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Archive by category Policies and Regulation

S. Korea Seeks to Produce 6.2 Million Hydrogen Cars by 2040

S. Korea Seeks to Produce 6.2 Million Hydrogen Cars by 2040

SEJONG, Jan. 17 (Korea Bizwire) — South Korea announced a hydrogen economy policy blueprint on Thursday that centers on promoting eco-friendly automobiles and power cells that could create 43 trillion won (US$38.2 billion) worth of wealth in 2040. The Ministry of Trade, Industry and Energy said the policy is focused on building a society that [...]

S. Chungcheong Province Develops ‘Welfare Smart City’

S. Chungcheong Province Develops ‘Welfare Smart City’

HONGSEONG, Jan. 16 (Korea Bizwire) — The government of South Chungcheong Province held a final briefing regarding strategies for so-called ‘smart city’ projects on Tuesday. The province is pushing to establish a welfare city for elders, digital underdogs. The smart city will utilize IoT and ICT to solve regional problems related to the environment, industry, [...]

Seoul to Spend 537 bln Won for Traditional Markets

Seoul to Spend 537 bln Won for Traditional Markets

SEOUL, Jan. 16 (Korea Bizwire) — South Korea plans to spend 537 billion won (US$478 million) to help nurture the country’s traditional markets, the government said Wednesday. According to the Ministry for SMEs and Startups, around half of the earmarked budget will be spent to help expand parking space and related facilities in a way [...]

All Foreign Wage Earners Required to File Tax Returns: Gov’t

All Foreign Wage Earners Required to File Tax Returns: Gov’t

SEJONG, Jan. 15 (Korea Bizwire) – South Korea’s tax agency said Tuesday that all foreign wage earners must file their year-end 2018 tax settlement by the end of next month, regardless of their nationality or length of stay. The National Tax Service said some income deduction or tax credit items are not applicable to foreigners and recommended [...]

Investigating Marine Bio-resources Beyond Littoral Sea

Investigating Marine Bio-resources Beyond Littoral Sea

SEOUL, Jan. 15 (Korea Bizwire) — The Ministry of Oceans and Fisheries announced ‘The 1st Marine Bio-Resource Basic Management Plan’ on Monday. The project entails the introduction of a grading system, along with the expansion of areas to investigate marine bio-resources. In order to manage marine bio-resources more strategically, the ministry plans to expand its [...]

Jeju Island Supports Neutering Program for Abandoned Dogs

Jeju Island Supports Neutering Program for Abandoned Dogs

JEJU, Jan. 15 (Korea Bizwire) — The Jeju provincial government announced on Monday that it will support the full cost of neutering operations at a designated animal hospital from the February 15 to 28 The purpose is to minimize stray dogs roaming around the island. The provincial government has allocated 100 million won (US$89,330) to [...]

Seoul to Introduce New Taxi Design by 2022

Seoul to Introduce New Taxi Design by 2022

SEOUL, Jan. 14 (Korea Bizwire) — The Seoul Metropolitan Government has announced plans to develop vehicles specially designed to serve as taxis, with the goal of introducing the new design by 2022. The city included in its four-year plan a new taxi design to better resemble the city with inclusive features, benchmarking Britain’s signature Black [...]