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Archive by category Policies and Regulation

Stricter Rules Eyed for ‘Unfair’ Deals Favoring Firms Run by Chaebol Founding Family Members

Stricter Rules Eyed for ‘Unfair’ Deals Favoring Firms Run by Chaebol Founding Family Members

SEJONG, Apr. 10 (Korea Bizwire) – South Korea’s corporate watchdog said Tuesday that the revised enforcement ordinance of anti-trust laws will restrict deals that favor companies owned by the founding family members of large businesses. The change that will come into force soon aims to prevent arrangements that give unfair advantages to certain firms and [...]

More Fine Dust Warnings Issued in 2018 Compared with Last Year amid Rising Concerns: Data

More Fine Dust Warnings Issued in 2018 Compared with Last Year amid Rising Concerns: Data

SEOUL, Apr. 10 (Korea Bizwire) — More fine dust warnings have been issued in South Korea’s central region so far this year than for the same period in 2017 amid growing public concerns over air quality, provincial government data showed Tuesday. South Korea has been struggling to deal with fine dust particles from both home [...]

S. Korea Files Appeal Against WTO Ruling on Fukushima Seafood Ban

S. Korea Files Appeal Against WTO Ruling on Fukushima Seafood Ban

SEOUL, Apr. 10 (Korea Bizwire) — South Korea’s trade ministry said Monday it has filed an appeal against a ruling by the World Trade Organization (WTO) on its import restrictions on Japanese seafood after the 2011 Fukushima nuclear disaster. Japan officially lodged a complaint at the WTO in 2015 to challenge South Korea’s import bans [...]

Gov’t to Officially Give Vehicle Classification to Ultra Compact Cars

Gov’t to Officially Give Vehicle Classification to Ultra Compact Cars

SEJONG, Apr. 9 (Korea Bizwire) — South Korea will officially give ultra compact cars their own classification and promote their production through various incentives, the government said Sunday. The Ministry of Land, Infrastructure and Transport said it will revise the country’s motor vehicle management act and make the necessary preannouncement of legislation on May 15. [...]

Seoul to Roll Out Paid Sick Leave for Non-Regular Workers

Seoul to Roll Out Paid Sick Leave for Non-Regular Workers

SEOUL, April 5 (Korea Bizwire) — In a first among all South Korean municipal governments, Seoul will extend the right to take paid sick leave to vulnerable members of society employed on a non-regular basis, individuals that occupy what is considered a social welfare blindspot. Those that benefit from Seoul’s inclusive welfare initiative are expected [...]

Gov’t to Provide Smartphone Price Comparison with Overseas Markets

Gov’t to Provide Smartphone Price Comparison with Overseas Markets

SEOUL, Apr. 5 (Korea Bizwire) — South Korea’s telecom watchdog said Thursday it will provide consumers with a means to compare local prices of smartphones with those sold abroad on its website starting in May, apparently aimed at lowering prices here. The move comes as local customers have been expressing criticism that smartphone makers tend [...]

Gov’t to Boost Policy Support for Social Impact Investments

Gov’t to Boost Policy Support for Social Impact Investments

SEOUL, Apr. 4 (Korea Bizwire) — The government will increase its policy support for public financial institutions so they can make more social impact investments, officials said Wednesday. Unlike charities or donations, so-called impact investments are aimed at offering funds to small companies or cooperatives for social causes that can generate financial returns. Chairing a [...]