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S. Korea to Lift Mandatory Registration Policy for Foreign Investors in 2023

S. Korea to Lift Mandatory Registration Policy for Foreign Investors in 2023

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 [...]

300 Won in Cashable Points to be Provided for Every Cafe Beverage Bought in Reusable Cups

300 Won in Cashable Points to be Provided for Every Cafe Beverage Bought in Reusable Cups

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 [...]

S. Korea to Ease Set of Tax Regulations in Property Market

S. Korea to Ease Set of Tax Regulations in Property Market

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 [...]

Low-floor Buses to Replace Old Intra-city and Village Buses

Low-floor Buses to Replace Old Intra-city and Village Buses

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. [...]

S. Korea to Extend 900 bln Won in Policy Financing for Display Sector

S. Korea to Extend 900 bln Won in Policy Financing for Display Sector

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 City to Provide Monthly Subsidy to Grandparents, Relatives Providing Child Care

Seoul City to Provide Monthly Subsidy to Grandparents, Relatives Providing Child Care

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 [...]

Justice Ministry to Disclose Personal Info of Offenders Removing Ankle Monitors Illegally

Justice Ministry to Disclose Personal Info of Offenders Removing Ankle Monitors Illegally

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, [...]

Military to Resume Reserve Forces’ Field Training in Full-scale Format This Year

Military to Resume Reserve Forces’ Field Training in Full-scale Format This Year

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 [...]