SEOUL, Oct. 2 (Korea Bizwire) — South Korea risks falling short on hotel capacity as the number of foreign visitors is set to surpass 20 million this year, a national audit has found. The Board of Audit and Inspection said Wednesday that the Ministry of Culture, Sports and Tourism had failed to establish clear standards [...]
SEOUL, Oct. 2 (Korea Bizwire) — South Korea’s government has designated nearly 100 new transmission and substation projects as “national backbone power grid facilities,” clearing the way for streamlined approvals and fast-tracked construction under a special power grid law that took effect last month. The move, officials said Wednesday, is part of an ambitious plan [...]
SEOUL, Oct. 2 (Korea Bizwire) — South Korea’s leading association of listed firms has voiced opposition to a proposed across-the-board corporate tax hike, arguing it would further burden businesses already struggling with weak global demand and a downturn in the semiconductor sector. The Korea Listed Companies Association (KLCA) said Tuesday it had submitted a formal [...]
SEOUL, Oct. 2 (Korea Bizwire) — South Korea’s government said Wednesday it will roll out more than 500 projects over the next five years to weave artificial intelligence into the nation’s industrial base, part of President Lee Jae-myung’s bid to build what he calls a “super-innovation economy.” Industry Minister Kim Jung-kwan outlined the plan at [...]
JEJU, Oct. 1 (Korea Bizwire) — Jeju Province’s pilot program encouraging food delivery in reusable containers has surpassed 2,000 orders in less than two months, signaling strong public support for the island’s ambitious campaign to curb single-use plastics. Launched on Aug. 13 in Jeju City’s Yeon-dong and Nohyeong-dong districts, the “Yonggi-inneun Jumun” (“Courageous Order”) service allows [...]
SEOUL, Oct. 1 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday that subscription-based platforms, including online video services, were the most common offenders in its latest crackdown on so-called “dark patterns,” deceptive online practices that make it difficult for consumers to cancel services or avoid hidden charges. The Korea Fair Trade Commission (KFTC) and [...]
SEOUL, Oct. 1 (Korea Bizwire) – South Korea and the United States have reaffirmed a fundamental principle to avoid manipulating exchange rates and to monitor the “stability” of the foreign exchange (FX) market, Seoul’s finance ministry said Wednesday. The two countries have agreed to “avoid manipulating exchange rates or the international monetary system to prevent [...]
JEJU, Sept. 30 (Korea Bizwire) — Jeju Province will roll out a three-year pilot program to repurpose used electric-vehicle batteries into agricultural machinery and energy storage systems, underscoring South Korea’s broader push to strengthen its battery recycling industry. The project, set to run through 2027, will supply 100 devices—including farm equipment, transport robots, and streetlights [...]
SEOUL, Sept. 28 (Korea Bizwire) — The South Korean government is drawing criticism for imposing strict disaster-response requirements on private companies while failing to safeguard its own systems, after a fire at a state-run data center crippled key administrative services. According to a science ministry report submitted to a ruling party lawmaker, the government plans [...]
BUSAN, Sept. 28 (Korea Bizwire) — South Korea has declared its first national charter on animal protection, a symbolic yet landmark step in recognizing animals as living beings rather than property. While the document carries no legal force, officials and advocates say it sets out core values to guide future policy and public awareness on animal [...]