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Archive by category Policies and Regulation

Medical School Quota Hike ‘Prerequisite’ for Medical Service Normalization: Interior Minister

SEOUL, Mar. 27 (Korea Bizwire) — Increasing the nationwide medical school admission quota is a “prerequisite” for the normalization of the country’s medical services, the interior minister said Wednesday, sticking to the government’s 2,000-seat expansion despite escalating protests from doctors. Interior Minister Lee Sang-min made the remark during a government meeting as the government-medical standoff [...]

Regulator to Introduce New Rules to Protect Virtual Asset Users

SEOUL, Mar. 27 (Korea Bizwire) — The financial regulator announced plans Wednesday to introduce new rules on the investigation and punishment of illegal transactions involving virtual assets. The new rules will be implemented in tandem with the new Virtual Asset Users Protection Act, set to be enacted July 19, according to the Financial Services Commission [...]

Paju Boosts Birth Grants to Tackle Low Fertility Rate

PAJU, Mar. 27 (Korea Bizwire) – In a bid to alleviate the financial burden on families and encourage more childbirths, the city of Paju is drastically raising government payouts for newborns, becoming one of the most generous municipalities in South Korea for birth incentives. Paju, a satellite city of Seoul in Gyeonggi Province, announced on March [...]

South Korean Exporters Lag in Readiness for EU’s Expanding ESG Regulations

SEOUL, Mar. 27 (Korea Bizwire) – As the European Union expands its environmental, social, and governance (ESG) regulations on exports, South Korean companies appear to be lagging in their awareness and preparedness, according to a recent survey conducted by the Korea Chamber of Commerce and Industry (KCCI). The survey, conducted with 205 domestic exporting firms, revealed [...]

Seoul Becomes First City to Earn Carbon Credits From Public Bike Sharing Program

SEOUL, Mar. 27 (Korea Bizwire) – South Korea’s capital has become the first local government in the country to secure certified carbon emissions credits through its public bike-sharing program, opening a new revenue stream as it expands eco-friendly transportation. The Seoul Metropolitan Government announced on March 26 that it had received approval to trade carbon credits [...]

South Korea Unveils Comprehensive Initiatives to Foster Dignified and Supportive Environment for Rapidly Aging Population

SEOUL, Mar. 26 (Korea Bizwire) – As South Korea prepares for an unprecedented milestone of 10 million elderly citizens, the government has unveiled a sweeping set of measures aimed at enhancing housing options, improving care services, and fostering a supportive environment to meet the evolving needs of its rapidly aging demographic. At the 22nd Public [...]

Hotline Opens to Protect Medical Students from Peer Bullying

SEOUL, Mar. 26 (Korea Bizwire) — The education ministry opened a hotline on Tuesday to protect medical students wanting to return to classes from peer bullying from other students boycotting classes in protest of the government’s increase of the medical school quota. The move came amid reported cases of medical students unwillingly joining the ongoing [...]

Cheongju to Embrace Reusable Containers at Upcoming Food Truck Festival, Reducing Waste

CHEONGJU, Mar. 26 (Korea Bizwire) — The city of Cheongju has announced plans to actively promote the use of reusable containers at the upcoming “Food Truck Festival with Cherry Blossoms,” scheduled to commence on March 29. This initiative aims to minimize waste generation and foster a more sustainable event. According to the city’s plan, the [...]

Ambitious ‘Green Island Project’ Aims to Transform Ulleungdo into Sustainable Eco-Paradise

ANDONG, Mar. 26 (Korea Bizwire) – In a bid to create a sustainable and thriving future for Ulleungdo, a picturesque island off the east coast of South Korea, the North Gyeongsang provincial government and Ulleung County have launched an ambitious “Green Island Project” in partnership with universities, companies, and research institutes. On March 25, 11 entities [...]

South Korean Government Launches ‘Kiosk UI Platform’ to Improve Accessibility for Elderly and Disabled Users

SEOUL, Mar. 25 (Korea Bizwire) –The Ministry of Science and ICT (MSIT) has announced the launch of the ‘Kiosk UI Platform’ starting March 26, aimed at simplifying the development of accessible kiosks that ensure information access for the elderly and disabled communities. To create user-friendly kiosks for all citizens, the MSIT has established UI design [...]