SEJONG, Sept. 16 (Korea Bizwire) – South Korea’s corporate watchdog said Sunday that it has decided to slap a total of 36 billion won (US$32 million) in fines on nine Japanese firms for allegedly colluding to maintain or raise prices of capacitors, a key electrical component used in smartphones and many other electric devices. According to the [...]
SEOUL, Sept. 14 (Korea Bizwire) – Starting next month, patients getting magnetic resonance imaging (MRI) scans of their brains will be paying just one-fourth what others have been paying until now. The Ministry of Health and Welfare revealed yesterday that the ministerial committee that has the final say in implementing health policies had reviewed the [...]
SEOUL, Sept. 14 (Korea Bizwire) — The speed of WiFi offered in smart cities and smart factories across South Korea is about to get even faster. The Ministry of Science and ICT announced yesterday that it was reestablishing its criteria regarding new technologies following the Presidential Committee on The Fourth Industrial Revolution’s recent strategy to [...]
SEOUL, Sept. 14 (Korea Bizwire) — Hand and arm transplants are set to become less expensive for Koreans at home. The Ministry of Health and Welfare (MOHW) announced on September 13 through a press release that the National Health Insurance would extend its coverage to hand and arm transplant surgery. In addition, the national plan [...]
SEOUL, Sept. 14 (Korea Bizwire) — Foreign residents’ failure to leave South Korea because of their unpaid fines is expected to disappear starting later this year, government officials said Friday. The National Human Rights Commission of Korea said the Ministry of Justice has recently accepted its recommendation to terminate the current practice of blocking international [...]
SEOUL, Sept. 13 (Korea Bizwire) – South Korea’s government said Thursday that owners of high-value houses and multiple homes will face tougher taxes than originally planned as it strives to rein in soaring housing prices. Over the past year, the Moon Jae-in government has unveiled a series of measures to curb housing prices that have [...]
SEOUL, Sept. 13 (Korea Bizwire) — Starting October 1, new insurance subscribers no longer need to reveal their disabilities, so as to ensure fair conditions for the physically challenged people who want to purchase insurance policies. According to the Financial Supervisory Service, the previous provision that required insurance plan seekers to notify insurance companies of any [...]
SEOUL, Sept. 12 (Korea Bizwire) — The maximum possible number of shares investors can purchase in a single order will be reduced starting next week to prevent fat-finger errors, the local bourse operator said Wednesday. Investors will be allowed to buy a maximum of 1 percent of a firm’s total shares per order starting Monday, [...]
SEOUL, Sept. 11 (Korea Bizwire) — A public “guardian” program for dementia patients will be implemented in South Korea starting September 20. The Ministry of Health and Welfare announced today that a proposed revision of the law that would provide the legal framework for the initiative was resolved at the Cabinet meeting level. For patients [...]
SEOUL, Sept. 11 (Korea Bizwire) — A new law will allow bio-heavy oil made from pork fat and other leftover oil to be used to generate electricity in place of petroleum. The Ministry of Trade, Industry and Energy announced yesterday legislation that approves the use of bio-heavy oil to provide a more stable source of [...]