SEOUL, Oct. 28 (Korea Bizwire) — South Korea will begin subsidizing malpractice insurance premiums for doctors working in critical but increasingly underserved medical specialties, the government announced Monday, in an effort to ease legal burdens that have driven many physicians away from essential care. Under the new program, the state will cover 50 to 75 percent [...]
SEOUL, Oct. 28 (Korea Bizwire) — South Korea plans to tighten oversight of blockbuster obesity treatments such as Wegovy and Mounjaro, responding to a surge in prescriptions for cosmetic weight loss among people without medical need, the government said Monday. The Ministry of Health and Welfare said it will work with the country’s drug regulator to [...]
JOINT BASE ANDREWS, Maryland, Oct. 27 (Korea Bizwire) – U.S. Defense Secretary Pete Hegseth began a tour of the Indo-Pacific on Monday, a trip that unfolds like a map of American strategic anxieties: Hawaii, Japan, Malaysia, Vietnam — and finally South Korea. His message is familiar, but increasingly urgent. The Pentagon says Hegseth intends to press [...]
SEOUL, Oct. 27 (Korea Bizwire) – South Korea’s central bank is signaling that any won-pegged stablecoins introduced into the domestic market should be issued through regulated banks, warning that private issuers could threaten financial stability and weaken monetary control. Stablecoins could “unlock new possibilities” for the economy, the Bank of Korea said in a report [...]
SEJONG, Oct. 26 (Korea Bizwire) — A major offshore gas development project in the East Sea has been thrown into uncertainty as the South Korean government moves to reassess plans that the state-run Korea National Oil Corporation (KNOC) had been pursuing with British oil giant BP. Industry officials said Sunday that the Ministry of Trade, Industry [...]
SEOUL, Oct. 23 (Korea Bizwire) — Starting Thursday, South Korea began enforcing a revised labor law that allows employees to seek punitive damages of up to three times the amount of unpaid wages from employers who intentionally withhold pay, as part of a broader effort to crack down on chronic wage arrears. The Ministry of Employment [...]
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) — 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), [...]
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) — 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 [...]