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Archive by category Policies and Regulation

New Tobacco Safety Regulations to Require Testing Within One Month of Product Launch

New Tobacco Safety Regulations to Require Testing Within One Month of Product Launch

SEOUL, Feb. 7 (Korea Bizwire) — The South Korean Ministry of Health and Welfare and the Food and Drug Safety Ministry announced on February 6 proposed enforcement regulations requiring tobacco manufacturers to test harmful substances within one month of product launch. The regulations implement the Tobacco Harm Management Act passed in 2023, which takes effect November [...]

Finance Ministry to Block DeepSeek Access Citing Technical Concerns

Finance Ministry to Block DeepSeek Access Citing Technical Concerns

SEOUL, Feb. 6 (Korea Bizwire) – The finance ministry plans to block access to the Chinese artificial intelligence (AI) service DeepSeek, a ministry official said Thursday, in the latest of Seoul’s restrictions on the use of the service among officials amid data collection concerns. “Due to multiple technical concerns raised about DeepSeek from home and [...]

S. Korea to Invest 208.8 Bln Won in Promoting Global Technology Cooperation

S. Korea to Invest 208.8 Bln Won in Promoting Global Technology Cooperation

SEOUL, Feb. 5 (Korea Bizwire) — South Korea will spend 208.8 billion won (US$143.7 million) this year on global technology cooperation projects as part of efforts to bolster the country’s technological competitiveness, the industry ministry said Wednesday. The amount marks a 25.9 percent increase from the corresponding tally for last year, according to the Ministry [...]

South Korea Has Rejected 97% of Refugee Applications Since 1994

South Korea Has Rejected 97% of Refugee Applications Since 1994

SEOUL, Feb. 4 (Korea Bizwire) — South Korea has received 122,095 refugee applications since implementing its refugee program in 1994, with only 1,544 individuals being granted refugee status — an approval rate of 2.7% — according to statistics released by the Ministry of Justice on February 3. The country began accepting refugee applications in March 1994 [...]

South Korea Expands Incentives for ‘Good Price’ Business Program

South Korea Expands Incentives for ‘Good Price’ Business Program

SEOUL, Feb. 4 (Korea Bizwire) — The South Korean Ministry of the Interior and Safety announced on February 3 that it will expand benefits for consumers who help identify or frequently patronize businesses designated as “Good Price Shops” — establishments recognized for providing quality goods and services at reasonable prices. Under the new initiative, consumers who [...]

Bank of Korea Disposes of Nearly $23 Billion in Damaged Currency in 2024

Bank of Korea Disposes of Nearly $23 Billion in Damaged Currency in 2024

SEOUL, Feb. 3 (Korea Bizwire) —  The Bank of Korea (BOK) disposed of nearly 3.38 trillion won ($23.1 billion) worth of damaged or contaminated banknotes and coins in 2024, a slight decrease from the previous year. According to a report released on Monday, the central bank discarded approximately 474.89 million currency units last year, down 1.9% [...]

Trump’s New Tariffs Spark Concern in South Korean Auto Industry

Trump’s New Tariffs Spark Concern in South Korean Auto Industry

SEOUL, Feb. 3 (Korea Bizwire) — The South Korean auto industry is bracing for significant disruptions after U.S. President Donald Trump announced new universal tariffs on the country’s largest trading partners, including Canada, Mexico, and China. The move is expected to have immediate financial implications for South Korean automakers and suppliers, particularly those that have [...]

Police to Invest $6.2M in AI System to Combat Deepfakes and Misinformation

Police to Invest $6.2M in AI System to Combat Deepfakes and Misinformation

SEOUL, Feb. 2 (Korea Bizwire) — Police will invest 9.1 billion won (US$6.2 million) to build a system that can detect deepfakes and misinformation, officials said Sunday, as South Korea seeks to better combat a surge in crimes involving images and sounds generated with artificial intelligence (AI). Under the project set for completion by December [...]

Seoul Launches AI-Powered Public Data Hub for Natural Language Queries

Seoul Launches AI-Powered Public Data Hub for Natural Language Queries

SEOUL, Jan. 30 (Korea Bizwire) —  In a first for local governments in South Korea, Seoul has launched the ‘Seoul Data Hub,’ an AI-powered public data platform that allows users to access city data using natural language queries. The service, which integrates generative AI technology, enables both experts and ordinary citizens to conveniently obtain information. Users [...]

Controversy Surrounds Saemangeum Airport Over Bird Strike Risks Following Air Disaster

Controversy Surrounds Saemangeum Airport Over Bird Strike Risks Following Air Disaster

JEONJU, South Korea, Jan. 28 (Korea Bizwire) —  The planned Saemangeum International Airport in South Korea is at the center of heated debate, with environmental groups and regional authorities clashing over its potential bird strike risks. Following the Jeju Air disaster at Muan International Airport, concerns have intensified about the safety of constructing an airport near [...]