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Archive by category Policy and Regulation

New Public Database to Expose Financial Ties Between Doctors and Pharma Firms

SEOUL, Nov. 18 (Korea Bizwire) — South Korea’s Health Insurance Review and Assessment Service (HIRA) on Monday launched a new centralized platform designed to bring unprecedented transparency to financial interactions between pharmaceutical and medical device companies and healthcare professionals. The “Expense Report Management System,” formally opening Nov. 17, is the country’s first unified public database allowing [...]

South Korea Moves to Tighten Executive Pay Disclosure and Boost Shareholder Rights

SEOUL, Nov. 17 (Korea Bizwire) — South Korea plans to impose stricter disclosure requirements on listed companies’ executive compensation and expand access to shareholder voting information, in a move aimed at improving market transparency and strengthening investor rights, the Financial Services Commission (FSC) announced Sunday. Under the reform package — titled Measures to Improve Corporate Disclosure [...]

Culture Minister Vows to Block High-Rise Project Threatening Jongmyo Shrine

SEOUL, Nov. 17 (Korea Bizwire) – Culture Minister Chae Hwi-young has said the government will deploy every measure permitted under law to block plans for ultra-high-rise buildings facing Jongmyo Shrine, a UNESCO World Heritage site in central Seoul. The project has drawn controversy because Jongmyo, a 14th-century royal ancestral shrine from the Joseon Dynasty (1392-1910), [...]

Korea Sees Uptick in Pregnancy Support Requests, Fueling Hopes of a Modest Baby Boom

SEOUL, Nov. 16 (Korea Bizwire) – Applications for vouchers provided to pregnant women increased 8.1 percent from a year earlier in the first nine months of this year, data showed Sunday, in a possible sign of a continued rebound in the number of newborns in a country facing one of the world’s lowest birth rates. [...]

Seoul and Washington Move to Accelerate Wartime OPCON Transfer

SEOUL, Nov. 14 (Korea Bizwire) — South Korea and the United States have agreed to accelerate long-stalled efforts to transfer wartime operational control (OPCON) to Seoul, a move that aligns with President Lee Jae-myung’s pledge to complete the transition before the end of his term in 2030. The commitment was included in a joint fact sheet [...]

Washington Approves Seoul’s Nuclear Submarine Push, Supports Enrichment Rights

WASHINGTON, Nov. 13 (Korea Bizwire) – The United States has formally endorsed South Korea’s long-standing ambition to build nuclear-powered submarines and expressed support for Seoul’s push to acquire civil uranium enrichment and spent-fuel reprocessing capabilities, according to a joint fact sheet released Thursday. The document, issued by the White House, summarizes the outcomes of two [...]

Emergency Loans for Seniors Get Systemwide Makeover Amid Rising Need

SEOUL, Nov. 14 (Korea Bizwire) — South Korea’s National Pension Service (NPS) plans a sweeping overhaul of its emergency loan program for seniors, known as the Silver Loan, aiming to improve convenience and ensure that aid reaches those most in need. According to a briefing the NPS submitted to the National Assembly’s audit at the [...]

Health Agency Issues Updated Diabetes Prevention Rules as Cases Continue to Rise

SEOUL, Nov. 14 (Korea Bizwire) — South Korea’s Disease Control and Prevention Agency (KDCA) on Friday unveiled a new six-point set of diabetes prevention guidelines, urging the public to adopt healthier daily habits as the country observes World Diabetes Day. Diabetes — caused by insufficient insulin production or impaired insulin function — remains one of the [...]

Gov’t to Publish Detailed List of Tobacco Toxins to Strengthen Public Health Safeguards

SEOUL, Nov. 14 (Korea Bizwire) — South Korea will begin publicly disclosing detailed lists of harmful substances contained in tobacco products starting next year, as part of its expanded efforts to strengthen public health protections. The Ministry of Health and Welfare and the Ministry of Food and Drug Safety said Thursday that the decision was approved [...]

Seoul Moves Forward With First Comprehensive AI Governance Framework

SEOUL, Nov. 13 (Korea Bizwire) — South Korea’s Ministry of Science and ICT said Wednesday it will begin a public review of the enforcement decree for the nation’s landmark Artificial Intelligence Basic Act, set to take effect on January 22, 2026. The draft legislation, open for comment until December 22, outlines the country’s first comprehensive regulatory [...]