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Archive by category Policies and Regulation

Workplace Accident Insurance to Cover Commute Trips

Workplace Accident Insurance to Cover Commute Trips

SEOUL, Sept. 29 (Korea Bizwire) – Workers who experience accidents during their commute will now be eligible for compensation, as new legislation has been passed at the National Assembly to categorize commuting as a continuation of work. During a plenary session on Thursday, the new legislative amendment of the current Industrial Accident Compensation Insurance Act was [...]

S. Korea, Missouri Sign MOU on SMEs Promotion

S. Korea, Missouri Sign MOU on SMEs Promotion

SEOUL, Sept. 29 (Korea Bizwire) — The South Korean government said Friday it has signed a memorandum of understanding (MOU) with the state of Missouri to enhance cooperation between small and medium-sized enterprises (SMEs). The pact was signed in Seoul between Choi Su-gyu, vice minister of SMEs and Startups, and Missouri Gov. Eric Robert Greitens, [...]

South Korea to Offer US$1 Million Worth of Humanitarian Aid to Quake-Hit Mexico

South Korea to Offer US$1 Million Worth of Humanitarian Aid to Quake-Hit Mexico

SEOUL, Sept. 29 (Korea Bizwire) – South Korean plans to provide US$1 million worth of humanitarian assistance to Mexico recently hit by a massive deadly earthquake, the foreign ministry said Thursday. A 7.1-magnitude quake struck Mexico on Sept. 19, leaving 338 people dead and over 800 others injured. Dozens of buildings collapsed with over 14,000 homes damaged or destroyed, the ministry said. The latest quake [...]

Government Says Blocking Tumblr a ‘Possibility’

Government Says Blocking Tumblr a ‘Possibility’

SEOUL, Sept. 28 (Korea Bizwire) – As American blogging giant Tumblr has refused the South Korean government’s request for cooperation on censoring pornographic content, which is illegal in the country, blocking Tumblr as a whole has emerged as a possibility among media regulatory authorities. During a briefing on protection from online sex crimes held on Tuesday [...]

FTC Slaps 1.78 bln-won Fine on Mercedes-Benz Korea, Dealerships

FTC Slaps 1.78 bln-won Fine on Mercedes-Benz Korea, Dealerships

SEJONG, Sept. 26 (Korea Bizwire) — South Korea’s antitrust watchdog said Tuesday that it has slapped a combined 1.78 billion-won (US$1.57 million) fine on Mercedes-Benz Korea and its dealerships for fixing labor costs for auto repairs. Mercedes-Benz Korea, the local unit and importer of German carmaker Daimler AG, allegedly suggested to eight dealerships fixing rates [...]

Baby Seats Coming to Coach Buses if New Legislation Passes

Baby Seats Coming to Coach Buses if New Legislation Passes

SEOUL, Sept. 21 (Korea Bizwire) – South Korean lawmakers are poised to pass new legislation that would make it mandatory for coach buses to provide baby seats for passengers younger than six years of age. According to the Land Infrastructure and Transport Committee on Thursday, a Passenger Transport Service Act legislation amendment proposed by lawmaker Lee [...]

Security Remains ‘Top Priority’ for PyeongChang 2018 amid French Boycott Talks

Security Remains ‘Top Priority’ for PyeongChang 2018 amid French Boycott Talks

SEOUL, Sept. 22 (Korea Bizwire) — Safety for all participants remains “a top priority” for the 2018 PyeongChang Winter Olympics, the event’s organizers said Friday, on the heels of talks that France may skip the competition under security threats. “Safety and security is one of the most important aspects of Games preparations,” PyeongChang’s organizing committee [...]

Financial Regulator Vows Flexible Rules to Help Fintech Industry Growth

Financial Regulator Vows Flexible Rules to Help Fintech Industry Growth

SEOUL, Sept. 21 (Korea Bizwire) — The head of the Financial Supervisory Service (FSS) said Thursday the regulator seeks to build an innovation-friendly financial environment to help the growth of the financial technology industry. Choe Heung-sik, governor of the FSS, made the remarks during a conference in Seoul to debate how best the financial industry [...]