SEOUL, July 3 (Korea Bizwire) – South Korean financial regulators have imposed a record fine of 27.1 billion won on two subsidiaries of a global investment bank for illegal short-selling practices involving transactions worth approximately 100 billion won. The Financial Services Commission’s Securities and Futures Commission announced on July 3 that it had voted to levy [...]
SEOUL, July 3 (Korea Bizwire) – The Seoul city government said Wednesday it will significantly beef up the strength of pedestrian guardrails and take other safety measures after a deadly car crash that left nine people dead earlier this week. On Monday night, a sedan driven by a 68-year-old darted in the wrong direction for [...]
SEOUL, Jul. 3 (Korea Bizwire) – The Game Rating and Administrative Committee of South Korea has intervened to stop a controversial promotional event by a domestic game developer that offered a luxury car as a prize for its newly launched online game. According to sources familiar with the matter, the committee recently rejected a content modification [...]
SEOUL, Jul. 3 (Korea Bizwire) — President Yoon Suk Yeol on Wednesday announced a 25 trillion-won (US$18 billion) package of support measures for struggling micro business owners, saying providing tailored support is better than universal cash handouts. Yoon unveiled the package during a meeting to discuss the direction of economic policy in the second half, [...]
GWANGJU, Jul. 3 (Korea Bizwire) – In a groundbreaking move, the Gwangju Goryeoin Village in South Korea has launched the country’s first Russian-language emergency alert system, addressing a long-standing communication gap for its ethnic Korean residents from post-Soviet states. On June 22, residents of the Goryeoin Village in Gwangsan District, Gwangju, received their first heavy rain [...]
SEOUL, Jul. 3 (Korea Bizwire) – In a groundbreaking move, Seoul’s Jongno district has designated the iconic Bukchon Hanok Village as South Korea’s first “Special Management Area,” introducing strict regulations to balance tourism with residents’ quality of life. The new measures, set to take effect as early as March next year, will limit tourist access and [...]
SEOUL, Jul. 2 (Korea Bizwire) – The Seoul Metropolitan Government announced on July 1 that it will introduce reusable containers at Samsung Medical Center’s funeral hall starting this month. This marks the first instance of a large-scale funeral facility in a top-tier general hospital participating in Seoul’s reusable container policy. Last year, the city government unveiled [...]
SEOUL, July 1 (Korea Bizwire) – The government plans to announce measures to strengthen industrial safety for foreign workers later this month following last week’s deadly fire at a battery plant that claimed 23 lives, including 18 foreigners, the labor minister said Monday. Seventeen Chinese nationals and one from Laos were killed in the fire [...]
SEOUL, July 1 (Korea Bizwire) – South Korea’s data protection watchdog is nearing the completion of its probe into the Chinese e-commerce firms AliExpress and Temu over consumer data protection and will likely take actions soon upon its results, its chief said Monday. The investigation into the two companies “has been completed,” Ko Hak-soo, the [...]
SEOUL, Jul. 1 (Korea Bizwire) — South Korea will launch a new ministry of population strategy to address low birth rates and a rapidly aging population, which have emerged as some of the starkest challenges facing the country, officials said Monday. The government unveiled the plan following high-level meetings with the ruling party, saying that [...]