SEOUL, July 31 (Korea Bizwire) – A new data-sharing initiative in South Korea has sparked concerns about potential risks to consumer privacy and the competitiveness of domestic businesses. Experts warn that the MyData system, set to be implemented across all sectors by March of next year, could inadvertently lead to the cheap sale of Korean consumer [...]
SEJONG, July 29 (Korea Bizwire) – South Korea’s presidential committee on population policy announced an additional set of plans on Monday to ease the housing burden for families with young children, as the government struggles to address critically low birth rates. Under the new policy, families with children under the age of two will be [...]
SEOUL, July 25 (Korea Bizwire) – The personal information watchdog fined AliExpress, a Chinese e-commerce retail platform, 1.9 billion won (US$1.37 million) on Thursday for leaking the personal information of South Korean customers to about 180,000 overseas sellers without informing them. The Personal Information Protection Commission approved the decision during its plenary meeting, marking the [...]
SEOUL, July 25 (Korea Bizwire) – The government will push to reduce inheritance tax to reflect decades of changes in asset values and inflation, and to provide a tax credit for marriage and childbirth in an effort to boost the ultra-low birth rate, the finance ministry said Thursday. They are part of a tax code [...]
INCHEON, Jul. 24 (Korea Bizwire) – In a bold move to address the country’s declining birth rate, the city of Incheon announced on July 23 that it will begin implementing a new child allowance program next month, separate from the existing national child benefit system. The “Child Dream Allowance” program, set to launch on August 1, [...]
SEOUL, Jul. 24 (Korea Bizwire) – The Seoul Metropolitan Government announced on July 23 that it is implementing a Digital Guide program to assist elderly residents who are unfamiliar with digital devices. The initiative will be active at major subway stations, welfare facilities, and parks throughout the city. On the morning of July 23, the city [...]
SEOUL, July 22 (Korea Bizwire) – A parliamentary committee unilaterally passed a pro-labor bill Monday that aims to limit companies from making claims for damages against legitimate labor union disputes. Lawmakers affiliated with the main opposition Democratic Party and other progressive parties passed the revision to the Trade Union and Labor Relations Adjustment Act, nicknamed [...]
SEOUL, Jul. 22 (Korea Bizwire) – As new technologies emerge that can predict menstrual cycles and detect sleep apnea by collecting biometric data during sleep, including heart rate, blood sugar levels, and stress indicators, the South Korean government has initiated efforts to draft legislation to address these developments. The Personal Information Protection Commission (PIPC) aims to [...]
SEOUL, July 19 (Korea Bizwire) – Chinese, Japanese and Western restaurants will be allowed to employ immigrant workers as kitchen assistants, officials said Friday, a move that could help address workforce shortages in the restaurant industry. Under the updated work permit policy, restaurants servicing Chinese, Japanese, Western or other foreign cuisine will be permitted to [...]
SEOUL, July 19 (Korea Bizwire) – The sports ministry said Friday it has launched an investigation into the national football governing body over possible irregularities during its recent hiring of the new men’s national team head coach. An official with the ministry said the audit on the Korea Football Association (KFA) essentially began Thursday when [...]