SEOUL, Sept. 10 (Korea Bizwire) — South Korea will remove cryptocurrency trading and brokerage from its list of industries barred from receiving venture business status, signaling a shift in how the government views the digital asset sector. The Ministry of SMEs and Startups said Tuesday that the Cabinet approved revisions to the Enforcement Decree of the [...]
SEOUL, Sept. 10 (Korea Bizwire) — South Korea’s government announced on Tuesday a sweeping overhaul of its employment permit system for foreign workers, pledging to relax restrictions on workplace changes and extend residency periods for those holding E-9 visas. The reforms also aim to tighten sanctions on employers found guilty of labor rights violations. At [...]
SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s central bank, in coordination with the government and the country’s largest lenders, is preparing to test the use of central bank digital currency (CBDC) for distributing public subsidies, a move officials say could curb misuse and improve accountability. According to financial industry sources, the six major banks [...]
SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s National Pension Service (NPS), one of the world’s largest institutional investors, has been navigating a delicate balance between maximizing shareholder returns and advancing responsible investment in its recent voting at foreign corporate annual meetings. According to filings with the U.S. Securities and Exchange Commission and its own [...]
SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s postal service is preparing a sweeping overhaul of its customer-facing operations, with plans to embed artificial intelligence across mail and financial services in an effort to modernize delivery, ease staffing shortages and improve efficiency. The Korea Post said Sunday it will commission a consulting project next year to [...]
SEOUL, Sept. 6 (Korea Bizwire) — South Korea’s judiciary is bracing for what many judges describe as the most sweeping attempt at judicial reform in decades, as the Supreme Court moves to gather the views of court leaders nationwide ahead of legislation being advanced by the ruling Democratic Party. The Supreme Court announced that it will [...]
SEOUL, Sept. 6 (Korea Bizwire) — South Korea’s Democratic Party on Friday unveiled plans to impose far heavier financial penalties on media outlets for publishing false or manipulated reports, vowing to pass the legislation before the Chuseok holiday on Oct. 6. At a press briefing, the party’s special committee on media reform said it would [...]
SEOUL, Sept. 4 (Korea Bizwire) — South Korea’s government announced a sweeping plan to eliminate dozens of everyday regulations deemed outdated or unreasonable, including cumbersome telecom service cancellations and male-only membership in a national civic group. The reforms were unveiled Tuesday at a policy coordination meeting chaired by Prime Minister Kim Min-seok, following the government’s [...]
SEOUL, Sept. 4 (Korea Bizwire) — The South Korean government is stepping up efforts to promote work-life balance, spotlighting companies that have embraced flexible schedules and reaped tangible benefits, from lower turnover to stronger hiring power. At an awards ceremony in Seoul on Wednesday, the Ministry of Employment and Labor honored 21 winners of its [...]
JEJU, South Korea, Sept. 3 (Korea Bizwire) — Jeju Island, already home to the nation’s first carbon-free “RE100 eggs,” has introduced another sustainability milestone: milk produced entirely with renewable energy. On Wednesday, Jeju Milk, an agricultural company based on the island, officially launched South Korea’s first RE100-certified milk, marking a significant step toward carbon neutrality in livestock [...]