SEOUL, June 16 (Korea Bizwire) — South Korea said Thursday it will ease regulations and lower corporate taxes in the first major economic policy step by the government of President Yoon Suk-yeol, as it aims to support private sector-led economic growth amid heightened economic uncertainty. Facing economic headwinds, the government lowered its 2022 economic growth [...]
SEOUL, June 16 (Korea Bizwire) — Cash as a means of payment is disappearing rapidly in people’s daily lives as various cards and electronic payments are increasingly used. The amount of cash the households used to purchase goods or services last year averaged 510,000 won (US$398) per month, down 25.4 percent compared to the figure [...]
SEOUL, June 15 (Korea Bizwire) — Outdoor public swimming pools and water sports facilities by the Han River in Seoul will reopen later this month after more than two years of closure due to the pandemic, city government officials said Wednesday. The Seoul Metropolitan Government said four swimming pools and two facility zones by the [...]
SEOUL, June 15 (Korea Bizwire) — The Seoul city government will provide education fee support to kindergartens with foreign children that are suffering from financial difficulties stemming from the prolonged pandemic, officials said Wednesday. Under an emergency handout, the city government will cover half of education fees of 1,556 foreign children enrolled in 551 national, [...]
SEOUL, June 15 (Korea Bizwire) — South Korea reported job additions for the 15th consecutive month in May as economic recovery momentum has been extended despite heightened global uncertainty, data showed Wednesday. The number of employed people came to 28.49 million last month, up 935,000 from a year earlier, according to the data compiled by [...]
SEOUL, June 15 (Korea Bizwire) — A paid sick leave system guaranteeing 60 percent of the minimum wage as sick pay will go into effect next month for a one-year trial in six cities across the nation, Interior Minister Lee Sang-min said Wednesday. The minister made the remarks during a government COVID-19 response meeting, saying [...]
SEOUL, June 15 (Korea Bizwire) — While parents with toddlers or young children believe that child-rearing should be shared between husband and wife, women still take on most of the responsibilities of child-rearing in reality, a poll showed Tuesday. The Korea Institute of Child Care and Education conducted a nationwide survey of 1,228 parents with [...]
SEOUL, June 15 (Korea Bizwire) — A recent study showed that carbon emissions may further exacerbate heavy showers. The Korea Meteorological Administration and the Seoul-based APEC Climate Center revealed Tuesday the forecast for extreme rainfall throughout 26 regions in the country. In a ‘high carbon scenario’ (SSP5-8.5), extreme rainfall will increase in strength by approximately [...]
SEOUL, June 15 (Korea Bizwire) — The government has cleared the way for the launch of taxi sharing services although the service will be available only to passengers who are of the same gender. The Ministry of Land, Infrastructure and Transport announced that the new enforcement ordinance of the taxi industry development law will take [...]
SEOUL, June 14 (Korea Bizwire) — The government will push for a speedy influx of immigrant workers to help alleviate labor shortages in farming, fishing and other industries in the wake of COVID-19, officials said Tuesday. Farms, fisheries and small-size firms, often reliant on immigrant workers, have been experiencing labor shortages in the wake of [...]