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Archive by category Policies and Regulation

South Korea to Discuss Plans for Phasing Out Bear Farming and Bile Extraction

South Korea to Discuss Plans for Phasing Out Bear Farming and Bile Extraction

SEOUL, Apr. 29 (Korea Bizwire) – A public-private consultative body will convene on April 29 to explore collaborative strategies in anticipation of the impending 2026 ban on bear farming and bile extraction, the Ministry of Environment announced on April 28. Attending the meeting will be representatives from the Ministry of Environment, the Korea National Park Service, [...]

Break Down of South Korea’s Ambitious Initiatives to Lead in Cutting-Edge Technologies

Break Down of South Korea’s Ambitious Initiatives to Lead in Cutting-Edge Technologies

SEOUL, April 25 (Korea Bizwire) – South Korea’s government has finalized its blueprint to establish global leadership in three pivotal areas it deems “game changers” for the future: artificial intelligence semiconductors, advanced biotechnology and quantum technology. The Presidential Advisory Council on Science & Technology, the nation’s top decision-making body for science and technology issues chaired by [...]

South Korea to Pursue Global Dominance in AI Chip, Advanced Bio, and Quantum Technologies, States Government

South Korea to Pursue Global Dominance in AI Chip, Advanced Bio, and Quantum Technologies, States Government

SEOUL, April 25 (Korea Bizwire) — South Korea will launch an initiative to become one of three leading nations in the so-called game-changer industries that include artificial intelligence (AI) chip, advanced biology and quantum technologies by 2030, the science ministry said Thursday. The Presidential Advisory Council on Science & Technology held a meeting and decided [...]

Gyeonggi Province to Subsidize Pet Insurance for Adopted Rescue Animals

Gyeonggi Province to Subsidize Pet Insurance for Adopted Rescue Animals

UIJONGBU, Apr. 24 (Korea Bizwire) – The Gyeonggi provincial government has announced a new initiative to support pet owners who adopt rescue animals by subsidizing pet insurance premiums. The program, called the “Adopted Animal Assurance Insurance Support Project,” aims to reduce the financial burden of caring for adopted animals and promote a culture of pet adoption. [...]

BOK Chief Suggests Potential Stabilization of Won-Dollar Exchange Rate Pending Middle East Conflict De-escalation

BOK Chief Suggests Potential Stabilization of Won-Dollar Exchange Rate Pending Middle East Conflict De-escalation

WASHINGTON, April 19 (Korea Bizwire) – The won-dollar exchange rate may move toward stabilization if tensions in the Middle East do not escalate further, the chief of South Korea’s central bank forecast Friday, noting “many uncertainties” stemming from developments in the region. Bank of Korea (BOK) Gov. Rhee Chang-yong made the prediction as concerns over [...]

South Korea Urges Chinese E-commerce Giants to Adhere to Personal Data Protection Law

South Korea Urges Chinese E-commerce Giants to Adhere to Personal Data Protection Law

SEOUL, Apr. 18 (Korea Bizwire) – The South Korean private information protection watchdog requested Chinese e-commerce giants Thursday to faithfully comply with the South Korean law on personal data protection, the agency said. Personal Information Protection Commission (PIPC) Vice Chairperson Choi Jang-hyuk made the request during a meeting in Beijing with officials from AliExpress, Temu [...]

South Korean City Offers Cash Bonus to Ease Financial Burden of Pregnancy

South Korean City Offers Cash Bonus to Ease Financial Burden of Pregnancy

YEOSU, Apr. 18 (Korea Bizwire) –In an effort to alleviate the financial strain associated with pregnancy, the city of Yeosu in South Jeolla Province has announced that it will provide an allowance of 500,000 won to expectant mothers. According to Yeosu officials, previous support measures related to pregnancy, including a pregnancy confirmation fee, transportation expenses [...]

South Korea Aims to Curb Online Gambling Games Featuring Admiral Yi Sun-sin

South Korea Aims to Curb Online Gambling Games Featuring Admiral Yi Sun-sin

SEOUL, Apr. 17 (Korea Bizwire) – As controversy swirled over the global circulation of an online slot machine game featuring the revered Korean naval commander Admiral Yi Sun-sin, the Korea Communications Standards Commission vowed to actively monitor and review such offerings to prevent their proliferation. The commission first requested that platform operators like YouTube enforce self-regulation [...]

S. Korea to Extend Fuel Tax Cut through June amid Middle East Tensions

S. Korea to Extend Fuel Tax Cut through June amid Middle East Tensions

SEOUL, Apr. 15 (Korea Bizwire) – The government will extend the tax cut on fuel consumption by an additional two months amid growing tensions in the Middle East, Finance Minister Choi Sang-mok said Monday. South Korea has applied a 25 percent discount on the consumption of gasoline and a 37 percent discount on the consumption [...]