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Archive by category Policy and Regulation

Stricter Sentencing Guidelines for Animal Abuse, Sexual Crimes, and Fraud Set for July in South Korea

SEOUL, March 26 (Korea Bizwire) — South Korea’s Supreme Court Sentencing Commission announced on Tuesday new sentencing guidelines aimed at strengthening penalties for animal abuse, sexual offenses, large-scale fraud, and violations of electronic financial transaction laws. The updated guidelines, finalized during the commission’s 137th meeting on March 24, 2025, will apply to crimes prosecuted from [...]

S. Korea to Provide ‘All-out’ Support to Export Firms amid Global Trade Uncertainties: Ministry

SEOUL, March 26 (Korea Bizwire) – The government will join hands with export-related agencies to provide “all-out” support to South Korean companies in export business, the industry ministry said Wednesday. The Ministry of Trade, Industry and Energy held a joint conference in Seoul with various export-related agencies, including the Korea Customs Service, the Korean Intellectual [...]

South Korea to Help Mongolia Modernize Address System in $8 Million Project

SEOUL, March 26 (Korea Bizwire) — The South Korean Ministry of Interior and Safety announced on March 25 that it has dispatched an address system delegation to Mongolia, responding to the Mongolian government’s formal request to implement the Korean-style address system (K-Address). Led by Deputy Minister Kim Min-jae, the four-member delegation met with Solongoo Bayarsaikhan, [...]

Gov’t Targets 20% Recycling Rate for Critical Minerals by 2030

SEOUL, March 26 (Korea Bizwire) — South Korea unveiled an ambitious plan on Tuesday to boost the recycling rate of key strategic minerals to 20% by 2030, as part of its broader effort to secure critical supply chains and position itself in the rapidly expanding global market for resource recovery. During the fourth meeting of the [...]

Gov’t Expands Urea Stockpiles and Diversifies Imports to Secure Auto Supply Chain

SEJONG, South Korea, March 26 (Korea Bizwire) — The South Korean government announced on Tuesday plans to expand its strategic stockpile of automotive-grade urea and diversify import sources to prevent future supply disruptions. The move comes as part of broader efforts to strengthen the nation’s industrial supply chains under growing geopolitical and trade uncertainties in 2025. [...]

Seoul to Create 3D Digital Maps of Traditional Markets in Landmark Navigation Project

SEOUL, March 25 (Korea Bizwire) — The Seoul Metropolitan Government announced on March 24 plans to develop sophisticated three-dimensional maps of traditional markets, addressing the long-standing challenge of locating specific vendors in these sprawling commercial spaces that lack the precise addressing systems found in modern buildings. The initiative, set to be completed by the end of this [...]

Seoul Joins Controversial Pilot Program for Hiring Foreign Domestic Workers Below Minimum Wage

SEOUL, March 24 (Korea Bizwire) — The Seoul Metropolitan Government announced it will participate in a government-led pilot program allowing foreign domestic workers to be hired without the application of South Korea’s minimum wage law, sparking controversy over potential labor rights concerns. The initiative, jointly managed by Seoul City and the Ministry of Justice, aims [...]

South Korean Shipbuilding Hub Expands Support for Growing Foreign Worker Population

ULSAN, March 24 (Korea Bizwire) — With South Korea’s shipbuilding industry experiencing its strongest boom in 15 years, the Dong-gu district of Ulsan is taking steps to better accommodate its rapidly growing foreign population with new comprehensive support measures. The district council recently passed amendments to its foreign resident support ordinance, requiring the local government to develop, [...]

Gov’t to Provide Incentives to Public Entities Entering Wind Power Market

SEOUL, March 20 (Korea Bizwire) — The government will provide incentives to public entities entering the offshore wind power market as part of efforts to promote the growth of the renewable energy industry, the industry ministry said Thursday. Public institutions and companies that make a bid for the government’s offshore wind power development project will [...]

Gov’t Moves to Shield Steel Industry from U.S. Tariffs and Chinese Dumping

SEOUL, March 20 (Korea Bizwire) — The South Korean government has unveiled a comprehensive plan to protect its steel industry from mounting trade risks, including the recent 25% tariff imposed by the Trump administration in the United States and an influx of low-cost Chinese steel. The Ministry of Trade, Industry and Energy announced on Wednesday [...]