SEOUL, Jan. 24 (Korea Bizwire) — South Korea’s financial regulator said Tuesday it plans to abolish the existing mandatory registration policy for foreigners investing in local stocks within this year, in line with efforts to meet global standards. The move came as foreigners are currently required to file personal information with local financial authorities before [...]
SEOUL, Jan. 22 (Korea Bizwire) — Consumers will be given 300 won (US$0.24) in cashable points for every beverage they buy in a reusable cup at cafes, the environment ministry said Sunday, in a new waste-reduction program. Under the program, the 300-won “carbon neutrality” points will be paid when consumers buy a beverage either in [...]
SEOUL, Jan. 20 (Korea Bizwire) — Prime Minister Han Duck-soo said Friday that South Korea plans to lift the mask mandate for most indoor spaces from Jan. 30, dropping its last remaining pandemic restriction as the daily caseload continues to decline. The policy will, however, remain in place at hospitals, pharmacies and public transportation. The [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea will extend 274.6 billion won (US$222.9 million) for research and development in the bio industry this year, the industry ministry said Friday. The budget will be spent on a total of 252 new R&D projects in the four fields of bio pharmaceuticals, healthcare, bio materials and medical [...]
SEOUL, Jan. 18 (Korea Bizwire) — South Korea’s finance ministry said Wednesday it plans to revamp a set of tax regulations on the property market to ease the financial burden of people amid soaring borrowing costs. Under the plan, South Korea will allow owners of two homes topay less taxes if they dispose of one [...]
SEOUL, Jan. 18 (Korea Bizwire) — The government has mandated that low-floor buses be introduced when replacing old intra-city and maeul buses, and rural buses with new ones. Maeul buses — “maeul” means “village” in English — are small green buses that run on routes connecting neighborhoods to nearby major bus stops and subway stations. [...]
SEOUL, Jan. 18 (Korea Bizwire) — South Korea will offer 900 billion won (US$726.86 million) in policy financing to the display industry this year to help fund their investments in advanced technologies and boost exports, the industry ministry said Wednesday. First Vice Industry Minister Jang Young-jin announced the plan as he met with officials of [...]
SEOUL, Jan. 17 (Korea Bizwire) – The Seoul city government will provide a monthly subsidy of 300,000 won (US$242) to families relying on grandparents or relatives for child care as part of a project to help relieve the burden of raising children, officials said Tuesday. The city plans to invest a total of 14.7 trillion [...]
SEOUL, Jan. 17 (Korea Bizwire) — The personal details of convicted criminals who remove their ankle montors will be exposed to the public, regardless of the type of crime they have committed. The Ministry of Justice implemented the new rule last week, according to ministry officials. Previously, only criminals that had committed felonies, including sexual violence, [...]
SEOUL, Jan. 17 (Korea Bizwire) — South Korea’s military plans to restore its field training for reserve forces to pre-pandemic levels this year, the defense ministry said Tuesday, after three years of coronavirus-driven suspension or reduction. Starting from March 2, the field drills will proceed in a full-scale format, according to the ministry. They were [...]