SEOUL, Feb. 4 (Korea Bizwire) — South Korea plans to exempt short-term foreign agricultural and fisheries workers from mandatory long-term care insurance contributions, in a move aimed at easing labor costs in rural communities struggling with chronic worker shortages. The Ministry of Health and Welfare said Wednesday it has proposed a revision to the enforcement decree [...]
SEOUL, Feb. 4 (Korea Bizwire) — South Korea’s trade ministry convened executives from some of the country’s largest corporations on Wednesday to prepare for sweeping new European rules that would require multinational companies to police human rights and environmental risks across their global operations. The meeting, hosted by the Ministry of Trade, Industry and Resources, brought [...]
SEOUL, Feb. 3 (Korea Bizwire) — South Korea will begin enforcing a legal ban on students’ use of mobile phones during class this spring, but educators are warning that inconsistent rules across schools could sow confusion and spark complaints from parents. The Education Ministry said late last month that it had issued a revised administrative [...]
SEOUL, Feb. 2 (Korea Bizwire) – South Korea’s main bourse operator said Monday it will start operating an artificial intelligence (AI)-based market monitoring system this week, to strengthen its detection of unfair stock trading. The new system, set to be introduced Tuesday, comes in line with a set of measures announced in July by the [...]
SEOUL, Feb. 2 (Korea Bizwire) — South Korea’s financial authorities are preparing to allow domestically listed leveraged exchange-traded funds tied to individual stocks, a move aimed at drawing back retail investors who have increasingly turned to overseas markets for higher-risk products. The Financial Services Commission announced last week that it would revise enforcement decrees under the [...]
SEOUL, Feb. 1 (Korea Bizwire) — South Korea’s National Tax Service said it will begin a nationwide review of large bakery cafés amid growing concerns that the businesses are being used by wealthy families to sidestep inheritance and gift taxes. The agency announced last week that it would conduct a fact-finding investigation into large-scale bakery [...]
SEOUL, Jan. 30 (Korea Bizwire) — South Korea’s financial authorities on Wednesday approved a package of regulatory exemptions aimed at improving access to financial services for foreign visitors and expanding funding options for borrowers with weaker credit profiles. The Financial Services Commission said it designated 34 new initiatives as innovative financial services, including a plan to [...]
SEOUL, Jan. 30 (Korea Bizwire) — South Korea’s National Assembly on Thursday approved a series of labor law revisions aimed at easing short-term child care burdens on working parents and strengthening workplace safety standards, the Labor Ministry said. Under the new measures, employees with children aged 8 or younger — or up to the second grade [...]
SEOUL, Jan. 30 (Korea Bizwire) — South Korea’s National Assembly on Thursday approved sweeping revisions to cultural and copyright laws aimed at curbing ticket scalping and illegal online content distribution, marking one of the government’s strongest efforts yet to protect consumers and the country’s creative industries. The legislation, passed during a plenary session, amends the Performance [...]
SEOUL, Jan. 29 (Korea Bizwire) — South Korea’s National Assembly on Thursday approved a special bill designed to expand government support for the country’s semiconductor industry, underscoring the sector’s growing importance to the nation’s export-driven economy. Passed during a plenary session, the legislation establishes a legal framework for developing large-scale semiconductor clusters and strengthening related infrastructure, [...]