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As Inflation Bites, South Korean Households Cut Back on Private Tutoring

As Inflation Bites, South Korean Households Cut Back on Private Tutoring

SEOUL, Mar. 19 (Korea Bizwire) – As stubbornly high inflation persists, South Korean households are tightening their purse strings even on private education expenses, long considered the last bastion of family budgets, according to data released on March 18. BC Card, a major credit card company, reported a staggering 24 percent year-over-year plunge in education-related spending [...]

S. Korea to Provide 420 Tln Won in Policy Loans for Carbon Emission Reduction by 2030

S. Korea to Provide 420 Tln Won in Policy Loans for Carbon Emission Reduction by 2030

SEOUL, Mar. 19 (Yonhap) — South Korea’s financial regulator unveiled an ambitious plan Tuesday to provide 420 trillion won (US$315 billion) in policy loans by 2030 to help reduce greenhouse gas emissions. Seoul has pledged to reduce its greenhouse gas emissions by 37 percent from business-as-usual levels. “There exist concerns that the global competitiveness of [...]

South Korea to Offer Braille Maps of National Parks by 2026

South Korea to Offer Braille Maps of National Parks by 2026

SEOUL, Mar. 19 (Korea Bizwire) – The Korea National Park Service announced on March 18 that it will produce Braille maps for all 22 national parks across the country by 2026, in an effort to make these natural treasures more accessible to the visually impaired.  The first Braille map, covering Odaesan National Park, has been completed [...]

North Jeolla Province Offers Specialized Visas to Attract Talent, Counter Population Drop

North Jeolla Province Offers Specialized Visas to Attract Talent, Counter Population Drop

JEONJU, Mar. 19 (Korea Bizwire) – Faced with a continuing population decline, the government of North Jeolla Province announced on March 18 that it would introduce a region-specific visa program aimed at attracting skilled foreign workers and ethnic Koreans living abroad.  The new visa policy seeks to ease requirements for certain qualified foreigners and overseas Koreans, [...]

Regulator Launches Investigation into Netflix and Wavve for Alleged Unfair Business Practices

Regulator Launches Investigation into Netflix and Wavve for Alleged Unfair Business Practices

SEOUL, March 18 (Korea Bizwire) – South Korea’s antitrust regulator has launched an on-site inspection into over-the-top streaming platforms Netflix and Wavve on suspicions of their failure to properly notify users of terms of an early subscription cancellation, officials said Monday. The Fair Trade Commission (FTC) sent inspectors to their respective offices in Seoul and [...]

English, Chinese Interpretation Services for Emergency Police Number Expanded to 24/7

English, Chinese Interpretation Services for Emergency Police Number Expanded to 24/7

SEOUL, Mar. 18 (Korea Bizwire) — Police on Monday began providing English and Chinese interpretation services for the 112 emergency police number around the clock in order to help foreigners more speedily call for police help, officials said. Up until Monday, the interpretation services had been provided from 9 a.m. to 9 p.m. on weekdays [...]

S. Korea, OECD Hold Conference on ‘Digital Finance’

S. Korea, OECD Hold Conference on ‘Digital Finance’

SEOUL, Mar. 18 (Korea Bizwire) — South Korea and the Organization for Economic Cooperation and Development (OECD) opened a joint conference in Seoul on Monday to discuss ways to help Southeast Asian countries develop and transform their financial systems. The conference will be held for two days and discuss potential problems arising from the digitalization [...]

Finance Minister Calls for Extra Effort to Curb Still-high Inflation

Finance Minister Calls for Extra Effort to Curb Still-high Inflation

SEOUL, Mar. 18 (Korea Bizwire) — Finance Minister Choi Sang-mok on Monday called for extra effort by government officials to bring inflation under control amid weak private consumption, his office said. Choi made the call during a meeting with officials of the Ministry of Economy and Finance, where he also instructed them to come up [...]

S. Korea Begins Korean War Remains Excavation Project for This Year

S. Korea Begins Korean War Remains Excavation Project for This Year

SEOUL, Mar. 18 (Korea Bizwire) — South Korea began an annual project Monday to recover the remains of soldiers killed during the 1950-53 Korean War, the defense ministry said. The Agency for KIA Recovery and Identification said it will mobilize service members to excavate war remains in 36 former battle sites across the country until [...]