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Archive by category Policies and Regulation

Public Cheers as Incoming President Cracks Down on Telecom Charges

Public Cheers as Incoming President Cracks Down on Telecom Charges

SEOUL, May 12 (Korea Bizwire) – As Moon Jae-in was sworn into office as the 19th president of South Korea earlier this week, a pledge made during his campaign to scrap what is widely known as minimum phone bill charges has come back into the spotlight, a policy many voters viewed favorably amid a record high [...]

Seoul to Team Up With Coffeehouse Chains for Recycling Effort

Seoul to Team Up With Coffeehouse Chains for Recycling Effort

SEOUL, May 12 (Korea Bizwire) – The Seoul Metropolitan Government is teaming up with major coffeehouse chains in South Korea for a new recycling project that will see a weekly dose of coffee grounds reused as fertilizer and disposable cups collected for recycling, as part of a new environmental initiative set to kick off next month. [...]

S. Korea Imposes Levy on Financial Firms over Foreign Borrowing

S. Korea Imposes Levy on Financial Firms over Foreign Borrowing

SEOUL, May 12 (Korea Bizwire) — South Korea has imposed a levy on financial firms’ non-deposit foreign borrowing to ease volatility in capital flows, the central banks said Thursday. The Bank of Korea said 66 financial companies, including 17 local banks and 34 branches of foreign lenders, are required to pay 0.1 percent of their [...]

Incoming President to Bring Abandoned Dog and Cat to Blue House

Incoming President to Bring Abandoned Dog and Cat to Blue House

SEOUL, May 11 (Korea Bizwire) – Now that South Korea’s newly elected president Moon Jae-in has been sworn into office, public attention is turning to whether his pets – rescued dog Maru and cat Jjingjjingi – will accompany him to the Blue House as the very first First Dog from a shelter and First Cat in [...]

Moon Likely to Seek Policy Continuity in Economy

Moon Likely to Seek Policy Continuity in Economy

SEOUL, May 11 (Korea Bizwire) – Global rating agency Moody’s Investors Service said Wednesday that South Korea’s new President Moon Jae-in is likely to pursue continuity in economic and fiscal policies. Steffen Dyck, senior credit officer at Moody’s, said there might be a  shift in focus in sme structural reform areas, such as labor markets and social security. “We expect that [...]

N. Korea Unveils ‘Satellite Photos’ of THAAD in S. Korea

N. Korea Unveils ‘Satellite Photos’ of THAAD in S. Korea

SEOUL, May 11 (Korea Bizwire) — North Korea has unveiled what it claims are satellite images of the Terminal High Altitude Area Defense (THAAD) system recently deployed in South Korea, a move aimed at flaunting the country’s capability to gather intelligence against Seoul. The North’s state-run Korean Central TV Broadcasting Station aired two pictures showing [...]

Seongju Residents Seek Injunction against THAAD Deployment

Seongju Residents Seek Injunction against THAAD Deployment

SEONGJU, May 10 (Korea Bizwire) — Hundreds of residents near the deployment site of a U.S. missile defense system here filed a petition with the Constitutional Court on Monday to obtain an injunction against its construction and operation. A total of 527 residents from Seongju County and neighboring Gimcheon, about 300 kilometers southeast of Seoul, [...]