SEOUL, Dec. 15 (Korea Bizwire) — The government said Monday that sales of state-owned assets worth 30 billion won (US$20.3 million) will require mandatory prior reporting to the relevant standing committee of the National Assembly, amid concerns that public assets are being sold at undervalued prices. Under the measures announced by the Ministry of Economy [...]
SEOUL, Dec. 15 (Korea Bizwire) — The head of South Korea’s antitrust watchdog on Monday pledged to ensure that foreign companies do not face unequal treatment in the country, reaffirming the agency’s principle of non-discrimination. Ju Biung-ghi, chairman of the Fair Trade Commission (FTC), made such a remark during a meeting with the American Chamber [...]
SEOUL, Dec. 15 (Korea Bizwire) — South Korea is preparing to overhaul its public transit payment system to allow foreign visitors to ride buses and subways using the same credit cards they carry abroad, a shift aimed at easing one of the most persistent inconveniences for travelers. The Ministry of Land, Infrastructure and Transport has begun [...]
SEOUL, Dec. 15 (Korea Bizwire) — Early-stage entrepreneurs using artificial intelligence to solve industrial problems are beginning to see tangible results, propelled by TeX-Corps (Tech EXploration Corps) — a commercialization program modeled after the U.S. National Science Foundation’s I-Corps that pushes researchers to validate their ideas through rapid, intensive customer discovery. The program, designed to help [...]
BUSAN, Dec. 15 (Korea Bizwire) — South Korea’s Coast Guard has arrested a smuggling ring accused of importing thousands of counterfeit luxury goods from China and selling them online, prompting several global fashion houses to issue formal letters of appreciation — an unusually public response from brands that rarely acknowledge enforcement actions. The South Regional Coast [...]
SEOUL, Dec. 12 (Korea Bizwire) — South Korea’s government is preparing to introduce a special law aimed at tightening safety rules at construction sites and imposing harsher penalties for fatal accidents, the country’s land minister said Friday, as the sector continues to grapple with a steady rise in deadly workplace incidents. Land Minister Kim Yun-duk [...]
SEOUL, Dec. 12 (Korea Bizwire) — South Korea’s newly created media regulator said Friday it will open a transparency center next year to confront the spread of online disinformation, signaling an aggressive shift in how the government intends to police digital content. The announcement came as the Korea Media Communications Commission (KMCC) delivered its first [...]
SEOUL, Dec. 12 (Korea Bizwire) — A proposal that would grant the South Korean government authority over civilian access to the Demilitarized Zone — long controlled by the United Nations Command — is facing resistance from key ministries in Seoul and from the U.S.-led command itself. Lawmakers from the governing Democratic Party introduced the bill [...]
SEOUL, Dec. 12 (Korea Bizwire) — Science Minister Bae Kyung-hoon said Friday the government will seek to introduce punitive fines on businesses with repeated data breaches amid growing concern over personal information security. Bae made the remark during the Ministry of Science and ICT’s policy briefing to President Lee Jae Myung in the central city [...]
SEOUL, Dec. 12 (Korea Bizwire) — A large majority of South Koreans believe that maintaining peaceful coexistence with North Korea is more important than achieving reunification, according to a government survey released Thursday. The Unification Ministry’s poll found that 79.4 percent of respondents agreed that “peaceful coexistence without war is more important than reunification,” reflecting [...]