SEOUL, May 17 (Korea Bizwire) – South Korea will prohibit direct overseas purchases of products without safety certifications for 80 items that could potentially affect public health and safety, the government announced on May 16. At a meeting of ministers handling state affairs at the Incheon Airport Customs headquarters, Prime Minister Han Duck-soo unveiled measures to [...]
SEOUL, May 17 (Korea Bizwire) — South Korea will use the term “national heritage” instead of “cultural property,” a term that had been in use for more than 60 years, as a new law came into force Friday. Under the new Framework Act on National Heritage, the governing body overseeing cultural heritage matters, formerly the [...]
SEOUL, May 16 (Korea Bizwire) – South Korea’s industry ministry said Thursday it plans to make a proactive move to promote the use of wind power and solar energy in line with efforts to harness renewable sources to achieve carbon neutrality. Under this goal, the government plans to supply renewable energy production facilities with a [...]
SEOUL, May 16 (Korea Bizwire) – The Seoul city government said Thursday it will introduce a daily transit pass for tourists in July, offering unlimited access to the city’s subways and buses for a temporary period in the latest move to enhance the city’s competitiveness as a global tourist spot. The Seoul metropolitan government said [...]
SEOUL, May 16 (Korea Bizwire) — South Korea’s industry ministry said Thursday it plans to make proactive efforts to help manufacturing firms roll out planned investments without delay amid looming challenges in the business environment. The announcement came amid growing uncertainties in the market, including prolonged monetary tightening, which may have an adverse impact on [...]
SEOUL, May 15 (Korea Bizwire) – The antitrust regulator said Wednesday it has decided to add six more business groups to the list of conglomerates subject to tighter supervision, including K-pop powerhouse Hybe. The number of conglomerates on the watchlist came to 88, which have 3,318 affiliates under their wings combined, compared with last year’s [...]
SEOUL, May 15 (Korea Bizwire) –The government plans to amend tobacco-related laws to designate synthetic nicotine as a type of tobacco in order to regulate the product category seeing growing popularity among young smokers, according to officials Wednesday. The Ministry of Health and Welfare and the Ministry of Economy and Finance plan to push for [...]
SEOUL, May 14 (Korea Bizwire) – As the South Korean government accelerates research into the potential hazards of synthetic nicotine to determine regulatory measures, attention is turning to whether these products could be subject to tobacco taxes. If synthetic nicotine is included under the Tobacco Business Act’s regulatory purview, liquid-based synthetic nicotine products, which have so [...]
SEOUL, May 13 (Korea Bizwire) – The South Korean antitrust regulator said Monday it signed agreements with the Chinese retail platforms AliExpress and Temu meant to strive to prevent their selling of harmful products and better protect consumers. The move came as the customs agency found that some of the products sold on AliExpress, owned [...]
SEOUL, May 13 (Korea Bizwire) – The new chief of the military recruitment agency pledged Monday to push for changes in the country’s supplementary military system as questions arose over its fairness with an exemption of top athletes and musicians from conscription. Kim Jong-cheol, the new commissioner of the Military Manpower Administration, made the remark [...]