
SEOUL, Oct. 23 (Korea Bizwire) — Hyundai’s all-electric Ioniq 9 has received the highest safety rating among large sport utility vehicles in this year’s Korean New Car Assessment Program (KNCAP), while Ford’s Explorer placed last, according to results released Thusday by the Ministry of Land, Infrastructure and Transport and the Korea Transportation Safety Authority. The evaluation [...]
SEOUL, Oct. 23 (Korea Bizwire) — Porsche Korea has unveiled the 911 Spirit 70, a limited-edition reinterpretation of the brand’s classic design heritage, marking its first domestic appearance. The 911 Spirit 70 is the third model in Porsche’s Heritage Design Strategy, blending vintage aesthetics with modern hybrid performance. Based on the 911 Carrera GTS Cabriolet Hybrid, [...]
SEOUL, Oct. 23 (Korea Bizwire) — In a bid to merge urban mobility with wellness culture, the Seoul Metropolitan Government has transformed parts of three subway stations into fitness and leisure spaces for runners, offering free access to facilities that blend convenience with community. The new “Runner’s Base” zones — located at Gwanghwamun Station (Line 5), [...]
Related: Korea to Introduce First-Ever “Life Insurance Pension” Allowing Policyholders to Receive Death Benefits While Alive Understanding the Policy Shift Beginning October 30, South Koreans will be able to access a portion of their life insurance death benefits while still alive — transforming a traditionally posthumous payout into a living financial asset. The Financial Services Commission [...]
SEOUL, Oct. 23 (Korea Bizwire) — Beginning October 30, South Koreans will, for the first time, be able to convert death benefits from their life insurance policies into a steady stream of pension-style payments while still alive — a move regulators hope will reshape the country’s aging-era financial landscape. The Financial Services Commission (FSC) announced [...]
SEOUL, Oct. 23 (Korea Bizwire) — South Korea remains one of only two major economies — alongside Japan — where large and small firms receive markedly different levels of tax incentives for research and development (R&D) and where unclaimed credits cannot be directly refunded, according to a new analysis by the Korea Chamber of Commerce and [...]
SEJONG, Oct. 23 (Korea Bizwire) — South Korea’s non-regular workforce has climbed to its highest level on record, surpassing 8.56 million as of August, with older workers driving much of the increase and the wage gap between regular and non-regular employees widening to an all-time high, government data showed Wednesday. According to the National Data Office’s [...]
SEOUL, Oct. 23(Korea Bizwire) — A modest tray of white rice, kimchi stew with tuna, bulgogi, stir-fried potatoes, dried seaweed, cherry tomatoes, and a banana might not seem revolutionary. Yet in South Korea’s evolving disaster management system, this humble combination marks a quiet but meaningful shift. The Korean Red Cross, in partnership with the Ministry of [...]
SEOUL, Oct. 23 (Korea Bizwire) — South Korea will overhaul its market surveillance framework this month, moving from an “account-based” to an “individual-based” monitoring system in an effort to better detect unfair trading and improve enforcement efficiency, financial regulators announced Wednesday. The Financial Services Commission (FSC) said that amendments to the Enforcement Decree of the Capital [...]